Renovated 5-Unit Apartment
905 Grand Avenue Asbury Park, NJ 07712
For Sale
$1,200,000
Fully leased five-unit building with two studios and three one-bedroom apartments, recently renovated exterior, newer electric and boiler.
Property Size4,086 SF
Price / SF$293.69
Days on Market116
Property Features for 905 Grand Avenue
General Information
- Standard status
- Active
- Size
- 4,086 SF
- Property subtype
- Multi-Family / Five Family
Building Details
- Year Built
- 1925
Listing Agency:
Sackman Realty
(732) 798-8188
Listed By:
Patrick Schiavino · License #8632233
(732) 798-8188
Source:
Compass
Added: Mar 30
Changed: Jul 23
Last Checked: Jul 23 at 7:15AM
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 Sackman Realty
Investment Insights
Based on property information with market context.
This beautifully renovated and well-maintained five-unit apartment building offers a mix of two studio units and three one-bedroom units. The property is fully leased. Exterior renovations have been completed, and the building has newer electric and boiler systems.
The property is located at 905 Grand Avenue in Asbury Park, New Jersey.
With all units currently leased, the building presents a straightforward residential income configuration built around recently updated exterior and mechanical/electrical improvements.
The property is located at 905 Grand Avenue in Asbury Park, New Jersey.
With all units currently leased, the building presents a straightforward residential income configuration built around recently updated exterior and mechanical/electrical improvements.
Key Highlights
- 5‑unit apartment building with 2 studios and 3 one‑bedroom units (all leased)
- Year built 1925; 3 levels with a full basement
- Beautifully renovated and maintained building with recently renovated exterior
Financial Insights For Apartment 5plus
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 | $122.6k | $30.00 |
| − Vacancy | −$8.3k | −$2.04 |
| EGI | $114.2k | $27.96 |
| − OpEx | −$51.4k | −$12.58 |
| NOI | $62.8k | $15.38 |
4,086 SF · lease $30.00/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$897.6K
$785.4K – $1.05M
NOI $62,835 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$933.6K – $1.24M
NOI $74,686 @ 7.0% cap · market cap 6.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Fully leased five-unit building with two studios and three one-bedroom apartments, recently renovated exterior, newer electric and boiler.
Where is this apartment building located?
The property is located at 905 Grand Avenue Asbury Park, NJ.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 5‑unit apartment building with 2 studios and 3 one‑bedroom units (all leased); Year built 1925; 3 levels with a full basement; Beautifully renovated and maintained building with recently renovated exterior
