Three-Family Property with Coin
New
For Sale
$1,499,000
280 Chelsea Avenue, Long Branch, NJ 07740
Long Branch multifamily property with upgraded kitchens, on-site laundry, and a mix of tenant-focused improvements.
Property Size2,564 SF
Days on Market4
Property Features for 280 Chelsea Avenue
General Information
Standard status
Active
Size
2,564 SF
Property subtype
Three Family
Additional Details
Gross Income
$112,800
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$11,276
Amenities
on-site coin-operated laundry
Building Details
Building Size
2,564 SF
Year Built
1907
Listing Agency:
RE/MAX Central
Listed By:
Michael Sclafani
(732) 972-1000
Source:
Sackmanrealty
Added: Sep 8
Changed: Sep 10
Last Checked: Sep 9 at 9:17PM
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 RE/MAX Central
Investment Insights
Based on property information with market context.
Built in 1907, this 2,564-square-foot triplex at 280 Chelsea Avenue offers 10 bedrooms and 4 full bathrooms across a three-family configuration. The property includes three newer kitchens, a newer boiler, a new roof, and new windows across half of the house. A new fence adds another recent improvement to the property.
On-site coin-operated laundry provides a practical amenity for residents and an additional operating feature for the property. The three-family layout and existing residential configuration support both investment ownership and an owner-occupant approach. Located in Long Branch, NJ 07740, the property combines substantial bedroom capacity with multiple recent building updates.
On-site coin-operated laundry provides a practical amenity for residents and an additional operating feature for the property. The three-family layout and existing residential configuration support both investment ownership and an owner-occupant approach. Located in Long Branch, NJ 07740, the property combines substantial bedroom capacity with multiple recent building updates.
Key Highlights
- Three‑family property with 10 bedrooms and 4 full bathrooms
- 2,564 SF multifamily property built in 1907
- Three newer kitchens, a newer boiler, and a new roof
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,912
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$858,240
$858.2K
Cap Rate 7%
$613,029
$613.0K
Cap Rate 9%
$476,800
$476.8K
Market Conditions
NOI Build-Up for 2,564 SF
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.
Gross rent
$65.5K $25.56/SF
− Vacancy
−$4.2K −$1.65/SF
EGI
$61.3K $23.91/SF
− OpEx
−$18.4K −$7.17/SF
NOI
$42.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$858,240
Cap Rate 7%
$613,029
Cap Rate 9%
$476,800
Alternative Uses
Best Use
Multifamily LT 5
$613.0K
$536.4K – $715.2K
NOI $42,912 @ 7.0% cap · market cap 2.86%
Second Best
Apartment 5plus
$563.3K
$492.9K – $657.2K
NOI $39,429 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$669.5K
$585.8K – $781.1K
NOI $46,866 @ 7.0% cap · market cap 3.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,621
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Long Branch multifamily property with upgraded kitchens, on-site laundry, and a mix of tenant-focused improvements.
Where is this triplex located?
The property is located at 280 Chelsea Avenue Long Branch, NJ.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Three‑family property with 10 bedrooms and 4 full bathrooms; 2,564 SF multifamily property built in 1907; Three newer kitchens, a newer boiler, and a new roof
