Two-Building Multifamily
402 2nd Avenue Long Branch, NJ 07740
For Sale
$2,475,000
MULTI_FAMILY - Long Branch, NJ
Property Size5,021 SF
Lot Size0.48 Acres
Price / SF$492.93
Days on Market47
Property Features for 402 2nd Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
12
Bathrooms
9
Rooms
Bedroom 4, Bedroom 2, Bathroom 8, Bedroom 7, Bathroom 6, Bathroom 5, Bedroom 6, Bedroom 5, Bathroom 3, Bedroom 8, Bathroom 2, Bathroom 7, Bedroom 9, Bedroom 11, Bathroom 4, Bathroom 9, Bathroom 1, Bedroom 12, Basement, Bedroom 3, Bedroom 10, Bedroom 1
Parking features
Open
Basement
Full
Standard status
Active
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
(732) 229-4900
Listed By:
Carolina M Zocco · License #8936342
(732) 229-4900
Added: Jun 12
Changed: Jul 24
Last Checked: Jul 28 at 1:06AM
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.
Investment Insights
Based on property information with market context.
This for-sale multifamily complex consists of two separate buildings totaling 8 rental units, each arranged to support individual household needs. The property includes 5021 square feet of building area on a combined 0.48-acre site. Tenancies are currently on month-to-month leases, and the landlord covers water and sewer, which can simplify day-to-day operating expenses for an owner.
The buildings are situated on two parcels on 2nd Avenue in Long Branch, New Jersey, with the seller offering the properties as a package. The parcel at 396 2nd Avenue measures 54 feet by 274 feet, and the parcel at 402 2nd Avenue measures 75 feet by 274 feet. The remarks also note that the property is in the R-4 zone, with the seller describing redevelopment potential in that zoning district.
For tenants and operators seeking straightforward income from a residential income property, this setup offers multiple units within two buildings and the flexibility of month-to-month tenancy. For buyers considering a larger holding or land-oriented strategy, the two-parcel configuration and R-4 zoning provide a framework to evaluate future ownership and use options in Long Branch.
The buildings are situated on two parcels on 2nd Avenue in Long Branch, New Jersey, with the seller offering the properties as a package. The parcel at 396 2nd Avenue measures 54 feet by 274 feet, and the parcel at 402 2nd Avenue measures 75 feet by 274 feet. The remarks also note that the property is in the R-4 zone, with the seller describing redevelopment potential in that zoning district.
For tenants and operators seeking straightforward income from a residential income property, this setup offers multiple units within two buildings and the flexibility of month-to-month tenancy. For buyers considering a larger holding or land-oriented strategy, the two-parcel configuration and R-4 zoning provide a framework to evaluate future ownership and use options in Long Branch.
Key Highlights
- 8 rental units across two separate buildings on two lots at 396 and 402 2nd Avenue
- All tenants are on month‑to‑month leases
- Seller covers water & sewer expenses
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 authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Eight rental units across two buildings on month-to-month leases, with landlord-paid water and sewer expenses.
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 two separate buildings on two lots at 396 and 402 2nd Avenue; All tenants are on month‑to‑month leases; Seller covers water & sewer expenses
