Two-Building Multifamily
402 2nd Avenue Long Branch, NJ 07740
402 2nd Avenue, Long Branch, NJ, 07740
$2,475,000
For Sale
$2,475,000
Two separate buildings totaling 8 rental units on two lots in Long Branch, near Pier Village and the boardwalk.
Property Size5,021 SF
Price / SF$492.93
Days on Market78
Property Features for 402 2nd Avenue
General Information
- Standard status
- Active
- Size
- 5,021 SF
- Property subtype
- Multi-Family / 7+ Family
Building Details
- Year Built
- 1902
Listing agency
Rosario Realty Inc
(732) 229-4900
Listed by
Carolina M Zocco · License #8936342
(732) 229-4900
Source
Compass
Added: May 6 Updated: Jul 21 at 3:36AM Checked: Jul 21 at 3:36AM
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 for-sale multifamily complex includes two distinct buildings located on two separate lots, with a total of 8 rental units. Each unit is described as uniquely tailored, with a layout designed to maximize space and comfort within the overall property configuration.
The buildings are located at 402 2nd Avenue in Long Branch, New Jersey. Public remarks note the property is near Pier Village beaches, boardwalk attractions, and local amenities.
With two buildings under one ownership structure, the property offers a practical setup for an investor or buyer seeking an 8-unit rental offering in a coastal Long Branch setting.
The buildings are located at 402 2nd Avenue in Long Branch, New Jersey. Public remarks note the property is near Pier Village beaches, boardwalk attractions, and local amenities.
With two buildings under one ownership structure, the property offers a practical setup for an investor or buyer seeking an 8-unit rental offering in a coastal Long Branch setting.
Key Highlights
- Multi‑family complex with two separate buildings totaling 8 rental units on two lots in Long Branch
- 3‑story buildings with vinyl siding and shingle roof
- Full basement
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $150.6k | $30.00 |
| − Vacancy | −$10.2k | −$2.04 |
| EGI | $140.4k | $27.96 |
| − OpEx | −$63.2k | −$12.58 |
| NOI | $77.2k | $15.38 |
5,021 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$965.2K – $1.29M
NOI $77,213 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,776 @ 7.0% cap · market cap 3.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Two separate buildings totaling 8 rental units on two lots in Long Branch, near Pier Village and the boardwalk.
Where is this apartment building located?
The property is located at 402 2nd Avenue Long Branch, NJ.
What is the asking price?
The asking price for this property is $2,475,000.
What are key features of this property?
This property features: Multi‑family complex with two separate buildings totaling 8 rental units on two lots in Long Branch; 3‑story buildings with vinyl siding and shingle roof; Full basement
