Beach-Block Duplex with
New
For Sale
$931,000
1118 Boulevard, Seaside Heights, NJ 08751
Multi-Family, Seaside Heights, NJ
Property Size1,750 SF
Lot Size0.09 Acres
Price / SF$532
Days on Market5
Property Features for 1118 Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 6, Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 5, Bedroom 2, Bathroom 1, Bathroom 3, Basement
Parking
7
Parking features
Off Street
Patio and Porch features
Deck
Interior features
Balcony, Attic - Pull Down Strs
Exterior features
Outdoor Grill, Deck, Locked Storage, Screens, Swimming Area, Lighting
Lot features
Ocean Block, Fenced Area, Oceanside
Directions
North on Boulevard to 1118
Subdivision
Seaside Heights
Standard status
Active
APN
000-0000-000
Size
1,750 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
11218
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Forced Air
Cooling system
Zoned
Water source
Public
Water front
1
Amenities
above ground pool
porch
Building Details
Year built
1968
Floors in Building
1
Number of units
2
Flooring type
Laminate
Roof type
Shingle
Additional Structures
Storage
Listing Agency:
Weichert Realtors-Toms River
Listed By:
Steven M Bloss · License #0673728
(732) 240-0500
Added: Sep 4
Changed: Sep 8
Last Checked: Sep 8 at 3:06PM
MLS# 22627775
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 duplex property includes a front residence with five bedrooms and 1,750 square feet arranged on one level, along with a one-bedroom rear residence. The 40-by-95-foot lot includes an above-ground pool, a deck, a porch, and parking beneath the house. Two enclosed lower-level rooms, each measuring 12 by 28 feet, provide substantial storage, while the front home also has an attic and the rear residence includes two lofts. Laminate flooring, zoned forced-air heating, zoned cooling, public water, and public sewer are in place. Built in 1968, the property is located at 1118 Boulevard in Seaside Heights, within the beach-block area. The front porch faces the route of the St. Patrick’s and Columbus Day parades.
Key Highlights
- Duplex with a five‑bedroom front residence and one‑bedroom rear residence
- Front home offers 1,750 square feet on one level
- 40x95 lot with above‑ground pool, deck, porch, and off‑street parking
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
$29,288
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
3.15%
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%
$585,760
$585.8K
Cap Rate 7%
$418,400
$418.4K
Cap Rate 9%
$325,422
$325.4K
Market Conditions
NOI Build-Up for 1,750 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
$44.7K $25.56/SF
− Vacancy
−$2.9K −$1.65/SF
EGI
$41.8K $23.91/SF
− OpEx
−$12.6K −$7.17/SF
NOI
$29.3K $16.74/SF
Area
Ocean 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%
$585,760
Cap Rate 7%
$418,400
Cap Rate 9%
$325,422
Alternative Uses
Best Use
Multifamily LT 5
$418.4K
$366.1K – $488.1K
NOI $29,288 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$384.5K
$336.4K – $448.5K
NOI $26,912 @ 7.0% cap · market cap 2.89%
Theoretical Best
Office A
$457.0K
$399.8K – $533.1K
NOI $31,987 @ 7.0% cap · market cap 3.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
576
Businesses Nearby
Explore this area
Business Placement
Demographics for 08751, NJ
3,867
Population
5,319
Households
0.7
Avg Household Size
48
Median Age
39%
College-Educated
90%
High-School Grad
1.3 sq mi
ZIP Area
2,975
Density / Sq Mi
$75,000
Median Household Income
$52,273
Median Earnings
$1,437
Median Rent
$583,000
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?
Duplex - Two residences provide flexible occupancy, substantial storage, and off-street parking in Seaside Heights.
Where is this duplex located?
The property is located at 1118 Boulevard Seaside Heights, NJ.
What is the asking price?
The asking price for this property is $931,000.
What are key features of this property?
This property features: Duplex with a five‑bedroom front residence and one‑bedroom rear residence; Front home offers 1,750 square feet on one level; 40x95 lot with above‑ground pool, deck, porch, and off‑street parking
