8-Unit Apartment
For Sale
$2,475,000
402 2nd Ave, Long Branch, NJ 07740
Two-building rental property with month-to-month leases and landlord-paid water and sewer.
Property Size5,021 SF
Price / SF$492.93
Days on Market67
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Property Features for 402 2nd Ave
General Information
Standard status
Active
Size
5,021 SF
Property subtype
Multi-Family
Zoning
R-4
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
8
Building Details
Year Built
1902
Buildings
2
Listing Agency:
Rosario Realty Inc
Listed By:
Carolina M Zocco · License #8936342
(732) 229-4900
Source:
Mynewjerseyrealestate
Added: Aug 10
Changed: Oct 11
Last Checked: Oct 7 at 1:33PM
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 apartment property includes two buildings with a combined eight rental units on two lots. The buildings date to 1902 and provide approximately 5,021 square feet of property area. All units are occupied under month-to-month leases, giving the ownership structure flexibility for future leasing decisions or potential owner occupancy. The landlord currently pays water and sewer expenses.
The property is located at 402 2nd Ave in Long Branch, New Jersey, near Pier Village beaches, boardwalk attractions, shopping, dining, parks, and cultural venues. Public transportation and beach-oriented amenities are also nearby. The two lots measure 54x274 at 396 2nd Avenue and 75x274 at 402 2nd Avenue. Both parcels are situated in an R-4 zone and are being offered together as one package.
The property is located at 402 2nd Ave in Long Branch, New Jersey, near Pier Village beaches, boardwalk attractions, shopping, dining, parks, and cultural venues. Public transportation and beach-oriented amenities are also nearby. The two lots measure 54x274 at 396 2nd Avenue and 75x274 at 402 2nd Avenue. Both parcels are situated in an R-4 zone and are being offered together as one package.
Key Highlights
- Eight rental units across two buildings
- Two lots: 54x274 at 396 2nd Avenue and 75x274 at 402 2nd Avenue
- R‑4 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,213
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,544,260
$1.5M
Cap Rate 7%
$1,103,043
$1.1M
Cap Rate 9%
$857,922
$857.9K
Market Conditions
NOI Build-Up for 5,021 SF
Gross rent
$150.6K $30.00/SF
− Vacancy
−$10.2K −$2.04/SF
EGI
$140.4K $27.96/SF
− OpEx
−$63.2K −$12.58/SF
NOI
$77.2K $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%
$1,544,260
Cap Rate 7%
$1,103,043
Cap Rate 9%
$857,922
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 authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
8
Residential units
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-building rental property with month-to-month leases and landlord-paid water and sewer.
Where is this apartment building located?
The property is located at 402 2nd Ave 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: Eight rental units across two buildings; Two lots: 54x274 at 396 2nd Avenue and 75x274 at 402 2nd Avenue; R‑4 zoning
