Legal Duplex with Two
54 Third Avenue Toms River, NJ 08757
54 Third Avenue, Toms River, NJ, 08757
$559,999
For Sale
$559,999
SINGLE_FAMILY - Other - Toms River, NJ
Property Size1,890 SF
Lot Size0.23 Acres
Price / SF$296.30
Days on Market67
Property Features for 54 Third Avenue
General Information
- Property type
- Residential
- Property subtype
- Duplex
- Bedrooms
- 7
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bathroom 1, Bedroom 6, Bedroom 5, Bedroom 7, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 2
- Parking features
- Driveway
- Exterior features
- Thermal Window
- Fencing
- Fenced
- Standard status
- Active
- APN
- 06-00071-0000-00446
- Size
- 1,890 SF
- Lot size
- 0.23 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5574
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas
- Cooling system
- Multi Units
- Water source
- Well
Building Details
- Year built
- 1931
- Floors in Building
- 2
- Flooring type
- Vinyl, Wood
- Building materials
- Brick
- Architectural style
- Other
Listing Agency
RE/MAX Revolution
(732) 867-8617
1218 Third Avenue, Wall, NJ
Listed by
Carla Colucci · License #1866972
(732) 867-8617
Added: May 13 Checked: Jul 18 at 5:06 pm
MLS# 22614091
Listing URL
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 legal multi-family property consists of two separate dwellings on one tax bill, offering a total of seven bedrooms and two full bathrooms. The configuration is spread over four lots, and the property is presented as a duplex-style setup suitable for multiple living arrangements.
The property is located in Toms River/Berkeley Township area, with the seller noting proximity to shopping and dining, Jersey Shore beaches, parks and recreation, medical facilities, and major highways.
With approximately 1,890 square feet and a lot size of about 0.23 acres, this is a for-sale opportunity for buyers who want to perform their own due diligence regarding any future redevelopment or expansion possibilities.
The property is located in Toms River/Berkeley Township area, with the seller noting proximity to shopping and dining, Jersey Shore beaches, parks and recreation, medical facilities, and major highways.
With approximately 1,890 square feet and a lot size of about 0.23 acres, this is a for-sale opportunity for buyers who want to perform their own due diligence regarding any future redevelopment or expansion possibilities.
Key Highlights
- Legal multi‑family with two separate dwellings and 7 bedrooms plus 2 full bathrooms
- Over 4 lots totaling 10,000 sq ft (100x100), sold under one tax bill
- Brick construction with thermal windows, vinyl and wood flooring
Local Financial Insights For Multifamily LT 5
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 | $48.3k | $25.56 |
| − Vacancy | −$3.1k | −$1.65 |
| EGI | $45.2k | $23.91 |
| − OpEx | −$13.6k | −$7.17 |
| NOI | $31.6k | $16.74 |
1,890 SF · lease $25.56/SF/yr · vacancy 6.46% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$451.9K
$395.4K – $527.2K
NOI $31,631 @ 7.0% cap · market cap 5.65%
Second Best
Apartment 5plus
$415.2K
$363.3K – $484.4K
NOI $29,064 @ 7.0% cap · market cap 5.19%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Legal multi-family property with two separate dwellings and seven bedrooms across one tax bill.
Where is this duplex located?
The property is located at 54 Third Avenue 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: Legal multi‑family with two separate dwellings and 7 bedrooms plus 2 full bathrooms; Over 4 lots totaling 10,000 sq ft (100x100), sold under one tax bill; Brick construction with thermal windows, vinyl and wood flooring
