Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1235 Washington Ave Asbury Park, NJ 07712

    Sponsored
    For Sale
    Pending
    $699,000

    MULTI_FAMILY - Asbury Park, NJ

    Property size:
    1,656 SF
    Lot size:
    0.14 Acres
    Days on Market:
    24
    Last Refresh:
    Feb 3 at 3:06 am

    Property Features for 1235 Washington Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    Rooms
    Bedroom 2, Bedroom 4, Bedroom 5, Bedroom 6, Bedroom 1, Bedroom 3, Basement, Bathroom 2, Bathroom 1
    Bedrooms
    6
    Bathrooms
    2
    APN
    04-01301-0000-00027
    Basement
    Full
    Size
    1,656 SF
    Lot size
    0.14 Acres

    Utilities

    Sewer type
    Public Sewer
    Water source
    Public

    Building Details

    Year built
    1930
    Floors in Building
    2
    Number of units
    2

    We can help!

    Listing Contact
    Michael Mizrahi

    Weichert Realtors-Middletown (732) 899-9700

    Listing agent Michael Mizrahi (732) 807-6900

    Listing date Jan 11, 2026

    MLS# 22534757

    Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Asbury Park Multifamily Investment

    Located in Asbury Park, this income-producing multifamily property at 1235 Washington Ave features two spacious units. Each unit contains 3 bedrooms and 1 bathroom. The property has been recently renovated and is in excellent condition. Situated minutes from Asbury Park's beaches, the location offers convenient access to shopping, dining, and transportation. The lot size is 0.14 acres, and the property size is 1656 square feet. This well-maintained property is ideal for investors seeking a turnkey opportunity with strong rental potential.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Restaurant Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Asbury Park
    County
    Monmouth
    State
    New Jersey
    Longitude
    -74.0212
    Latitude
    40.220264

    Nearby Similar for Sale

    • $1,050,000
      3,300 SF

      Versatile Triplex in Asbury Park

      Three vacant units, ideal for investors or owner-occupants.
      1017 Summerfield Ave, Asbury Park, NJ 07712
      View Details
    • $1,999,999
      Pending

      Iconic Building with Parking Lot

      Landmark building with attached parking lot, leased to Frank's Deli.
      1406 Main St, Asbury Park, NJ 07712
      View Details
    • $1,300,000
      Pending

      Asbury Park Two-Family Home

      Legal two-family near beach, ideal for owner occupant or Airbnb.
      505 6Th Ave, Asbury Park, NJ 07712
      View Details
    • $1,350,000
      3,600 SF

      Asbury Park Three-Family Home

      Spacious three-family home near beach, boardwalk, and Deal Lake.
      1702 Grand Ave, Asbury Park, NJ 07712
      View Details
    • New
      $1,549,000
      Pending

      Asbury Park Multifamily Opportunity

      Multifamily property for sale in Asbury Park, New Jersey.
      406 4Th Ave, Asbury Park, NJ 07712
      View Details
    • $875,000
      Pending

      Renovated Two-Family Home in Asbury

      Turnkey two-family home with income potential near Asbury Park.
      148 Dewitt Ave, Asbury Park, NJ 07712
      View Details
    • $980,000
      Pending

      Asbury Park Multifamily Opportunity

      Multifamily property in Asbury Park, New Jersey for sale.
      513 3Rd Ave, Asbury Park, NJ 07712
      View Details
    • $750,000
      Pending

      Renovated Corner Building, Asbury Park

      Renovated corner building in Asbury Park's Central Business District.
      700 Summerfield Ave, Asbury Park, NJ 07712
      View Details
    • Contact for pricing
      620 SF

      Renovated Garage in Asbury Park

      Newly renovated 3-car garage with private entrance in Asbury Park.
      835 Dunlewy St, Asbury Park, NJ 07712
      View Details
    • $599,000
      1,568 SF

      Asbury Park Two-Family Home

      Two-unit property near Cookman Ave, beaches, and boardwalk.
      126 Dewitt Ave, Asbury Park, NJ 07712
      View Details
    • $5,000,000
      39,600 SF

      Asbury Park Microunit Development Site

      Approved 48-unit microunit apartment development with historic theater.
      710 Mattison Ave, Asbury Park, NJ 07712
      View Details
    • $190,000
      1,800 SF

      Established Dry Cleaning Business For Sale

      Profitable dry cleaning business with equipment and loyal customer base.
      1582 Highway 35, Asbury Park, NJ 07712
      View Details

    FAQs

    What type of property is this?
    Duplex - Income-producing duplex near Asbury Park's amenities and beaches.
    Where is this duplex located?
    The property is located at 1235 Washington Ave Asbury Park, NJ.
    What is the asking price?
    The asking price for this property is $699,000.
    What are key features of this property?
    This property features: - Income-producing property in Asbury Park.; - Two recently renovated, **spacious 3-bedroom, 1-bath units.**; - **Turnkey property in excellent condition.**
    (732) 807-6900
    Request Owner's contact information
    1235 Washington Ave Asbury Park, NJ 07712
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1235 Washington Ave
    Asbury Park, NJ 07712
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1235 Washington Ave Asbury Park, NJ 07712
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michael Mizrahi
    Real Estate License ID: 2076694
    (732) 807-6900
    Learn more
    Google sign-in failed. Please try again or use another login method.