Three-Family Property with Coin
For Sale
$1,399,000
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 Market29
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 · License #306368
(732) 972-1000
Source:
Sackmanrealty
Added: Sep 8
Changed: Oct 3
Last Checked: Oct 5 at 11:09PM
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 / Yr
$42,912
Cap Rate
3.07%
Suggested Prices Based on Cap Rates
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
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 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 3.07%
Second Best
Apartment 5plus
$563.3K
$492.9K – $657.2K
NOI $39,429 @ 7.0% cap · market cap 2.82%
Theoretical Best
Office A
$669.5K
$585.8K – $781.1K
NOI $46,866 @ 7.0% cap · market cap 3.35%
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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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 $1,399,000.
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
