Turnkey Two-Family
141 Main Avenue Ocean Grove, NJ 07756
141 Main Avenue, Ocean Grove, NJ, 07756
$999,000
Pending
For Sale
$999,000
Pending
Two-family Victorian with updated units, CAC, and a side patio near Ocean Grove beach access.
Property Size2,280 SF
Days on Market51
Property Features for 141 Main Avenue
General Information
- Standard status
- Pending
- Size
- 2,280 SF
- Property subtype
- Multi-Family / Duplex
Building Details
- Year Built
- 1904
Listing agency
RE/MAX Gateway
(732) 361-0770
Listed by
Thea Bowers · License #0787334
(732) 361-0770
Source
Compass
Added: Jun 2 Updated: Jul 10 at 1:52PM Checked: Jul 22 at 7:42AM
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 RE/MAX Gateway
Investment Insights
Based on property information with market context.
A beautifully maintained Victorian two-family home offered turn-key with most furnishings included. The large first-floor unit features a 1BR/1BA layout with sun-drenched living and dining rooms, stained glass windows, gleaming hardwood flooring, and soaring ceilings. The kitchen and bathroom have been updated, adding modern finishes to the home’s established character. The upper unit spans the 2nd and 3rd floors and offers flexible configuration with 2/3 bedrooms and 2 bathrooms, along with spacious living areas and numerous updates throughout.
The property is positioned within steps of Ocean Grove’s pristine beach and near Main Avenue, with access to the area’s dining and retail, as well as NYC transportation options and nearby Asbury Park.
On-site amenities support both everyday living and tenant convenience, including a sweet side patio for grilling and a private front porch. Central air conditioning and a common laundry room are included, and the laundry room offers a full bathroom that can be used for an after-beach rinse. Showings begin Friday 6/5, with the property listed for sale coming soon.
The property is positioned within steps of Ocean Grove’s pristine beach and near Main Avenue, with access to the area’s dining and retail, as well as NYC transportation options and nearby Asbury Park.
On-site amenities support both everyday living and tenant convenience, including a sweet side patio for grilling and a private front porch. Central air conditioning and a common laundry room are included, and the laundry room offers a full bathroom that can be used for an after-beach rinse. Showings begin Friday 6/5, with the property listed for sale coming soon.
Key Highlights
- 2‑family Victorian built in 1904 with shingle roof and wood floors
- 4 bedrooms and 4 full baths total; full basement includes tenant storage
- Large 1BR/1BA first‑floor unit with sun‑drenched living/dining rooms, stained glass windows, and updated kitchen and bath
Local 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 | $58.3k | $25.56 |
| − Vacancy | −$3.8k | −$1.65 |
| EGI | $54.5k | $23.91 |
| − OpEx | −$16.4k | −$7.17 |
| NOI | $38.2k | $16.74 |
2,280 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$545.1K
$477.0K – $636.0K
NOI $38,158 @ 7.0% cap · market cap 3.82%
Second Best
Apartment 5plus
$500.9K
$438.3K – $584.4K
NOI $35,062 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$595.4K
$520.9K – $694.6K
NOI $41,675 @ 7.0% cap · market cap 4.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-family Victorian with updated units, CAC, and a side patio near Ocean Grove beach access.
Where is this duplex located?
The property is located at 141 Main Avenue Ocean Grove, NJ.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 2‑family Victorian built in 1904 with shingle roof and wood floors; 4 bedrooms and 4 full baths total; full basement includes tenant storage; Large 1BR/1BA first‑floor unit with sun‑drenched living/dining rooms, stained glass windows, and updated kitchen and bath
