Four-Unit Multifamily
For Sale
$1,725,000
396 2nd Ave, Long Branch, NJ 07740
Two-building rental property with month-to-month leases and R-4 zoning in Long Branch.
Property Size3,546 SF
Price / SF$486.46
Days on Market20
Property Features for 396 2nd Ave
General Information
Standard status
Active
Size
3,546 SF
Property subtype
Multi-Family
Zoning
R-4
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Building Details
Year Built
1907
Listing Agency:
Rosario Realty Inc
(732) 229-4900
Listed By:
Carolina M Zocco · License #8936342
Source:
Obrienrealtyllc
Added: Aug 13
Changed: Aug 31
Last Checked: Aug 31 at 7:07PM
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 Rosario Realty Inc
Investment Insights
Based on property information with market context.
This multifamily property contains four rental units arranged across two separate buildings and two lots. The buildings provide 3,546 square feet of property area, with a 1907 construction date. The parcels measure 54 by 274 feet at 396 2nd Avenue and 75 by 274 feet at 402 2nd Avenue.
All units are currently occupied under month-to-month leases. Water and sewer service is paid by the landlord. The property is located in Long Branch, near Pier Village, beaches, boardwalk attractions, parks, shopping, dining, cultural venues, and public transportation. R-4 zoning is also identified for the property.
All units are currently occupied under month-to-month leases. Water and sewer service is paid by the landlord. The property is located in Long Branch, near Pier Village, beaches, boardwalk attractions, parks, shopping, dining, cultural venues, and public transportation. R-4 zoning is also identified for the property.
Key Highlights
- Four rental units across two separate buildings
- Two lots measuring 54x274 and 75x274
- 3,546 square feet of property area
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
$54,530
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
3.16%
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%
$1,090,600
$1.1M
Cap Rate 7%
$779,000
$779.0K
Cap Rate 9%
$605,889
$605.9K
Market Conditions
NOI Build-Up for 3,546 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
$106.4K $30.00/SF
− Vacancy
−$7.2K −$2.04/SF
EGI
$99.1K $27.96/SF
− OpEx
−$44.6K −$12.58/SF
NOI
$54.5K $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 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%
$1,090,600
Cap Rate 7%
$779,000
Cap Rate 9%
$605,889
Alternative Uses
Best Use
Apartment 5plus
$779.0K
$681.6K – $908.8K
NOI $54,530 @ 7.0% cap · market cap 3.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$925.9K
$810.2K – $1.08M
NOI $64,815 @ 7.0% cap · market cap 3.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,057
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?
Multifamily property - Two-building rental property with month-to-month leases and R-4 zoning in Long Branch.
Where is this multifamily property located?
The property is located at 396 2nd Ave Long Branch, NJ.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: Four rental units across two separate buildings; Two lots measuring 54x274 and 75x274; 3,546 square feet of property area
