4-Unit Multifamily
New
For Sale
$1,199,999
81 Wallace Street, Red Bank, NJ 07701
Multi-Family, Red Bank, NJ
Property Size2,688 SF
Lot Size0.11 Acres
Price / SF$446.43
Days on Market4
Property Features for 81 Wallace Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 2, Bathroom 4, Bedroom 3, Basement, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 1
Parking features
On Street
Elementary school
Red Bank Prm
Middle school
Red Bank
High school
Red Bank Reg
Directions
Broad St. to Wallace St.
Standard status
Active
APN
39-00026-0000-00011
Size
2,688 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
16562
Utilities
Sewer type
Public Sewer
Heating system
Zoned
Water source
Public
Building Details
Year built
1910
Floors in Building
2
Number of units
4
Listing Agency:
O'Brien Realty, LLC
(732) 229-3532
Listed By:
Scott T Gilbert · License #1540098
(732) 241-7120
Added: Oct 15
Changed: Oct 17
Last Checked: Oct 18 at 12:06AM
MLS# 22632598
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.
This four-unit multifamily property contains 2,688 square feet on a 0.11-acre lot. Built in 1910, the building has zoned heating, and the property is served by public water and public sewer. On-street parking is available.
The property is on Wallace Street in Red Bank, New Jersey. Downtown restaurants, shops, and entertainment are described as within walking distance.
The property is on Wallace Street in Red Bank, New Jersey. Downtown restaurants, shops, and entertainment are described as within walking distance.
Key Highlights
- Four‑unit multifamily property
- 2,688 square feet on a 0.11‑acre lot
- Built in 1910
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,987
Cap Rate
3.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$899,740
$899.7K
Cap Rate 7%
$642,671
$642.7K
Cap Rate 9%
$499,856
$499.9K
Market Conditions
NOI Build-Up for 2,688 SF
Gross rent
$68.7K $25.56/SF
− Vacancy
−$4.4K −$1.65/SF
EGI
$64.3K $23.91/SF
− OpEx
−$19.3K −$7.17/SF
NOI
$45.0K $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%
$899,740
Cap Rate 7%
$642,671
Cap Rate 9%
$499,856
Alternative Uses
Best Use
Multifamily LT 5
$642.7K
$562.3K – $749.8K
NOI $44,987 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$590.5K
$516.7K – $688.9K
NOI $41,336 @ 7.0% cap · market cap 3.44%
Theoretical Best
Office A
$701.9K
$614.2K – $818.9K
NOI $49,132 @ 7.0% cap · market cap 4.09%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,766
Businesses Nearby
Explore this area
Business Placement
Demographics for 07701, NJ
24,568
Population
11,082
Households
2.2
Avg Household Size
43
Median Age
53%
College-Educated
93%
High-School Grad
9.2 sq mi
ZIP Area
2,670
Density / Sq Mi
$113,630
Median Household Income
$62,309
Median Earnings
$1,971
Median Rent
$551,500
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?
Quadplex - Four separate residences provide an existing rental configuration with zoned heating and public water and sewer.
Where is this quadplex located?
The property is located at 81 Wallace Street Red Bank, NJ.
What is the asking price?
The asking price for this property is $1,199,999.
What are key features of this property?
This property features: Four‑unit multifamily property; 2,688 square feet on a 0.11‑acre lot; Built in 1910
