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200 Deal Lake Drive 200 Deal Lake Dr 98 Unit Apartment Building $21,600,000 ($220,408/Unit) Asbury Park, NJ 07712
Investment Highlights
- Under market asking price at only $220K per unit
- Diverse mix of studios, one- and two-bedroom apartments including one oversized penthouse with private rooftop terrace
- Stunning Atlantic Ocean and Deal Lake views
- Significant upside through unit and interior renovations
- Premium amenities, including a fitness center, laundry room, movie theatre and a striking rooftop terrace overlooking the coastal landscape
- 1.5 miles from train station
Executive Summary
The property is an eight story residential building with 98 residential units, renovated in 2016.
Property Facts
| Price | $21,600,000 | Building Class | C |
| Price Per Unit | $220,408 | Lot Size | 0.34 AC |
| Sale Type | Investment | Building Size | 96,000 SF |
| No. Units | 98 | No. Stories | 8 |
| Property Type | Multifamily | Year Built | 2014 |
| Property Subtype | Apartment | Parking Ratio | 0.83/1,000 SF |
| Apartment Style | Mid-Rise | ||
| Zoning | MU-24 | ||
| Price | $21,600,000 |
| Price Per Unit | $220,408 |
| Sale Type | Investment |
| No. Units | 98 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 96,000 SF |
| No. Stories | 8 |
| Year Built | 2014 |
| Parking Ratio | 0.83/1,000 SF |
| Zoning | MU-24 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Tub/Shower
- Wheelchair Accessible (Rooms)
Site Amenities
- Fitness Center
- Laundry Facilities
- Waterfront
- Roof Terrace
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 21 | - | 500 - 600 |
| 1+1 | 71 | - | 600 |
| 2+1 | 6 | - | 800 |
Property Taxes
| Parcel Number | 04-04302-0000-00003 | Improvements Assessment | $13,152,500 |
| Land Assessment | $3,038,000 | Total Assessment | $16,190,500 |
Property Taxes
Parcel Number
04-04302-0000-00003
Land Assessment
$3,038,000
Improvements Assessment
$13,152,500
Total Assessment
$16,190,500
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200 Deal Lake Drive | 200 Deal Lake Dr
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