Two-Dwelling Multifamily
For Sale
$559,999
Pending
54 Third Ave, Toms River, NJ 08757
Two separate residences provide options for rental occupancy, owner use, or multigenerational living.
Property Size1,890 SF
Lot Size0.23 Acres
Days on Market97
Property Features for 54 Third Ave
General Information
Standard status
Pending
Size
1,890 SF
Lot size
0.23 Acres
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1931
Buildings
2
Listing Agency:
Platlabs LLC
(239) 236-2654
Listed By:
Curran Group
(732) 359-3203
Source:
Currangrp
Added: Jul 13
Changed: Oct 16
Last Checked: Oct 16 at 8:23AM
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 Platlabs LLC
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Investment Insights
Based on property information with market context.
This multifamily property includes two separate dwellings with a combined seven bedrooms and two full bathrooms. The buildings total 1,890 square feet and were constructed in 1931, providing a residential configuration suited to multiple occupancy arrangements. The property is identified as a legal multifamily use and carries one tax bill.
The asset spans four lots measuring 100 by 100 feet in total, or 10,000 square feet. Located at 54 Third Ave in Toms River, the property is near shopping, dining, parks, recreation, medical facilities, Jersey Shore beaches, and major highways. The two-dwelling layout allows for separate rental use, partial owner occupancy, or extended-family living, subject to buyer due diligence regarding future redevelopment or expansion.
The asset spans four lots measuring 100 by 100 feet in total, or 10,000 square feet. Located at 54 Third Ave in Toms River, the property is near shopping, dining, parks, recreation, medical facilities, Jersey Shore beaches, and major highways. The two-dwelling layout allows for separate rental use, partial owner occupancy, or extended-family living, subject to buyer due diligence regarding future redevelopment or expansion.
Key Highlights
- Two separate dwellings with 7 bedrooms and 2 full bathrooms
- 1,890 square feet across buildings constructed in 1931
- Four lots measuring 100 by 100 feet, totaling 10,000 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,064
Cap Rate
5.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$581,280
$581.3K
Cap Rate 7%
$415,200
$415.2K
Cap Rate 9%
$322,933
$322.9K
Market Conditions
NOI Build-Up for 1,890 SF
Gross rent
$56.7K $30.00/SF
− Vacancy
−$3.9K −$2.04/SF
EGI
$52.8K $27.96/SF
− OpEx
−$23.8K −$12.58/SF
NOI
$29.1K $15.38/SF
Area
Ocean 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%
$581,280
Cap Rate 7%
$415,200
Cap Rate 9%
$322,933
Alternative Uses
Best Use
Apartment 5plus
$415.2K
$363.3K – $484.4K
NOI $29,064 @ 7.0% cap · market cap 5.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$493.5K
$431.8K – $575.8K
NOI $34,546 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Explore this area
Business Placement
Demographics for 08757, NJ
34,679
Population
19,302
Households
1.8
Avg Household Size
63
Median Age
19%
College-Educated
90%
High-School Grad
17.8 sq mi
ZIP Area
1,948
Density / Sq Mi
$56,133
Median Household Income
$37,571
Median Earnings
$1,714
Median Rent
$253,200
Median Home Value
Check the figures for this property
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?
Multifamily property - Two separate residences provide options for rental occupancy, owner use, or multigenerational living.
Where is this multifamily property located?
The property is located at 54 Third Ave Toms River, NJ.
What is the asking price?
The asking price for this property is $559,999.
What are key features of this property?
This property features: Two separate dwellings with 7 bedrooms and 2 full bathrooms; 1,890 square feet across buildings constructed in 1931; Four lots measuring 100 by 100 feet, totaling 10,000 square feet
