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Drum Point Arms 407 Brick Blvd 126 Unit Apartment Building $32,500,000 ($257,937/Unit) Brick, NJ 08723
Investment Highlights
- First time on the market in 50 years
- Approximately 20% of the units have been renovated
- Hardwood floors
- Value-add opportunity
- No rent control
- Property owned laundry facilities with video monitoring
Executive Summary
Drum Point Arms consists of 6, two-story residential buildings with 126 units. The property is conveniently located near the Garden State Parkway and Route 9. Drum Point Arms is also walking distance to schools and nearby shopping.
Property Facts
| Price | $32,500,000 | Building Class | C |
| Price Per Unit | $257,937 | Lot Size | 6.86 AC |
| Sale Type | Investment | Building Size | 122,630 SF |
| No. Units | 126 | Average Occupancy | 98% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1981 |
| Apartment Style | Garden | Parking Ratio | 2.45/1,000 SF |
| Zoning | RM | ||
| Price | $32,500,000 |
| Price Per Unit | $257,937 |
| Sale Type | Investment |
| No. Units | 126 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 6.86 AC |
| Building Size | 122,630 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1981 |
| Parking Ratio | 2.45/1,000 SF |
| Zoning | RM |
Amenities
Unit Amenities
- Air Conditioning
- Eat-in Kitchen
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 40 | - | 300 - 400 |
| 1+1 | 43 | - | 500 - 800 |
| 2+1 | 43 | - | 1,000 |
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Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 07-00547-0000-00013 | Improvements Assessment | $4,993,500 |
| Land Assessment | $2,742,000 | Total Assessment | $7,735,500 |
Property Taxes
Parcel Number
07-00547-0000-00013
Land Assessment
$2,742,000
Improvements Assessment
$4,993,500
Total Assessment
$7,735,500
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Drum Point Arms | 407 Brick Blvd
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