Historic Four-Family Residence with Adjacent
New
For Sale
$1,490,000
22 Prospect Ave, Atlantic Highlands, NJ 07716
The offering includes a four-unit home and a separate vacant parcel, with the residence conveyed in as-is condition.
Property Size5,700 SF
Days on Market2
Property Features for 22 Prospect Ave
General Information
Standard status
Active
Size
5,700 SF
Property subtype
Investment
Building Details
Building Size
5,700 SF
Year Built
1904
Buildings
1
Units
4
Construction
Queen Anne
Tenancy
Multi
Listing Agency:
O'Brien Realty
Listed By:
Laura Gambacorto
(732) 229-3532
Source:
Elliman
Added: Oct 16
Last Checked: Oct 16 at 2:29PM
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 O'Brien Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1904, this four-family residence features wood paneling, pocket doors, stained glass windows, coffered ceilings, and inlaid wood floors. The home is being sold as is, and the property also includes a separate vacant lot. The house and land are identified as Block 74 Lot 3 and Block 74 Lot 2, respectively.
The address is 22 Prospect Ave in Atlantic Highlands, New Jersey. Walk Score is 69 and Bike Score is 56.
The address is 22 Prospect Ave in Atlantic Highlands, New Jersey. Walk Score is 69 and Bike Score is 56.
Key Highlights
- Four‑family residence built in 1904
- Separate vacant lot included; buyer to conduct due diligence on the parcel
- Interior details include pocket doors, stained glass, coffered ceilings, and inlaid wood floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$95,396
Cap Rate
6.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,907,920
$1.9M
Cap Rate 7%
$1,362,800
$1.4M
Cap Rate 9%
$1,059,956
$1.1M
Market Conditions
NOI Build-Up for 5,700 SF
Gross rent
$145.7K $25.56/SF
− Vacancy
−$9.4K −$1.65/SF
EGI
$136.3K $23.91/SF
− OpEx
−$40.9K −$7.17/SF
NOI
$95.4K $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 Rate 5%
$1,907,920
Cap Rate 7%
$1,362,800
Cap Rate 9%
$1,059,956
Alternative Uses
Best Use
Multifamily LT 5
$1.36M
$1.19M – $1.59M
NOI $95,396 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,655 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$1.49M
$1.30M – $1.74M
NOI $104,187 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
569
Businesses Nearby
Explore this area
Business Placement
Demographics for 07716, NJ
8,713
Population
3,931
Households
2.2
Avg Household Size
48
Median Age
47%
College-Educated
92%
High-School Grad
4.4 sq mi
ZIP Area
1,980
Density / Sq Mi
$124,096
Median Household Income
$60,639
Median Earnings
$1,863
Median Rent
$621,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - The offering includes a four-unit home and a separate vacant parcel, with the residence conveyed in as-is condition.
Where is this quadplex located?
The property is located at 22 Prospect Ave Atlantic Highlands, NJ.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: Four‑family residence built in 1904; Separate vacant lot included; buyer to conduct due diligence on the parcel; Interior details include pocket doors, stained glass, coffered ceilings, and inlaid wood floors
