Three-Unit Triplex on Corner
For Sale
$1,099,999
413 Ridge Avenue, Asbury Park, NJ 07712
MULTI_FAMILY - Asbury Park, NJ
Property Size2,037 SF
Lot Size0.05 Acres
Price / SF$540.01
Days on Market52
Property Features for 413 Ridge Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 1, Bedroom 7, Bathroom 1, Bedroom 6, Bathroom 3, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 5
Parking features
On Street
Basement
Crawl Space
Directions
413 Ridge Ave on GPS
Standard status
Active
APN
04-01406-0000-00002
Size
2,037 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
7702
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1935
Floors in Building
2
Number of units
3
Listing Agency:
C21/ Solid Gold Realty
(732) 531-7772
Listed By:
Victor Alhalabi
(732) 531-7772
Added: Jun 16
Changed: Aug 2
Last Checked: Aug 6 at 1:06AM
MLS# 22618240
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.
Located at 413 Ridge Avenue in Asbury Park, this recently renovated three-unit triplex sits on a 0.05-acre corner lot. The property includes 2,037 square feet of income-producing space and was built in 1935. The layout features three apartments with a total of six bedrooms: two units are 3BR/1BA and one unit is 1BR/1BA.
The building is currently tenant occupied. Water service is provided by public water, and the property is served by public sewer. Parking is available on street. The property is positioned close to the beach, hospitals, and major highways, and it is within an area experiencing ongoing revitalization.
With its defined unit mix and existing occupancy, the triplex offers a straightforward residential income setup for prospective buyers.
The building is currently tenant occupied. Water service is provided by public water, and the property is served by public sewer. Parking is available on street. The property is positioned close to the beach, hospitals, and major highways, and it is within an area experiencing ongoing revitalization.
With its defined unit mix and existing occupancy, the triplex offers a straightforward residential income setup for prospective buyers.
Key Highlights
- 0.05‑acre corner lot with a 2,037 SF three‑unit triplex
- Three apartments with six total bedrooms: two 3BR/1BA and one 1BR/1BA
- Recently renovated and built in 1935
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.1k | $25.56 |
| − Vacancy | −$3.4k | −$1.65 |
| EGI | $48.7k | $23.91 |
| − OpEx | −$14.6k | −$7.17 |
| NOI | $34.1k | $16.74 |
2,037 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$487.0K
$426.2K – $568.2K
NOI $34,092 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$447.5K
$391.6K – $522.1K
NOI $31,325 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$531.9K
$465.4K – $620.6K
NOI $37,233 @ 7.0% cap · market cap 3.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
882
Businesses Nearby
Explore this area
Business Placement
Demographics for 07712, NJ
39,397
Population
19,321
Households
2
Avg Household Size
42
Median Age
49%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
3,229
Density / Sq Mi
$95,691
Median Household Income
$51,924
Median Earnings
$1,496
Median Rent
$578,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Recently renovated three-unit triplex on a corner lot with public water and sewer and on-street parking.
Where is this triplex located?
The property is located at 413 Ridge Avenue Asbury Park, NJ.
What is the asking price?
The asking price for this property is $1,099,999.
What are key features of this property?
This property features: 0.05‑acre corner lot with a 2,037 SF three‑unit triplex; Three apartments with six total bedrooms: two 3BR/1BA and one 1BR/1BA; Recently renovated and built in 1935
