Building Details

Year Built 1907

Listing Agency: Rosario Realty Inc

Listed By: Carolina M Zocco · License #8936342 Show Phone

Source: Obrienrealtyllc

Added: Aug 13 Changed: Oct 2 Last Checked: Oct 7 at 5:22PM

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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

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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.

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 / Yr

$54,530

Cap Rate

3.16%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,090,600 $1.1M

Cap Rate 7%

$779,000 $779.0K

Cap Rate 9%

$605,889 $605.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,546 SF

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 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 (±1% cap)

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 (±1% cap)

NOI $64,815 @ 7.0% cap · market cap 3.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Multifamily properties

Suggested Use

Top Pick Daycare Center (Bike/Boat/Book/etc) Store Veterinary Clinic Barber Shop Storage Facility Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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