Three-Unit Residential
For Sale
$1,499,900
502 Laurel Avenue, Point Pleasant Beach, NJ 08742
Multi-Family, Point Pleasant Beach, NJ
Property Size2,781 SF
Lot Size0.20 Acres
Price / SF$539.34
Days on Market97
Property Features for 502 Laurel Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Basement, Bathroom 3, Bedroom 2, Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 6, Bedroom 4
Parking features
Off Street
Basement
Walk-Out Access, Full
Elementary school
Antrim
High school
Point Pleasant Beach
Directions
Home is located between Route 35 North & 35 South.
Subdivision
Pt Pleasant Bch
Standard status
Active
APN
26-00077-0000-00014
Size
2,781 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8523
Utilities
Sewer type
Public Sewer
Cooling system
Multi Units
Water source
Public
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Roof type
Shingle
Listing Agency:
RE/MAX Bay Point Realtors · RE/MAX International
Listed By:
Ronald J Stoner · License #9231127
(732) 899-8202
Added: Jul 13
Changed: Oct 17
Last Checked: Oct 17 at 5:06AM
MLS# 22621332
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.
Built in 1900, this 2,781-square-foot residential property contains three separate units. The first-floor residence includes three bedrooms, a full bathroom with tub, an eat-in kitchen, living and dining rooms, an enclosed front porch, and access toward the garage. The second-floor unit offers two bedrooms, a full bathroom with tub, an eat-in kitchen, and a living area. A one-bedroom third-floor unit includes a full bathroom with shower stall, living room, and eat-in kitchen.
The 0.2-acre property is located on Laurel Avenue in Point Pleasant Beach, with access to public water and public sewer. A long driveway provides off-street and backyard parking. The property also features a shingle roof and multi-unit cooling.
The 0.2-acre property is located on Laurel Avenue in Point Pleasant Beach, with access to public water and public sewer. A long driveway provides off-street and backyard parking. The property also features a shingle roof and multi-unit cooling.
Key Highlights
- Three separate residential units totaling 2,781 square feet
- Unit mix includes 3 bedrooms, 2 bedrooms, and 1 bedroom
- 0.2‑acre lot with long driveway and backyard parking
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,543
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$930,860
$930.9K
Cap Rate 7%
$664,900
$664.9K
Cap Rate 9%
$517,144
$517.1K
Market Conditions
NOI Build-Up for 2,781 SF
Gross rent
$71.1K $25.56/SF
− Vacancy
−$4.6K −$1.65/SF
EGI
$66.5K $23.91/SF
− OpEx
−$19.9K −$7.17/SF
NOI
$46.5K $16.74/SF
Area
Ocean 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%
$930,860
Cap Rate 7%
$664,900
Cap Rate 9%
$517,144
Alternative Uses
Best Use
Multifamily LT 5
$664.9K
$581.8K – $775.7K
NOI $46,543 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$610.9K
$534.6K – $712.8K
NOI $42,766 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$726.2K
$635.4K – $847.2K
NOI $50,832 @ 7.0% cap · market cap 3.39%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,048
Businesses Nearby
Explore this area
Business Placement
Demographics for 08742, NJ
25,056
Population
12,604
Households
2
Avg Household Size
46
Median Age
52%
College-Educated
95%
High-School Grad
5.6 sq mi
ZIP Area
4,474
Density / Sq Mi
$111,983
Median Household Income
$57,547
Median Earnings
$1,879
Median Rent
$576,300
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?
Triplex - Historic coastal-area property with separate residential units, public utilities, and off-street parking.
Where is this triplex located?
The property is located at 502 Laurel Avenue Point Pleasant Beach, NJ.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: Three separate residential units totaling 2,781 square feet; Unit mix includes 3 bedrooms, 2 bedrooms, and 1 bedroom; 0.2‑acre lot with long driveway and backyard parking
