Two-Family Victorian
141 Main Avenue Ocean Grove, NJ 07756
141 Main Avenue, Ocean Grove, NJ, 07756
$999,000
Pending
For Sale
$999,000
Pending
MULTI_FAMILY - Ocean Grove, NJ
Property Size2,280 SF
Lot Size0.04 Acres
Days on Market49
Property Features for 141 Main Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bathroom 4, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 3, Basement
- Parking features
- On Street
- Patio and Porch features
- Patio
- Exterior features
- Stained Glass, Lighting
- Basement
- Full
- Standard status
- Pending
- APN
- 35-00157-0000-00005-01
- Size
- 2,280 SF
- Lot size
- 0.04 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Annual Amount
- 14777
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1904
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Wood
- Roof type
- Shingle
Listing Agency
RE/MAX Gateway
(732) 361-0770
45 Main Ave., Ocean Grove, NJ
Listed by
Thea Bowers · License #0787334
(732) 361-0770
Added: Jun 2 Updated: Jul 11 at 1:35 am Checked: Jul 20 at 9:06 pm
MLS# 22616441
Listing URL
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 beautifully maintained two-family Victorian offers a turnkey setup with most furnishings included. The 1st-floor unit features one bedroom and one bathroom and is arranged around sunlit living and dining rooms with stained-glass windows, gleaming hardwood floors, soaring ceilings, and updated kitchen and bath finishes. The upper residence spans the 2nd and 3rd floors, providing flexible layout options with two to three bedrooms and two bathrooms, along with spacious living areas and numerous updates throughout. Outside, there is a private front porch and a side patio suited for after-beach grilling and relaxing. Central A/C is available, and there is a common laundry room with a full bathroom for added convenience.
Located in Ocean Grove, the property is described as being just steps to the area’s beach and Main Avenue, with Asbury Park and NYC transportation also referenced in the remarks. The home is offered with a required 24-hour notice for showings.
For tenants, buyers, or operators seeking an income-producing residence with unit separation, this configuration provides two distinct living spaces. The described layout also supports flexible use, including the possibility of converting back to a spacious single-family home, depending on how the next owner chooses to utilize the existing structure and floor plan.
Located in Ocean Grove, the property is described as being just steps to the area’s beach and Main Avenue, with Asbury Park and NYC transportation also referenced in the remarks. The home is offered with a required 24-hour notice for showings.
For tenants, buyers, or operators seeking an income-producing residence with unit separation, this configuration provides two distinct living spaces. The described layout also supports flexible use, including the possibility of converting back to a spacious single-family home, depending on how the next owner chooses to utilize the existing structure and floor plan.
Key Highlights
- 2‑family Victorian built in 1904 with wood flooring, shingle roof, and stained‑glass features
- Huge 1BR/1BA first‑floor unit with updated kitchen and bath, sun‑drenched living/dining, and stained‑glass windows
- Upper unit spans 2nd and 3rd floors, offering 2–3BR and 2BA with spacious living areas and numerous updates
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 separate units with updated interiors and central A/C, plus outdoor space and shared laundry for convenient beach-town living.
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 wood flooring, shingle roof, and stained‑glass features; Huge 1BR/1BA first‑floor unit with updated kitchen and bath, sun‑drenched living/dining, and stained‑glass windows; Upper unit spans 2nd and 3rd floors, offering 2–3BR and 2BA with spacious living areas and numerous updates
