Victorian Multifamily
24 S Vassar Sq Ventnor, NJ 08406
For Sale
$999,000
MULTI_FAMILY - Ventnor, NJ
Property Size3,000 SF
Price / SF$333
Days on Market115
Property Features for 24 S Vassar Sq
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Standard status
- Active
- Size
- 3,000 SF
Building Details
- Year built
- 1912
Listing Agency:
BHHS Fox & Roach Margate
Listed By:
Judi Cohen · License #9808071
(609) 513-2303
Added: Mar 31
Changed: Jul 23
Last Checked: Jul 23 at 12:06PM
MLS# 606165
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. 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 stately three-story Victorian multifamily residence is presented as well-maintained and features seven bedrooms in the main structure. The home includes a classic front porch, along with a private back deck and yard.
A garden-level one-bedroom apartment adds an additional unit within the property. The listing is positioned in Ventnor, described as being in the North Beach area and approximately one block from the beach and boardwalk.
Overall, the layout combines a larger primary residence configuration with a separate one-bedroom unit, creating a practical setup for multifamily use.
A garden-level one-bedroom apartment adds an additional unit within the property. The listing is positioned in Ventnor, described as being in the North Beach area and approximately one block from the beach and boardwalk.
Overall, the layout combines a larger primary residence configuration with a separate one-bedroom unit, creating a practical setup for multifamily use.
Key Highlights
- 1912 three‑story Victorian with 7 bedrooms in Ventnor North Beach
- Multi‑family layout with a garden level 1‑bedroom apartment for added rental income
- Classic front porch plus a private back deck and yard
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 | $52.2k | $17.40 |
| − Vacancy | −$3.4k | −$1.13 |
| EGI | $48.8k | $16.27 |
| − OpEx | −$14.6k | −$4.88 |
| NOI | $34.2k | $11.39 |
3,000 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$488.1K
$427.1K – $569.4K
NOI $34,165 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$429.0K
$375.4K – $500.5K
NOI $30,029 @ 7.0% cap · market cap 3.01%
Theoretical Best
Warehouse
$1.12M
$977.5K – $1.30M
NOI $78,203 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Three-story Victorian offers seven bedrooms plus a garden-level one-bedroom apartment for additional income potential.
Where is this duplex located?
The property is located at 24 S Vassar Sq Ventnor, NJ.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 1912 three‑story Victorian with 7 bedrooms in Ventnor North Beach; Multi‑family layout with a garden level 1‑bedroom apartment for added rental income; Classic front porch plus a private back deck and yard
