For Multi Family

55 Myrtle Ave,Madison Boro, NJ 07940-1235

September 17, 2026

Rare opportunity to renovate and restore this custom built 2 unit multi family home in popular neighborhood in desirable town of Madison. Can also be converted to a large single family home as well. Convenient to town, Manhattan direct train, schools, parks, ball fields and more. Owner occupy or rent out both. Needs work. Amazing potential for buyer with vision. Unit 1 is first floor and finished lower level. Unit 2 is second floor with separate private entrance. Built in 1 car garage along with detached 2 car garage with attic. Wrap around deck, plenty of parking, level yard & storage shed. Excellent opportunity for tradesperson, contractor and landscapers. Central air units not operational. Strictly “as-is” sale. Inspections for information purposes only. Estate sale with limited knowledge of property & conditions.

Property ID:PT-55141913-AXZR

Offer Type:For Multi Family

Property Type:Multi-Family

Price: 865,000 $

Bedrooms:3

Year Built:1951

Listing Details

Status: Active

Location

County: Morris

Lotsize: 0.2152 AC

Lot Identifier: 11

Lot Description: Level Lot

Lot Identifier: 11

Home Details

Open Parking: 6

Basement: Yes

Basmnt/Desc: Yes - Finished-Partially

Acreage: 0.22

Total Baths: 2.00

Unit Style: 2-Two Story, Under/Over

Number of Units: 2

Rooms: 11

Easement/Desc: Unknown

Exterior Description: Stone, Vinyl Siding

Roof Description: Asphalt Shingle, Rubberized

Possesion: POT

Unit 1 Appliances/Equipment: Carbon Monoxide Detector, Ceiling Fan(s), Dishwasher, Microwave Oven, Range/Oven - Gas, Smoke Detector, Sump Pump

Unit 1 Levels: 2

Unit 1 Rooms: 8

Unit 1 Beds: 3

Unit 1 Baths: 1.0

Unit 1 Fireplaces: 2

Unit 1 Owner/Tenant Pays: Owner Pays Gas, Owner Pays Heat, Owner Pays Water, Tenant Pays Electric

Unit 1 Handicap: No

Unit 1 Room Description: Bedrooms, Dining Room, Kitchen, Living Room, Rec Room, Sunroom

Unit 2 Appliances/Equipment: Carbon Monoxide Detector, Range/Oven - Gas, Refrigerator, Smoke Detector

Unit 2 Levels: 1

Unit 2 Rooms: 3

Unit 2 Beds: 1

Unit 2 Baths: 1.0

Unit 2 Owner/Tenant Pays: Owner Pays Gas, Owner Pays Heat, Owner Pays Water, Tenant Pays Electric

Unit 2 Handicap: No

Unit 2 Room Description: Kitchen, Living/Dining Room, Master Bedroom

Color of Building: stone grey

Garage Description: Attached Garage, Detached Garage

Number of Garage Spaces: 3

Block Identifier: 503

County Number: 23

Town Number: 2318

YB/Desc: 1951 - Approximate

Color of Building: stone grey

Easement: Unknown

Parking/Driveway Description: 2 Car Width, Blacktop, Driveway-Exclusive, Off-Street Parking

Block Identifier: 503

County Number: 23

Town Number: 2318

Possession: POT

Taxes, Fees & Assessments

Warranty: No

Tax ID For Property: 2317-00503-0000-00011-0000-

Tax Amount: $10,981.00

Tax Year: 2025

Tax Rate: 2.254%

Tax Rate Year: 2026

Farm Assessment: No

Land Assessment: $201,600.00

Building Assessment: $285,600.00

Total Assessment: $487,200.00

FHA Age Restricted: No

Utilities

Water Heater: Gas

Heat Source: Gas-Natural

Heat System: 1 Unit, Auxiliary Electric Heat, Multi-Zone, Radiators - Steam

Cool System: 2 Units, Central Air

Water: Public Water, Water Charge Extra

Sewer: Public Sewer

Utilities: Electric, Gas-Natural

Services: Cable TV Available, Fiber Optic Available, Garbage Included

Schools

Grade School: Central

Middle School: Madison Jr

High School: Madison

Other

Zoning: R3

Blinds
Carbon Monoxide Detector
Carpeting
Deck
Enclosed Porch(es)
Smoke Detector
Storage Shed
Storm Door(s)
Thermal Windows/Doors
Vinyl-Linoleum Floors
Wood Floors

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Listing Details

55 Myrtle Ave,Madison Boro, NJ 07940-1235

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