Renovated Three-Unit
For Sale
$875,000
1315 Summerfield Avenue, Asbury Park, NJ 07712
Three residential units include a renovated vacant apartment alongside two tenant-occupied homes.
Property Size2,798 SF
Days on Market57
Property Features for 1315 Summerfield Avenue
General Information
Standard status
Active
Size
2,798 SF
Property subtype
Three Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA, 1 x 4BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$9,179
Building Details
Building Size
2,798 SF
Year Built
1925
Buildings
1
Listing Agency:
Coldwell Banker Realty
Listed By:
Joseph Gerber · License #1862374
(732) 462-4242
Source:
Sackmanrealty
Added: Aug 18
Changed: Oct 3
Last Checked: Oct 12 at 11:48PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1925, this three-unit residential property includes two first-floor apartments and a second-floor apartment. The first unit has undergone a full renovation and offers two bedrooms, one bathroom, and a galley kitchen; it is vacant for occupancy or leasing. The second first-floor apartment contains three bedrooms and one bathroom and is occupied by a tenant. The upper-level apartment provides four bedrooms and one bathroom and is also tenant-occupied.
The property is located in Asbury Park, New Jersey. Walk Score is 30, classified as Car-Dependent, while Bike Score is 55, classified as Bikeable.
The property is located in Asbury Park, New Jersey. Walk Score is 30, classified as Car-Dependent, while Bike Score is 55, classified as Bikeable.
Key Highlights
- Three‑unit residential property built in 1925
- Renovated two‑bedroom, one‑bathroom first‑floor apartment
- Renovated apartment is vacant and ready for occupancy or rental
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,828
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$936,560
$936.6K
Cap Rate 7%
$668,971
$669.0K
Cap Rate 9%
$520,311
$520.3K
Market Conditions
NOI Build-Up for 2,798 SF
Gross rent
$71.5K $25.56/SF
− Vacancy
−$4.6K −$1.65/SF
EGI
$66.9K $23.91/SF
− OpEx
−$20.1K −$7.17/SF
NOI
$46.8K $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 Rate 5%
$936,560
Cap Rate 7%
$668,971
Cap Rate 9%
$520,311
Alternative Uses
Best Use
Multifamily LT 5
$669.0K
$585.4K – $780.5K
NOI $46,828 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$614.7K
$537.9K – $717.1K
NOI $43,028 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$730.6K
$639.3K – $852.4K
NOI $51,143 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,572
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include a renovated vacant apartment alongside two tenant-occupied homes.
Where is this triplex located?
The property is located at 1315 Summerfield Avenue Asbury Park, NJ.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Three‑unit residential property built in 1925; Renovated two‑bedroom, one‑bathroom first‑floor apartment; Renovated apartment is vacant and ready for occupancy or rental
