✨ Chatham, NJ | 🛠 Development Project 🏡 | Contact for Survey 🏗

A development opportunity in Chatham, NJ. This 15,002 sqft lot currently has a 4-bedroom, 2-bathroom, 1,685 sqft single-family home. This property yields multiple exit strategies to consider.

The most valuable option is to knock down the existing structure and build a new 4,500 sqft single-family home facing Chestnut Road (the road behind the house). This strategy will require a variance in order to flip the property 180 degrees. We have already approached the town with our idea, and they confirmed that a variance, architectural plans, and site plans are needed. The ABV for this option will yeild $2,000,000 to $2,200,000.

The second option is to renovate and add a level to the current structure, then resell with an ARV (After Repair Value) of $1,600,000 to $1,700,000.

The final option would be to flip the current home without adding a level, with an ARV of $900,000 to $925,000.

With multiple exit strategies to choose from, this becomes a great investment for experienced Chatham investors.

ASKING: $750k

✨Property Highlights✨

Single Family

4 Bed/ 2 Bath

Interior Size: 1,685 sqft

Lot Size: 15,002 sqft (.34 acres)

New Build Opportunity with an ABV of $2,000,000 to $2,200,000 (Variance Needed).

Reno/ Flip Opportunity with an ARV of $1,600,000 to $1,700,000 (Add a Level).

Reno/ Flip Opportunity with an ARV of $900,000 to $925,000 (No Add a Level).

🛠Utilities🛠

Water: Public

Sewer: Public

ASKING: $750k

NEW BUILD COMPS

32 Mountainview Rd, Chatham, NJ 07928- SOLD $2.05m

32 Johnson Dr, Chatham, NJ 07928- SOLD $2.125m

3 Sycamore Dr, Chatham Twp., NJ 07928- SOLD $2m