Triplex with Renovated
New
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 Market5
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 4, Bedroom 9, Bathroom 1, Bedroom 7, Bedroom 8, Bedroom 6, Bathroom 2, Basement, Bedroom 1, Bedroom 2, Bedroom 5, Bathroom 3, Bedroom 3
Parking features
On Street, Off 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
(732) 462-4242
Added: Aug 18
Last Checked: Aug 22 at 3:06AM
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 triplex contains 2,798 square feet across three apartments. The first floor includes a two-bedroom, one-bathroom residence with a galley kitchen and a three-bedroom, one-bathroom residence. The two-bedroom apartment has been fully renovated and is vacant, while the other first-floor unit is occupied. A four-bedroom, one-bathroom apartment occupies the second floor and is also rented.
Built in 1925 on a 0.11-acre lot at 1315 Summerfield Avenue in Asbury Park, the property has public water and public sewer service. Parking is available both on the street and off street. The configuration includes three bathrooms, a basement, and a total of nine bedrooms across the building.
Built in 1925 on a 0.11-acre lot at 1315 Summerfield Avenue in Asbury Park, the property has public water and public sewer service. Parking is available both on the street and off street. The configuration includes three bathrooms, a basement, and a total of nine bedrooms across the building.
Key Highlights
- Three‑apartment triplex with 2798 square feet of property size
- Unit mix includes 2‑bedroom, 3‑bedroom, and 4‑bedroom apartments
- Fully renovated 2‑bedroom, 1‑bathroom first‑floor apartment is vacant
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
$46,828
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
5.35%
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%
$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
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
$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 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%
$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
Property Profile
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
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 - Two apartments are leased, while a refreshed first-floor unit is available for occupancy.
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‑apartment triplex with 2798 square feet of property size; Unit mix includes 2‑bedroom, 3‑bedroom, and 4‑bedroom apartments; Fully renovated 2‑bedroom, 1‑bathroom first‑floor apartment is vacant
