Renovated Three-Family Corner
413 Ridge Ave Asbury Park, NJ 07712
For Sale
$1,099,999
Recently renovated three-unit building with tenant occupancy and a mix of 3BR and 1BR layouts.
Property Size2,000 SF
Price / SF$549
Days on Market36
Property Features for 413 Ridge Ave
General Information
- Standard status
- Active
- Size
- 2,000 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1935
Listing Agency:
C21/ Solid Gold Realty
(732) 531-7772
Listed By:
Victor Alhalabi
(732) 531-7772
Source:
Elliman
Added: Jun 21
Changed: Jul 10
Last Checked: Jul 26 at 7:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of C21/ Solid Gold Realty
Investment Insights
Based on property information with market context.
This recently renovated three-family property is configured as two 3-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. The building offers more than 2,000 square feet of income-producing residential space and is currently tenant occupied. The property is presented as a turnkey option for buyers seeking a multi-unit setup with multiple unit types under one roof.
Set on a prime corner lot in Asbury Park, the building is described as being close to the beach, hospitals, and major highways. It also sits within an area noted for ongoing revitalization, supporting day-to-day livability for residents and practical access for commuting and errands.
For investors, the unit mix provides a blend of layouts, with two larger 3BR/1BA homes and a smaller 1BR/1BA apartment within the same property. With the building already tenant occupied, buyers can review current tenancy and income-generation details as part of their acquisition process. The corner-lot configuration and proximity to regional destinations may also appeal to tenants looking for convenient access to everyday needs.
Set on a prime corner lot in Asbury Park, the building is described as being close to the beach, hospitals, and major highways. It also sits within an area noted for ongoing revitalization, supporting day-to-day livability for residents and practical access for commuting and errands.
For investors, the unit mix provides a blend of layouts, with two larger 3BR/1BA homes and a smaller 1BR/1BA apartment within the same property. With the building already tenant occupied, buyers can review current tenancy and income-generation details as part of their acquisition process. The corner-lot configuration and proximity to regional destinations may also appeal to tenants looking for convenient access to everyday needs.
Key Highlights
- 1935‑built, recently renovated 3‑family building with tenant occupancy
- 6 total bedrooms across three units: two 3BR/1BA and one 1BR/1BA unit
- Over 2,000 sq ft of income‑producing space
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 | $51.1k | $25.56 |
| − Vacancy | −$3.3k | −$1.65 |
| EGI | $47.8k | $23.91 |
| − OpEx | −$14.3k | −$7.17 |
| NOI | $33.5k | $16.74 |
2,000 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$478.2K
$418.4K – $557.9K
NOI $33,472 @ 7.0% cap · market cap 3.04%
Second Best
Apartment 5plus
$439.4K
$384.5K – $512.6K
NOI $30,756 @ 7.0% cap · market cap 2.80%
Theoretical Best
Office A
$522.2K
$457.0K – $609.3K
NOI $36,557 @ 7.0% cap · market cap 3.32%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Recently renovated three-unit building with tenant occupancy and a mix of 3BR and 1BR layouts.
Where is this triplex located?
The property is located at 413 Ridge Ave 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: 1935‑built, recently renovated 3‑family building with tenant occupancy; 6 total bedrooms across three units: two 3BR/1BA and one 1BR/1BA unit; Over 2,000 sq ft of income‑producing space
