Historical Multifamily Sale Listing - Park Lane Condominium

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Park Lane Condominium

321 Sixth Ave, Asbury Park, NJ 07712

N/A

4 Units | Multifamily

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321 sixth ave

Multifamily Property - Off Market

Price:
N/A
No. Units:
4
Building Size:
1,600 SF
Property Type:
Multifamily
Property Sub-type:
Duplex/ Triplex/ Fourplex
Additional Sub-types:
Mid/High-Rise
Property Use Type:
Investment
Cap Rate:
7.20%
Occupancy:
100%
No. Stories:
4
Year Built:
1989
Listing ID
13970941
Last Updated
over 1 year ago

Highlights

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

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.

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

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