Renovated Triplex with Rental
For Sale
$875,000
1315 Summerfield Avenue, Asbury Park, NJ 07712
Multi-Family, Asbury Park, NJ
Property Size2,798 SF
Lot Size0.11 Acres
Price / SF$312.72
Days on Market51
Property Features for 1315 Summerfield Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 2, Basement, Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 4, Bathroom 3, Bedroom 3, Bedroom 6, Bedroom 7, Bedroom 8, Bedroom 9
Parking features
Off Street, On Street
Basement
Full
Elementary school
Bangs Avenue
High school
Asbury Park
Directions
Rt 35 south To w.bangs. GPS
Standard status
Active
APN
04-01303-0000-00039
Size
2,798 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9179
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1925
Floors in Building
2
Number of units
3
Listing Agency:
Coldwell Banker Realty
(732) 462-4242
Listed By:
Joseph Gerber · License #1862374
(917) 699-7596
Added: Aug 18
Changed: Oct 2
Last Checked: Oct 7 at 6:06AM
MLS# 22625764
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 2,798-square-foot triplex, built in 1925, contains three apartments across two levels. The first floor includes a renovated two-bedroom, one-bath apartment with a galley kitchen and a separate three-bedroom, one-bath apartment. The second-floor residence offers four bedrooms and one bathroom. One apartment is vacant, while the other two are tenant-occupied.
The property occupies 0.11 acres at 1315 Summerfield Avenue in Asbury Park, New Jersey. Public water and public sewer serve the property, with both off-street and on-street parking available. The configuration provides three distinct residential units with varied bedroom counts and a recently renovated apartment.
The property occupies 0.11 acres at 1315 Summerfield Avenue in Asbury Park, New Jersey. Public water and public sewer serve the property, with both off-street and on-street parking available. The configuration provides three distinct residential units with varied bedroom counts and a recently renovated apartment.
Key Highlights
- Three‑unit triplex with 2,798 square feet of property area
- 0.11‑acre property at 1315 Summerfield Avenue, Asbury Park, NJ 07712
- First‑floor apartment renovated with 2 bedrooms, 1 bathroom, and a galley kitchen
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.
Property Analytics
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - One apartment is vacant, while two are tenant-occupied, creating a mix of immediate occupancy and established tenancy.
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 triplex with 2,798 square feet of property area; 0.11‑acre property at 1315 Summerfield Avenue, Asbury Park, NJ 07712; First‑floor apartment renovated with 2 bedrooms, 1 bathroom, and a galley kitchen
