Renovated Three-Family Corner
413 Ridge Ave, Asbury Park, NJ 07712
For Sale
$999,000
Recently renovated three-unit building with tenant occupancy and a mix of 3BR and 1BR layouts.
Property Size2,037 SF
Price / SF$499.50
Days on Market142
Property Features for 413 Ridge Ave
General Information
Standard status
Size
Property subtype
Additional Details
Highway Access
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Tenancy
Listing Agency:
C21/ Solid Gold Realty
Listed By:
Victor Alhalabi
(732) 531-7772
Source:
Elliman
Added: Jun 21
Changed: Nov 8
Last Checked: Nov 8 at 7:17AM
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 C21/ Solid Gold Realty
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Investment Insights
Based on property information with market context.
This recently renovated three-family property is configured as two 3-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. The building offers more than 2,000 square feet of income-producing residential space and is currently tenant occupied. The property is presented as a turnkey option for buyers seeking a multi-unit setup with multiple unit types under one roof.
Set on a prime corner lot in Asbury Park, the building is described as being close to the beach, hospitals, and major highways. It also sits within an area noted for ongoing revitalization, supporting day-to-day livability for residents and practical access for commuting and errands.
For investors, the unit mix provides a blend of layouts, with two larger 3BR/1BA homes and a smaller 1BR/1BA apartment within the same property. With the building already tenant occupied, buyers can review current tenancy and income-generation details as part of their acquisition process. The corner-lot configuration and proximity to regional destinations may also appeal to tenants looking for convenient access to everyday needs.
Set on a prime corner lot in Asbury Park, the building is described as being close to the beach, hospitals, and major highways. It also sits within an area noted for ongoing revitalization, supporting day-to-day livability for residents and practical access for commuting and errands.
For investors, the unit mix provides a blend of layouts, with two larger 3BR/1BA homes and a smaller 1BR/1BA apartment within the same property. With the building already tenant occupied, buyers can review current tenancy and income-generation details as part of their acquisition process. The corner-lot configuration and proximity to regional destinations may also appeal to tenants looking for convenient access to everyday needs.
Key Highlights
- 1935‑built, recently renovated 3‑family building with tenant occupancy
- 6 total bedrooms across three units: two 3BR/1BA and one 1BR/1BA unit
- Over 2,000 sq ft of income‑producing space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,472
Cap Rate
3.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$669,440
$669.4K
Cap Rate 7%
$478,171
$478.2K
Cap Rate 9%
$371,911
$371.9K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$51.1K $25.56/SF
− Vacancy
−$3.3K −$1.65/SF
EGI
$47.8K $23.91/SF
− OpEx
−$14.3K −$7.17/SF
NOI
$33.5K $16.74/SF
Area
Monmouth County, NJ
Vacancy
6.46%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$669,440
Cap Rate 7%
$478,171
Cap Rate 9%
$371,911
Alternative Uses
Best Use
Multifamily LT 5
$478.2K
$418.4K – $557.9K
NOI $33,472 @ 7.0% cap · market cap 3.35%
Second Best
Apartment 5plus
$439.4K
$384.5K – $512.6K
NOI $30,756 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$522.2K
$457.0K – $609.3K
NOI $36,557 @ 7.0% cap · market cap 3.66%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
882
Businesses Nearby
Explore this area
Business Placement
Demographics for 07712, NJ
39,397
Population
19,321
Households
2
Avg Household Size
42
Median Age
49%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
3,229
Density / Sq Mi
$95,691
Median Household Income
$51,924
Median Earnings
$1,496
Median Rent
$578,300
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Monmouth County, NJ
Properties on Market for Triplexes in Monmouth County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Recently renovated three-unit building with tenant occupancy and a mix of 3BR and 1BR layouts.
Where is this triplex located?
The property is located at 413 Ridge Ave Asbury Park, NJ.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: 1935‑built, recently renovated 3‑family building with tenant occupancy; 6 total bedrooms across three units: two 3BR/1BA and one 1BR/1BA unit; Over 2,000 sq ft of income‑producing space
