20 Morris Lake Rd
Sparta Twp, NJ 07871
Price: $778,000
GSMLS: 4044809Type: Multi-Family
Style: 3-Three Story
Total Units: 3
Beds: 7
Baths: 6 Full
Garage: 2-Car
Year Built: 1910
Acres: 1.47
Property Tax: $22,041
Description
Prime Investment Opportunity: 20 Morris Lake Rd, Sparta, NJRare lakefront multifamily property featuring 7,800 sq. ft. of living space and direct privatelake and beach access. Listed at $778,000 (appraised as-is at $830,000), with a certifiedpost-completion appraisal of $1,315,000. Configured for 3 spacious luxury units (each 3 bed/ 2 bath with open-concept layout and laundry), delivering projected rents of$3,600?$4,200/month per unit and over $35,000 in net annual cash flow. Siding is 60%complete; requires HVAC, septic update, and interior finishes to complete. All supportingdocuments (survey, site plans, architectural/engineering drawings, tax assessments)available upon proof of funds. Cash or hard money buyers only.
General Info
Style:
3-Three Story
SqFt Building:
n/a
Total Rooms:
12
Basement:
Yes - Crawl Space, Partial, Unfinished
Interior:
Carbon Monoxide Detector, Fire Extinguisher, High Ceilings, Smoke Detector, Walk-In Closet
Roof:
Asphalt Shingle
Exterior:
Aluminum Siding, Vertical Siding, Vinyl Siding
Lot Size:
n/a
Lot Desc:
Lake Front, Mountain View, Private Road
Parking
Garage Capacity:
2-Car
Description:
Attached Garage
Parking:
2 Car Width, Driveway-Exclusive, Gravel
Spaces Available:
8
Unit 1
Bedrooms:
2
Bathrooms:
2
Total Rooms:
3
Room Description:
Attic, Bedrooms, Dining Room, Kitchen, Laundry Room, Living/Dining Room
Levels:
1
Square Foot:
n/a
Fireplaces:
1
Appliances:
Carbon Monoxide Detector
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 2
Bedrooms:
3
Bathrooms:
2
Total Rooms:
5
Room Description:
Bedrooms, Dining Room, Kitchen, Laundry Room, Living Room, Storage
Levels:
1
Square Foot:
n/a
Fireplaces:
1
Appliances:
Carbon Monoxide Detector
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 3
Bedrooms:
3
Bathrooms:
2
Total Rooms:
6
Room Description:
Attic, Bedrooms, Dining Room, Kitchen, Living Room, Storage
Levels:
1
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
Carbon Monoxide Detector
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
No
Unit 4
Bedrooms:
n/a
Bathrooms:
n/a
Total Rooms:
n/a
Room Description:
n/a
Levels:
n/a
Square Foot:
n/a
Fireplaces:
n/a
Appliances:
n/a
Utilities:
Owner Pays Water, Tenant Pays Electric, Tenant Pays Gas, Tenant Pays Heat
Handicap:
n/a
Utilities
Heating:
3 Units, Heat Pump, Multi-Zone
Heating Fuel:
Electric, Gas-Propane Leased, Oil Tank Above Ground - Outside
Cooling:
3 Units, Ductless Split AC
Water Heater:
n/a
Water:
Well
Sewer:
Septic
Utilities:
Electric, Gas In Street, Gas-Propane
Services:
Fiber Optic
School Information
Elementary:
n/a
Middle:
n/a
High School:
n/a
Community Information
County:
Sussex
Town:
Sparta Twp.
Neighborhood:
n/a
Financial Considerations
List Price:
$778,000
Tax Amount:
$22,041
Land Assessment:
$144,500
Build. Assessment:
$456,400
Total Assessment:
$600,900
Tax Rate:
3.67
Tax Year:
2025
Listing Information
MLS ID:
4044809
List Date:
08-03-2026
Days On Market:
14
Listing Broker:
REWARDS REALTY LLC
Listing Agent:
Maria Tsabrova
Request More Information
Shawn and Diane Fox
RE/MAX American Dream
3108 Route 10 West
Denville, NJ 07834
Call: (973) 277-7853
Web: TownsquareVillageLiving.com
