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$874,000 Just Listed

  • For Sale
  • Active
  • Multi-Family
  • 8 Total Beds
  • Updated 1 day ago
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Charming, income-producing multi-family just steps from Lake Hopatcong a rare value-add opportunity in a highly desirable lake community offering stunning views. This 4-unit property (with potential for a legal 5th unit, subject to municipal approvals) sits on nearly a full acre and currently generates approximately $92,000 annually, reflecting an attractive 7.1% cap rate with low operating expenses. Each unit is separately metered and equipped with newer tankless water heating systems, helping to minimize owner expenses. Recent exterior improvements include a newly paved driveway and retaining wall. With light interior renovations, three units present immediate rent growth potential. Located within walking distance to the public beach and close to the marina, shopping, and dining, the property offers strong long-term rental appeal and consistent tenant demand. Financials and detailed unit breakdown available upon request.

Full Property Details for 22 Sunset Terrace

General

  • Price: $874,000
  • Taxes: $14,859 (2025)
  • Status: Active
  • Type: Multi-Family
  • Source: Garden_State
  • MLS ID: 4013888
  • Updated: 3/12/2026
  • Added to Site: 2 day(s) ago

Interior

  • Number of Rooms: 19
  • Interior Features: Carbon Monoxide Detector, Carpeting, High Ceilings, See Remarks

Rooms

Bathrooms

  • Total Bathrooms: 6
  • Full Bathrooms: 6

Bedrooms

  • Total Bedrooms: 8

Parking

  • Garage Description: None

Location

  • County: Morris
  • Driving Directions: Howard Blvd to Sunset Ter.

Heating & Cooling

  • Cooling Type: Ceiling Fan, Window A/C(s)
  • Heating Type: Baseboard - Hotwater
  • Heating Fuel: Natural Gas
  • Water Heater: Gas, See Remarks

Utilities

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

Structural Information

  • Architectural Style: 3-Three Story
  • Exterior Const.: Vinyl Siding
  • Basement: Yes
  • Basement Desc.: Bilco-Style Door
  • Roof: Asphalt Shingles
  • Square Feet: 4,500
  • Year Built: 1904

Unit Information

Unit 1

  • Unit Description: Bedrooms, Kitchen, Laundry Room, Living Room, Porch, Master Bedroom
  • Levels/Stories: 1
  • Fireplaces: 3
  • Total Bathrooms: 3
  • Bedrooms: 3

Unit 2

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

Unit 3

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

Unit 4

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

Lot Features

  • Lot Size (Acres): 0.94
  • Lot Dimensions: 0.937 AC
  • Driveway/Sidewalk: Blacktop, Common, Off-Street Parking
  • Lot Description: Lake/Water View

Financial Considerations

  • Expenses: Cold Water, Insurance, Taxes
  • Operating Expenses: $32,482
  • Assessment Amount: $524,400
  • Land Assmt: $150,100
  • Tax Amount: $14,859
  • Tax Year: 2025

Disclosures and Reports

  • Disclosures: Yes
  • Block: 45
  • Lot Number: 8

Listed by Blue Line Realty Group Llc

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Listing agent

— 22 Sunset Terrace —

  • Blue Line Realty Group Llc

201-440-3700

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Price & Sales History for 22 Sunset Terrace Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/11/2026
Listed
$874,000
58.91%
MLS
2/04/2021
Sold
$550,000
—
Public Record
Get Price Alerts and Save Property
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 22 Sunset Terrace

Year
Property Taxes
Change
Tax Assessment
Change
2024
$13,733
30%
$674,500
—
2022
$10,604
2%
$674,500
77%
2021
$10,426
4%
$381,700
—
2018
$10,035
1%
$381,700
—
2017
$9,920
—
$381,700
—
2016
$9,901
2%
$381,700
—
2015
$9,730
-3%
$381,700
—
2019
$10,058
6%
$381,700
—
2013
$9,462
—
$381,700
—
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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NMLS#: 1598647

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Listed by Blue Line Realty Group Llc

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22 Sunset Ter, Mount Arlington, NJ 07856 (MLS# 4013888) is a Multi-Family property with 4 units containing 8 bedrooms and 6 full bathrooms. 22 Sunset Ter is currently listed for $874,000 and was received on March 11, 2026. Want to learn more about 22 Sunset Ter? Do you have questions about finding other Multi-Family real estate for sale in Mount Arlington? You can browse all Mount Arlington real estate or contact a Coldwell Banker agent to request more information.

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