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    Triplex on Corner Lot Title is generated by Realmo AI

    223 4th Avenue, Ortley Beach, NJ 08751

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    For Sale
    $1,199,000

    MULTI_FAMILY - Ortley Beach, NJ

    Property size:
    1,470 SF
    Lot size:
    0.11 Acres
    Price / SF:
    $815/SF
    Added:
    Jun 4, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 4 at 7:06 pm

    Property Features for 223 4th Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    4
    Bathrooms
    3
    Rooms
    Bathroom 1, Basement, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 1, Bathroom 2
    Parking features
    Off Street, On Street
    Patio and Porch features
    Patio
    Interior features
    Attic - Pull Down Strs
    Fireplace
    1
    Standard status
    Active
    APN
    08-01013-0000-00001
    Size
    1,470 SF
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    15245

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard, Zoned
    Water source
    Public
    Water front
    1

    Building Details

    Year built
    1954
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Wood, Laminate, Tile - Ceramic
    Roof type
    Shingle

    We can help!

    Listing Contact
    Robert Dekanski
    Robert Dekanski

    Listing agent Robert Dekanski License #232901

    Listing office RE/MAX 1st. Advantage 727 Raritan Rd., Colonia, NJ

    Listing date Jun 4, 2026

    MLS# 22616749 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.

    HighLights

    • Sprawling multi‑family on a large corner lot with a separate efficiency cottage included
    • Year built 1954; wood, laminate, and ceramic tile flooring throughout
    • Fireplace amenities: one wood burning fireplace plus additional listed fireplace (fireplaceYN: true)
    • Public utilities: public water and public sewer
    • Heat includes baseboard and zoned heating
    • Outdoor space includes a rear patio and a fenced‑in yard, plus off‑street and on‑street parking

    Overview

    This triplex property includes two full units plus a separate efficiency cottage. The 1st floor unit features a living room with ceramic tile flooring that continues into the kitchen, an eat-in kitchen with granite counters and ample cabinetry, and direct access to a rear patio. A hallway provides laundry, a full bath with a stall shower, and two sizable bedrooms. Unit 2 includes an eat-in kitchen with ceramic tile flooring, a breakfast bar, a large living room with hardwood floors and a wood-burning fireplace, plus a full bath with a tub/shower and two bedrooms, along with in-unit laundry. The efficiency cottage offers a living room/bedroom combination, a kitchen, and a full bath with a stall shower.

    Set on a corner lot, the property provides a rear fenced yard with a patio and plenty of on- and off-street parking. It is conveniently described as being close to beaches, shopping, dining, public transportation, and major roads for commuting.

    The layout supports multiple occupancy scenarios, including living in one unit while renting the others or renting all three units. With dedicated unit features such as in-unit laundry and multiple bedroom configurations, the property is positioned for tenants seeking straightforward, self-contained living spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hotel & Motel Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ortley Beach
    County
    Ocean
    State
    New Jersey
    Longitude
    -74.075843
    Latitude
    39.956987

    FAQs

    What type of property is this?
    Triplex - Three separate living units with in-unit laundry and a fenced rear yard offer flexible rental or owner-occupant options.
    Where is this triplex located?
    The property is located at 223 4th Avenue Ortley Beach, NJ.
    What is the asking price?
    The asking price for this property is $1,199,000.
    What are key features of this property?
    This property features: Sprawling multi‑family on a large corner lot with a separate efficiency cottage included; Year built 1954; wood, laminate, and ceramic tile flooring throughout; Fireplace amenities: one wood burning fireplace plus additional listed fireplace (fireplaceYN: true)
    (732) 827-5344
    We can help!
    Listing Contact
    Robert Dekanski
    Robert Dekanski
    Real Estate License ID: 232901
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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