This Multifamily Property is Off-Market.

321 Sixth Ave
Asbury Park, NJ 07712 ·

4 Units · Multifamily For Sale

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Park Lane Condominium

Price N/A Property Use Type Investment
No. Units 4 Cap Rate 7.20%
Building Size 1,600 SF Occupancy 100%
Property Type Multifamily No. Stories 4
Property Sub-type
Duplex/Triplex/Fourplex
More...
  • Mid/High-Rise
Year Built 1989
Listing ID: 13970941 Date Created: 07/21/2004 Last Updated: 11/09/2004

Description

Four renovated studio condos in a four story bldg. that has a total of 25 units. The units have new kitchen cabinents, tile floors and appliances. These four units consist of a bathroom, kitchen and living area. No section 8 or rental assistance tenants. All units have separate meters for electricity which the tenants pay. All units have a/c, refrigerators and electric stoves for cooking. Tremendous upside potential. Buy all four for $365,000 or purchase individually for $105,000. Yearly condo fees for all four units total $5,817. The condo fees pay for heat, hot water, water, trash removal, snow removal, lawn maintenance, fire insurance, reserves and an onsite superintentant.

Condos in the best area of Asbury Park, NJ, only three blocks from the beach. Many old victorian homes in the immediate area. Continue to rent on a yearly basis or take advantage of the location and increase income by renting seasonally.

Highlights

  • Excellent location-Three blocks from the ocean
  • Very low maintainence
  • Near, but not in a 52 acre oceanfront redevelopment zone

Research

321 Sixth Ave, Asbury Park, NJ 07712 (Monmouth County)

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