Listing Notes
Back on Market after Buyer couldn't perform! Now you have a second chance to snag this rare, fully occupied triplex in a prime Butler location. 25 Kiel Ave is a unique three-story multifamily property, grandfathered by the borough, offering a compelling opportunity for both investors and owner-occupants alike. This income-producing asset features two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit, with in-unit laundry in all three apartments. Units 1 and 3 have been fully gut renovated and feature open-concept layouts, updated kitchens and bathrooms, and newer appliances. Unit 3 also includes a private rooftop balcony, adding even more appeal. Separate utilities help minimize landlord expenses, while off-street parking for four vehicles offers added convenience for tenants. Currently generating $5,700 per month in gross rental income with an attractive 7%+ cap rate, this property is also offered at $20,000 below appraised value. Ideally situated within walking distance to downtown Butler's shops, restaurants, nightlife, and public transportation, with easy access to Routes 23 and 287, this is a rare chance to own a well-performing multifamily property in a highly convenient location!
Price in context
Cheaper than 25% of the 24 homes listed nearby right now, which run $399,000 to $899,000.
See all 24 nearby listings
| Address | Asking | Size |
|---|---|---|
| 35 Boonton Ave | $399,000 | 4 bd · 2 ba |
| 110 Belleview Ave | $399,999 | 2 bd · 2 ba |
| 804 River Pl | $459,900 | 2 bd · 3 ba |
| 20 Ella St | $489,000 | 3 bd · 2 ba |
| 12 Cook St | $525,000 | 4 bd · 3 ba |
| 10 DE Lazier Pl | $529,000 | 4 bd · 2 ba |
| 138 Hamburg Tpke | $535,000 | 2 bd · 2 ba |
| 52 Central Ave | $539,000 | 2 bd · 2 ba |
| 31 Center St | $580,000 | 3 bd · 2 ba |
| 12 Ogden Ter | $589,900 | 4 bd · 3 ba |
| 10 Laurel Trl | $595,000 | 3 bd · 2 ba |
| 90 Hamburg Tpke | $599,900 | 3 bd · 4 ba |
| 90 Hamburg Tpke | $599,900 | 3 bd · 4 ba |
| 126 Bartholdi Ave | $615,000 | 4 bd · 2 ba |
| 20 Center St | $640,000 | 3 bd · 2 ba |
| 6 Ward Ave | $649,000 | 4 bd · 3 ba |
| 51 Catherine St | $670,000 | 4 bd · 3 ba |
| 39 Elm St | $699,000 | 4 bd · 3 ba |
| 36 Ella St | $749,000 | 5 bd · 5 ba |
| 151 Kiel Ave | $799,000 | 4 bd · 3 ba |
| 116 Kiel Ave | $824,000 | 5 bd · 2 ba |
| 71 Bartholdi Ave | $850,000 | 13 bd · 6 ba |
| 60 Belleview Ave | $895,000 | 5 bd · 4 ba |
| 2 Ashley Ct | $899,000 | 4 bd · 3 ba |
Where it is
For sale Coming soon Recently sold— zoom out for more