Queen Anne 4-Unit
New
For Sale
$1,490,000
22 Prospect Avenue, Atlantic Highlands, NJ 07716
Multi-Family, Atlantic Highlands, NJ
Property Size5,700 SF
Lot Size0.36 Acres
Price / SF$261.40
Days on Market2
Property Features for 22 Prospect Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential
Bedrooms
6
Bathrooms
6
Full bathrooms
5
Half bathrooms
1
Rooms
Basement, Bedroom 1, Bedroom 6, Bathroom 6, Bathroom 3, Bedroom 4, Bedroom 2, Bathroom 1, Bathroom 2, Bathroom 5, Bedroom 5, Bedroom 3, Bathroom 4
Parking features
Off Street, On Street
Interior features
Balcony
Fireplace
1
Basement
Full
Lot features
Level
View
Water
Elementary school
Atl Highland
Middle school
Henry Hudson Reg
High school
Henry Hudson
Directions
Hwy 36 to 1st Ave right on East Mount Ave property is at the top of the hill
Standard status
Active
APN
05-00074-0000-00003
Size
5,700 SF
Lot size
0.36 Acres
Utilities
Sewer type
Public Sewer
Cooling system
Multi Units
Water source
Public
Amenities
wood paneling
pocket doors
stain glass windows
coffered ceilings
inlaid wood floors
Building Details
Year built
1904
Floors in Building
3
Number of units
4
Flooring type
Wood, Tile - Ceramic
Building materials
Cedar Shake
Roof type
Shingle
Listing Agency:
O'Brien Realty, LLC
Listed By:
Laura Gambacorto
(732) 229-3532
Added: Oct 15
Last Checked: Oct 16 at 7:06AM
MLS# 22632597
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.
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Investment Insights
Based on property information with market context.
Built in 1904, this 5,700-square-foot Queen Anne residence contains four units and is offered with an adjacent vacant lot. Interior details include wood paneling, pocket doors, stained glass, coffered ceilings, and inlaid wood flooring. The home also features a balcony and fireplace; the property is being sold as-is.
The two parcels total 0.36 acres. The residence sits on a hill with views of the Manhattan skyline. Public water and sewer serve the property, and parking is available both on and off street.
The two parcels total 0.36 acres. The residence sits on a hill with views of the Manhattan skyline. Public water and sewer serve the property, and parking is available both on and off street.
Key Highlights
- Four‑family residence with 5,700 square feet of property size
- Built in 1904 with Queen Anne architecture
- Adjacent vacant lot included; two parcels total 0.36 acres
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.
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Property Analytics
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Quadplex - The property pairs a four-family residence with a neighboring vacant parcel.
Where is this quadplex located?
The property is located at 22 Prospect Avenue 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 with 5,700 square feet of property size; Built in 1904 with Queen Anne architecture; Adjacent vacant lot included; two parcels total 0.36 acres
