Three-Family Property with
New
For Sale
$1,499,000
280 Chelsea Avenue, Long Branch, NJ 07740
Multi-Family, Long Branch, NJ
Property Size2,564 SF
Lot Size0.17 Acres
Price / SF$584.63
Days on Market1
Property Features for 280 Chelsea Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Residential, Multi-Family
Bedrooms
10
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 10, Bedroom 8, Bedroom 9, Bedroom 1, Bedroom 7, Bathroom 4, Basement, Bathroom 1, Bedroom 5, Bedroom 3, Bathroom 2, Bedroom 6, Bedroom 2, Bathroom 3, Bedroom 4
Parking features
Paved or Surfaced, Off Street
Basement
Walk-Out Access, Finished
Middle school
Long Branch
Directions
280 Chelsea Ave, Long Branch NJ 07740
Standard status
Active
APN
27-00194-0000-00008
Size
2,564 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
11276
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Multi Units
Water source
Public
Amenities
on-site coin-operated laundry
Building Details
Year built
1907
Floors in Building
2
Number of units
3
Roof type
Shingle
Listing Agency:
RE/MAX Central · RE/MAX International
(732) 972-1000
Listed By:
Michael Sclafani · License #306368
(908) 415-5622
Added: Sep 8
Last Checked: Sep 8 at 11:06AM
MLS# 22628177
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.
Investment Insights
Based on property information with market context.
This 2,564-square-foot triplex contains 10 bedrooms and 4 full bathrooms across three residential units. Recent property improvements include three newer kitchens, a new roof, new windows throughout half of the house, a new fence, and a newer boiler. On-site coin-operated laundry adds a practical amenity for residents and an additional operating feature for the property.
Built in 1907 on a 0.17-acre lot, the property has forced-air heating, multi-unit cooling, a shingle roof, and paved or surfaced off-street parking. Public water and public sewer serve the property. The address is 280 Chelsea Avenue in Long Branch, New Jersey.
Built in 1907 on a 0.17-acre lot, the property has forced-air heating, multi-unit cooling, a shingle roof, and paved or surfaced off-street parking. Public water and public sewer serve the property. The address is 280 Chelsea Avenue in Long Branch, New Jersey.
Key Highlights
- Three‑family triplex with 10 bedrooms and 4 full bathrooms
- 2,564 square feet on a 0.17‑acre lot
- Three newer kitchens, new roof, and newer boiler
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
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family layout with recent kitchen, roof, window, fence, and boiler 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 triplex with 10 bedrooms and 4 full bathrooms; 2,564 square feet on a 0.17‑acre lot; Three newer kitchens, new roof, and newer boiler
