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  • $699,999

    249 Speedwell Ave #2, Morristown Town, NJ 07960

    4beds
    --sqft
    : 
    Multi Family
    Built in 1898
    -- sqft lot
    $-- Zestimate®
    $--/sqft
    $-- HOA

    What's special

    Outdoor spacePotential for future expansion
    Welcome to 249 Speedwell Avenue?a fully updated, income-producing two-family home in the heart of one of New Jersey?s hottest rental markets. Both apartments?one spacious 5-room unit and one charming 4-room unit?have been tastefully updated, allowing you to command top-dollar rent from day one with zero renovation downtime.Set on an oversized 0.29-acre lot, this property offers plenty of parking, outdoor space, and potential for future expansion (with approvals). Whether you?re an investor seeking immediate cash flow, a house hacker looking to live in one unit while the other covers your mortgage. This property delivers flexibility and profit potential.The location is unbeatable?minutes to the Morristown Green, NJ Transit direct to NYC, upscale dining, nightlife, shops, and year-round cultural events. With Morristown?s rental demand and property values surging, this is an investment you can hold for appreciation or leverage for short-term gains. Add a premium short-term rental strategy, furnished executive rentals, or corporate housing for even higher returns, tapping into Morristown?s strong tourism and commuter markets.Updated, income-ready, and in a prime growth market?249 Speedwell Ave is the kind of asset that builds wealth. Multiple income strategies, immediate equity growth, and a location that keeps tenants coming back?don?t miss your chance to secure it.
    1 day
    on Zillow
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    25
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    Zillow last checked: 19 hours ago

    Listing updated: August 12, 2025 at 04:21am

    Listed by:

    Robert Kobus 973-714-9513,

    Coldwell Banker Realty,

    Julia Pogois

    Source: GSMLS,MLS#: 3980707MLS Logo
    Travel times

    Tour with a buyer's agent

    We'll find a local expert to take you on a private tour of 249 Speedwell Ave #2.

    Next available tour time:Today at 6:30pm

    Open house

    • Sun, Aug 17

      12:00 PM - 4:00 PM

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bedrooms: 4
    • Bathrooms: 2
    • Full bathrooms: 2
    Heating
    • 4+ Units, See Remarks, Electric
    Cooling
    • 4+ Units
    Appliances
    • Included: Dishwasher, Microwave, Range/Oven - Gas, Refrigerator, Washer/Dryer Stacked, Dryer, Microwave Oven, Washer, Gas Water Heater
    Features
    • Bedrooms, Eat-in Kitchen, Kitchen, Living Room, Master Bedroom, See Remarks
    • Basement: Yes,Unfinished
    • Has fireplace: No
    Interior area
    • Total structure area: 0

    Property

    Parking
    • Total spaces: 1
    • Parking features: 1 Car Width, Asphalt, Off Street
    • Uncovered spaces: 1
    Features
    • Levels: 3-Three Story
    • Stories: 3
    • Patio & porch: Porch
    • Exterior features: Sidewalk
    • Fencing: Partial
    • Has view: Yes
    • View description: Lake/Water View
    • Has water view: Yes
    • Water view: Lake/Water View
    Lot
    • Size: 0.29 Acres
    • Dimensions: 50 x 257
    • Features: Backs to Park Land, Irregular Lot
    Details
    • Parcel number: 2324033010000000280000

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    Materials
    • Wood Shingle
    • Roof: Asphalt Shingle
    Condition
    • Year built: 1898
    • Major remodel year: 2024

    Utilities & green energy

    • Gas: Gas-Natural
    • Sewer: Public Sewer
    • Water: Public
    • Utilities for property: Electricity Connected, Natural Gas Connected

    Community & HOA

    Community
    • Security: Carbon Monoxide Detector(s), Smoke Detector(s), Carbon Monoxide Detector, Smoke Detector, Fire Extinguisher
    Location
    • Region: Morristown

    Financial & listing details

    • Tax assessed value: $554,500
    • Annual tax amount: $8,733
    • Date on market: 8/11/2025
    • Exclusions: None
    • Total actual rent: 5900
    • Tenant pays: Electricity, Tenant Pays Electric
    • Electric utility on property: Yes
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