Two-Building 8-Unit Apartment
For Sale
$2,475,000
Pending
402 2nd Avenue, Long Branch, NJ 07740
Multi-Family, Long Branch, NJ
Property Size5,021 SF
Lot Size0.48 Acres
Days on Market144
Property Features for 402 2nd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
12
Bathrooms
9
Full bathrooms
9
Rooms
Bedroom 1, Bedroom 4, Bathroom 7, Bathroom 3, Bedroom 10, Bedroom 11, Bathroom 4, Bedroom 9, Bedroom 2, Bathroom 9, Bathroom 5, Basement, Bedroom 3, Bedroom 8, Bedroom 12, Bathroom 2, Bathroom 8, Bathroom 1, Bedroom 6, Bedroom 7, Bathroom 6, Bedroom 5
Parking features
Open
Basement
Full
Lot features
Level
View
Water
Elementary school
Anastasia
Middle school
Long Branch
High school
Long Branch
Directions
402 2nd Avenue
Subdivision
West End
Standard status
Pending
APN
27-00153-0000-00018
Size
5,021 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9180
Utilities
Sewer type
Public Sewer
Heating system
Zoned
Cooling system
Multi Units
Water source
Public
Building Details
Year built
1902
Floors in Building
2
Number of units
8
Roof type
Shingle
Listing Agency:
Rosario Realty Inc
Listed By:
Carolina M Zocco · License #8936342
(732) 229-4900
Added: Jun 12
Changed: Oct 26
Last Checked: Nov 2 at 7:06AM
MLS# 22617872
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.
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Investment Insights
Based on property information with market context.
This multifamily property includes two separate buildings on two lots with a combined 8 rental units and 5,021 square feet of property area. The buildings date to 1902 and feature zoned heating, multi-unit cooling, shingle roofing, open parking, public water, and public sewer. Tenancies are month-to-month, while the landlord covers water and sewer expenses.
The property is located in Long Branch near Pier Village beaches, boardwalk attractions, shopping, dining, parks, cultural venues, and public transportation. The parcels are situated at 396 2nd Avenue and 402 2nd Avenue, with lot dimensions of 54x274 and 75x274, respectively. Both properties are offered together and are located in an R-4 zone.
The property is located in Long Branch near Pier Village beaches, boardwalk attractions, shopping, dining, parks, cultural venues, and public transportation. The parcels are situated at 396 2nd Avenue and 402 2nd Avenue, with lot dimensions of 54x274 and 75x274, respectively. Both properties are offered together and are located in an R-4 zone.
Key Highlights
- 8 rental units across 2 buildings
- 5,021 square feet on 0.48 acres
- Two lots at 396 2nd Avenue and 402 2nd Avenue
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
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Lease Details
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,132
Businesses Nearby
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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 - Multifamily property with two buildings, open parking, and flexible month-to-month tenancy.
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: 8 rental units across 2 buildings; 5,021 square feet on 0.48 acres; Two lots at 396 2nd Avenue and 402 2nd Avenue
