Multifamily Property with Side
New
For Sale
$625,000
1534 Asbury Ave, Asbury Park, NJ 07712
Separate electric meters serve tenants, who pay their own electricity; ownership covers water, sewer and gas.
Property Size1,904 SF
Price / SF$328.26
Days on Market5
Property Features for 1534 Asbury Ave
General Information
Standard status
Active
Size
1,904 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1920
Tenancy
Multi
Listing Agency:
Platlabs LLC
(239) 236-2654
Listed By:
Curran Group
(732) 359-3203
Source:
Currangrp
Added: Oct 14
Changed: Oct 16
Last Checked: Oct 16 at 8:35AM
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 Platlabs LLC
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Investment Insights
Based on property information with market context.
This 1,904-square-foot multifamily property was built in 1920 and is being offered in as-is condition. It includes an additional side lot, which the property information identifies as a possible site for further development. No specific development plan or approvals are stated.
The building has separate electric meters, and tenants pay their own electric service. Ownership pays for water, sewer and gas. Current tenancies are month to month.
The building has separate electric meters, and tenants pay their own electric service. Ownership pays for water, sewer and gas. Current tenancies are month to month.
Key Highlights
- 1,904‑square‑foot multifamily property built in 1920
- Additional side lot identified for possible development
- Separate electric meters; tenants pay their own electricity
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,280
Cap Rate
4.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$585,600
$585.6K
Cap Rate 7%
$418,286
$418.3K
Cap Rate 9%
$325,333
$325.3K
Market Conditions
NOI Build-Up for 1,904 SF
Gross rent
$57.1K $30.00/SF
− Vacancy
−$3.9K −$2.04/SF
EGI
$53.2K $27.96/SF
− OpEx
−$24.0K −$12.58/SF
NOI
$29.3K $15.38/SF
Area
Monmouth County, NJ
Vacancy
6.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$585,600
Cap Rate 7%
$418,286
Cap Rate 9%
$325,333
Alternative Uses
Best Use
Apartment 5plus
$418.3K
$366.0K – $488.0K
NOI $29,280 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$497.2K
$435.0K – $580.0K
NOI $34,802 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
722
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Separate electric meters serve tenants, who pay their own electricity; ownership covers water, sewer and gas.
Where is this multifamily property located?
The property is located at 1534 Asbury Ave Asbury Park, NJ.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 1,904‑square‑foot multifamily property built in 1920; Additional side lot identified for possible development; Separate electric meters; tenants pay their own electricity
