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$1,095,000 Just Listed

  • For Sale
  • Active
  • Multi-Family
  • 7 Total Beds
  • 2 Car Garage
  • Updated 2 days ago
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RARE 3 UNIT INVESTMENT OPPORTUNITY IN MORRIS PLAINS!GREAT INCOME POTENTIAL! A phenomenal opportunity for investors seeking to expand their portfolio with a unique, income-producing property in Morris Plains! Featuring two separate homes on 1 lot, a duplex and a SF/Home,2 garages, low property taxes, long-term tenants already in place, and a prime location within walking distance to direct train service to NYC, this property offers an attractive combination of convenience and investment potential.The main residence features a side-by-side duplex each with 3 bdr, 1.5 baths, and a spacious basement providing abundant storage. A brand-new roof installed in October 2026 adds further appeal. The separate rear cottage was beautifully renovated in 2024 and offers 1 bedroom, 1 bath ,a generously sized living/dining area, and a spacious primary bedroom.Additional highlights include ample off-street parking and private rear patio areas for each residence, providing desirable outdoor space and added tenant appeal.With long-term tenants in place, convenient access to NYC transportation, and the advantage of relatively low property taxes, this distinctive 3 unit property presents an exciting opportunity for investors looking to build long-term wealth through real estate. Explore the income potential, evaluate the numbers, and discover the possibilities this exceptional investment has to offer!Two homes. A compelling opportunity to grow your portfolio in Morris Plains! Not to be missed!

Full Property Details for 18 Sherman Ave

General

  • Price: $1,095,000
  • Taxes: $9,359 (2025)
  • Status: Active
  • Type: Multi-Family
  • Source: Garden_State
  • MLS ID: 4060667
  • Updated: 10/24/2026
  • Added to Site: 2 day(s) ago

Interior

  • Number of Rooms: 15
  • Interior Features: Carbon Monoxide Detector, Carpeting, Fire Extinguisher, Smoke Detector, Wood Floors

Rooms

Bathrooms

  • Total Bathrooms: 5
  • Full Bathrooms: 3
  • Half Bathrooms: 2

Bedrooms

  • Total Bedrooms: 7

Exterior

  • Exterior Features: Patio
  • Color: Blue

Parking

  • Garage: Yes
  • Garage Spaces: 2
  • Garage Description: Detached Garage

Location

  • County: Morris
  • Subdivision: Morris Plains
  • Driving Directions: Speedwell Ave to Sherman Ave

School Information

  • Elementary School: Alfredvail
  • Middle School: Frelghuysn
  • High School: Morristown

Heating & Cooling

  • Cooling Type: No Cooling
  • Heating Type: 3 Units
  • Heating Fuel: Electric, Natural Gas
  • Water Heater: Gas

Utilities

  • Sewer: Public Sewer
  • Water: Public Water
  • Utility Description: Electric, Natural Gas

Structural Information

  • Architectural Style: 1-One Story, Duplex-Side by Side
  • Exterior Const.: Vinyl Siding
  • Basement: Yes
  • Basement Desc.: Unfinished
  • Roof: Asphalt Shingles
  • Year Built: 1928
  • Remodeled/Updated: 2024

Unit Information

Unit 1

  • Unit Description: Bedrooms, Dining Room, Kitchen, Living Room, Storage, Utility Room
  • Levels/Stories: 2
  • Total Bathrooms: 1
  • Bedrooms: 3

Unit 2

  • Unit Description: Bedrooms, Dining Room, Kitchen, Laundry Room, Storage, Utility Room
  • Levels/Stories: 2
  • Total Bathrooms: 1
  • Bedrooms: 3

Unit 3

  • Unit Description: Bedrooms, Kitchen, Living/Dining Room, Master Bedroom, Utility Room
  • Levels/Stories: 1
  • Total Bathrooms: 1
  • Bedrooms: 1

Lot Features

  • Lot Size (Acres): 0.17
  • Lot Dimensions: .165 AC
  • Driveway/Sidewalk: 1 Car Width
  • Lot Description: Level Lot

Financial Considerations

  • Operating Expenses: $17,818
  • Assessment Amount: $269,100
  • Land Assmt: $206,500
  • Tax Amount: $9,359
  • Tax Year: 2025

Disclosures and Reports

  • Block: 109
  • Lot Number: 29
Buyer's Brokerage Compensation: Contact Listing Agent
Not binding unless confirmed by separate agreement among applicable parties.

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— 18 Sherman Ave —

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NMLS#: 1598647

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with our affiliated lender
NMLS#: 1598647

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Schools serving 18 Sherman Ave

School District:Morris Township School District
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 18 Sherman Ave Get Price Alerts and Save Property

Date
Details
Price
Change
Source
10/24/2026
Listed
$1,095,000
630%
MLS
5/16/2012
Sold
$150,000
—
Public Record
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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 18 Sherman Ave

Year
Property Taxes
Change
Tax Assessment
Change
2024
$9,522
3%
$475,600
—
2022
$9,288
2%
$475,600
—
2021
$9,093
5%
$475,600
—
2018
$8,623
1%
$475,600
—
2017
$8,566
2%
$475,600
—
2016
$8,432
1%
$475,600
45%
2015
$8,341
-4%
$328,900
-31%
2019
$8,718
6%
$475,600
45%
2013
$8,222
—
$328,900
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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18 Sherman Ave, Morris Township, NJ 07950 (MLS# 4060667) is a Multi-Family property with 3 units containing 7 bedrooms, 3 full bathrooms and 2 partial bathrooms. 18 Sherman Ave is currently listed for $1,095,000 and was received on October 24, 2026. This property is listed by Iuliana "Juliana" Pirtea from our Chester Office.Want to learn more about 18 Sherman Ave? Do you have questions about finding other Multi-Family real estate for sale in Morris Township? You can browse all Morris Township real estate or contact a Coldwell Banker agent to request more information.

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