Renovated 5-Unit Apartment
For Sale
$1,100,000
905 Grand Ave, Asbury Park, NJ 07712
Fully leased property with two studios and three one-bedroom apartments.
Property Size4,086 SF
Price / SF$269.21
Days on Market90
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Property Features for 905 Grand Ave
General Information
Standard status
Active
Size
4,086 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x studio, 3 x 1-BR
Multifamily Units
5
Building Details
Year Built
1925
Buildings
1
Listing Agency:
Sackman Realty
Listed By:
Patrick Schiavino · License #0454705
(732) 798-8188
Source:
Goldstandardrealty
Added: Jul 18
Changed: Oct 11
Last Checked: Oct 7 at 1:52PM
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 4,086-square-foot apartment building contains five units, including 2 studios and 3 one-bedroom apartments. The property was built in 1925 and has undergone recent exterior renovation, with newer electrical service and a newer boiler. All units are leased.
Located at 905 Grand Ave in Asbury Park, New Jersey, the building offers an established multifamily configuration with a defined unit mix and existing occupancy. The combination of recent exterior work and updated core building systems adds useful operational context for evaluating the property.
Located at 905 Grand Ave in Asbury Park, New Jersey, the building offers an established multifamily configuration with a defined unit mix and existing occupancy. The combination of recent exterior work and updated core building systems adds useful operational context for evaluating the property.
Key Highlights
- Five‑unit apartment building with 2 studios and 3 1‑BR units
- 4,086 SF multifamily building
- All units leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,835
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,256,700
$1.3M
Cap Rate 7%
$897,643
$897.6K
Cap Rate 9%
$698,167
$698.2K
Market Conditions
NOI Build-Up for 4,086 SF
Gross rent
$122.6K $30.00/SF
− Vacancy
−$8.3K −$2.04/SF
EGI
$114.2K $27.96/SF
− OpEx
−$51.4K −$12.58/SF
NOI
$62.8K $15.38/SF
Area
Monmouth 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%
$1,256,700
Cap Rate 7%
$897,643
Cap Rate 9%
$698,167
Alternative Uses
Best Use
Apartment 5plus
$897.6K
$785.4K – $1.05M
NOI $62,835 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$933.6K – $1.24M
NOI $74,686 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,105
Businesses Nearby
Explore this area
Business Placement
Demographics for 07712, NJ
39,397
Population
19,321
Households
2
Avg Household Size
42
Median Age
49%
College-Educated
93%
High-School Grad
12.2 sq mi
ZIP Area
3,229
Density / Sq Mi
$95,691
Median Household Income
$51,924
Median Earnings
$1,496
Median Rent
$578,300
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?
Apartment building - Fully leased property with two studios and three one-bedroom apartments.
Where is this apartment building located?
The property is located at 905 Grand Ave Asbury Park, NJ.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Five‑unit apartment building with 2 studios and 3 1‑BR units; 4,086 SF multifamily building; All units leased
