Four-Unit Quadplex with Two
For Sale
$1,725,000
Pending
396 2nd Avenue, Long Branch, NJ 07740
Multi-Family, Long Branch, NJ
Property Size3,546 SF
Lot Size0.34 Acres
Days on Market92
Property Features for 396 2nd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
10
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bedroom 6, Bathroom 3, Bedroom 4, Bedroom 3, Bathroom 1, Bathroom 4, Bedroom 5, Bedroom 10, Bathroom 2, Bedroom 2, Bedroom 7, Basement, Bedroom 8, Bedroom 9
Parking features
Open
Exterior features
Lighting
Basement
Full
Lot features
Level
View
Water
Elementary school
Anastasia
Middle school
Long Branch
High school
Long Branch
Directions
396 2nd Avenue
Subdivision
West End
Standard status
Pending
APN
27-00153-0000-00017
Size
3,546 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
15086
Utilities
Sewer type
Public Sewer
Heating system
Zoned
Cooling system
Multi Units
Water source
Public
Building Details
Year built
1907
Floors in Building
2
Number of units
4
Roof type
Shingle
Listing Agency:
Rosario Realty Inc
Listed By:
Carolina M Zocco · License #8936342
(732) 229-4900
Added: Jun 12
Changed: Sep 9
Last Checked: Sep 11 at 10:06PM
MLS# 22617865
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.
Investment Insights
Based on property information with market context.
This quadplex includes 4 rental units across two separate buildings on two lots, with a combined property size of 3,546 square feet and 0.34 acres. The property was built in 1907 and includes a basement, shingle roofing, open parking, lighting, zoned heating, and multi-unit cooling. Public water and public sewer serve the site.
All tenants are currently on month-to-month leases. The landlord covers water and sewer expenses. The property is located near Pier Village, Long Branch beaches, boardwalk attractions, shopping, dining, parks, cultural venues, and public transportation. The lots measure 54x274 at 396 2nd Avenue and 75x274 at 402 2nd Avenue, with R-4 zoning identified for the property.
The adjoining 402 2nd Avenue property, described as an 8-family property, must be purchased with this offering as one package. Both properties have been family owned for over 60 years.
All tenants are currently on month-to-month leases. The landlord covers water and sewer expenses. The property is located near Pier Village, Long Branch beaches, boardwalk attractions, shopping, dining, parks, cultural venues, and public transportation. The lots measure 54x274 at 396 2nd Avenue and 75x274 at 402 2nd Avenue, with R-4 zoning identified for the property.
The adjoining 402 2nd Avenue property, described as an 8-family property, must be purchased with this offering as one package. Both properties have been family owned for over 60 years.
Key Highlights
- 4 rental units in two separate buildings
- 3,546 square feet on 0.34 acres
- Month‑to‑month tenant leases
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,346
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.44%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,186,920
$1.2M
Cap Rate 7%
$847,800
$847.8K
Cap Rate 9%
$659,400
$659.4K
Market Conditions
NOI Build-Up for 3,546 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$90.6K $25.56/SF
− Vacancy
−$5.9K −$1.65/SF
EGI
$84.8K $23.91/SF
− OpEx
−$25.4K −$7.17/SF
NOI
$59.3K $16.74/SF
Area
Monmouth County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,186,920
Cap Rate 7%
$847,800
Cap Rate 9%
$659,400
Alternative Uses
Best Use
Multifamily LT 5
$847.8K
$741.8K – $989.1K
NOI $59,346 @ 7.0% cap · market cap 3.44%
Second Best
Apartment 5plus
$779.0K
$681.6K – $908.8K
NOI $54,530 @ 7.0% cap · market cap 3.16%
Theoretical Best
Office A
$925.9K
$810.2K – $1.08M
NOI $64,815 @ 7.0% cap · market cap 3.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,132
Businesses Nearby
Explore this area
Business Placement
Demographics for 07740, NJ
31,905
Population
15,208
Households
2.1
Avg Household Size
38
Median Age
35%
College-Educated
84%
High-School Grad
5.3 sq mi
ZIP Area
6,020
Density / Sq Mi
$73,806
Median Household Income
$38,614
Median Earnings
$1,744
Median Rent
$521,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Two-building rental property with month-to-month leases, open parking, and public water and sewer service.
Where is this quadplex located?
The property is located at 396 2nd Avenue Long Branch, NJ.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: 4 rental units in two separate buildings; 3,546 square feet on 0.34 acres; Month‑to‑month tenant leases
