Multifamily Residential
For Sale
$1,399,000
28 Norwood Avenue, Long Branch, NJ 07740
The property has central air, forced-air heating, and zoning that includes multifamily residential use.
Property Size2,878 SF
Days on Market67
Property Features for 28 Norwood Avenue
General Information
Standard status
Active
Size
2,878 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
Single Family, Residential, Multi-Family
Net Operating Income
$99,780
Taxes and HOA fees
Annual Taxes
$13,000
Amenities
Central Air, Multi Units
Forced Air
Other, Partial
Gas Water Heater
Paved, Common, Detached
Building Details
Building Size
2,878 SF
Year Built
1910
Stories
2
Listing Agency:
Beba Realty, LLC
Listed By:
Victor Gheriani
(732) 663-1000
Source:
Evrealestate
Added: Aug 28
Changed: Oct 31
Last Checked: Nov 1 at 5:12AM
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 Beba Realty, LLC
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Investment Insights
Based on property information with market context.
Built in 1910, this residential income property has central air conditioning in multiple units and forced-air heating. The exterior features include paving and detached elements.
The property is at the corner of Conover Street and Norwood Avenue in Long Branch, Monmouth County, New Jersey. Zoning designations listed for the property include single-family residential and multifamily residential.
The property is at the corner of Conover Street and Norwood Avenue in Long Branch, Monmouth County, New Jersey. Zoning designations listed for the property include single-family residential and multifamily residential.
Key Highlights
- Built in 1910
- Central air conditioning serves multiple units
- Forced‑air heating
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,258
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$885,160
$885.2K
Cap Rate 7%
$632,257
$632.3K
Cap Rate 9%
$491,756
$491.8K
Market Conditions
NOI Build-Up for 2,878 SF
Gross rent
$86.3K $30.00/SF
− Vacancy
−$5.9K −$2.04/SF
EGI
$80.5K $27.96/SF
− OpEx
−$36.2K −$12.58/SF
NOI
$44.3K $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%
$885,160
Cap Rate 7%
$632,257
Cap Rate 9%
$491,756
Alternative Uses
Best Use
Apartment 5plus
$632.3K
$553.2K – $737.6K
NOI $44,258 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$751.5K
$657.6K – $876.8K
NOI $52,605 @ 7.0% cap · market cap 3.76%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1,274
Businesses Nearby
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Business Placement
Demographics for 07740, NJ
31,905
Population
15,208
Households
2.1
Avg Household Size
38
Median Age
35%
College-Educated
84%
High-School Grad
5.3 sq mi
ZIP Area
6,020
Density / Sq Mi
$73,806
Median Household Income
$38,614
Median Earnings
$1,744
Median Rent
$521,900
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - The property has central air, forced-air heating, and zoning that includes multifamily residential use.
Where is this residential income property located?
The property is located at 28 Norwood Avenue Long Branch, NJ.
What is the asking price?
The asking price for this property is $1,399,000.
What are key features of this property?
This property features: Built in 1910; Central air conditioning serves multiple units; Forced‑air heating
