Three-Unit Townhouse-Style
150 Lake Avenue Ocean Grove, NJ 07756
150 Lake Avenue, Ocean Grove, NJ, 07756
$1,800,000
Pending
For Sale
$1,800,000
Pending
MULTI_FAMILY - Ocean Grove, NJ
Property Size3,996 SF
Lot Size0.11 Acres
Days on Market81
Property Features for 150 Lake Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 5
- Rooms
- Bathroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bathroom 4, Bathroom 5, Bedroom 3, Bathroom 6, Basement, Bedroom 1, Bathroom 3, Bedroom 4, Bedroom 6
- Parking features
- Off Street
- Patio and Porch features
- Deck
- Exterior features
- Deck
- Basement
- Walk-Out Access
- Standard status
- Pending
- APN
- 35-00137-0000-00001
- Size
- 3,996 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 24238
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
- Water front features
- Lake Front
- Water front
- 1
Building Details
- Year built
- 1987
- Floors in Building
- 2
- Number of units
- 3
- Flooring type
- Wood, Tile - Ceramic
- Building materials
- Cedar Shake
- Roof type
- Shingle
Listing Agency
C21/ Coastal Realtors
(732) 774-7166
67 Main Ave., Ocean Grove, NJ
Listed by
Gary L Huizenga · License #8130855
(732) 774-7166
Added: Apr 29 Checked: Jul 18 at 6:06 am
MLS# 22612117
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 three-unit property is built in a townhouse style and was completed in 1987. Each unit offers two bedrooms and one and one-half baths. The homes are set up with separate utilities for each unit, with water and sewer shared across the building, helping reduce landlord coordination while keeping operational responsibility compartmentalized. Parking is also part of the layout, as each unit has its own parking space and access to a one-car garage.
Located in Historic Ocean Grove, 150 Lake Avenue in Ocean Grove, New Jersey offers a self-contained income setup designed for straightforward tenant turnover. The property’s configuration supports independent tenancies within a compact footprint, while the dedicated parking and garage features can be a practical benefit for day-to-day tenant use.
For investors, this is a well-defined three-family that can support stable rental operations with largely independent unit utility responsibility and consistent unit design across the building. For owner-occupants, the two-bedroom, 1.5-bath layout per unit provides flexibility for live-in and rent-out strategies, particularly where dedicated parking and private garage space are valued by tenants.
Located in Historic Ocean Grove, 150 Lake Avenue in Ocean Grove, New Jersey offers a self-contained income setup designed for straightforward tenant turnover. The property’s configuration supports independent tenancies within a compact footprint, while the dedicated parking and garage features can be a practical benefit for day-to-day tenant use.
For investors, this is a well-defined three-family that can support stable rental operations with largely independent unit utility responsibility and consistent unit design across the building. For owner-occupants, the two-bedroom, 1.5-bath layout per unit provides flexibility for live-in and rent-out strategies, particularly where dedicated parking and private garage space are valued by tenants.
Key Highlights
- Three‑family townhouse built in 1987, located in Historic Ocean Grove
- Each unit has 2 bedrooms and 1.5 baths, plus its own parking space and 1‑car garage
- Separate utilities for each unit except water and sewer
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 | $102.1k | $25.56 |
| − Vacancy | −$6.6k | −$1.65 |
| EGI | $95.5k | $23.91 |
| − OpEx | −$28.7k | −$7.17 |
| NOI | $66.9k | $16.74 |
3,996 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$955.4K
$836.0K – $1.11M
NOI $66,878 @ 7.0% cap · market cap 3.72%
Second Best
Apartment 5plus
$877.9K
$768.1K – $1.02M
NOI $61,450 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$1.04M
$913.0K – $1.22M
NOI $73,040 @ 7.0% cap · market cap 4.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Townhouse-style three-family built in 1987 with separate utilities and dedicated parking plus one-car garages for each unit.
Where is this triplex located?
The property is located at 150 Lake Avenue Ocean Grove, NJ.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Three‑family townhouse built in 1987, located in Historic Ocean Grove; Each unit has 2 bedrooms and 1.5 baths, plus its own parking space and 1‑car garage; Separate utilities for each unit except water and sewer
