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Key Grove Farms 45 Beers St 24 Unit Apartment Building $8,750,000 ($364,583/Unit) Keyport, NJ 07735
Investment Highlights
- New construction (2017) asset offering institutional-quality construction and low-maintenance ownership.
- Oversized one- and two-bedroom layouts commanding premium rents
- Modern finishes including updated kitchens, stainless appliances, and in-unit laundry enhancing tenant retention
- Proven mark-to-market opportunity with significant rental growth potential in NO RENT CONTROL market
- Tenants pay utilities, creating a favorable and predictable expense structure
- Other amenities include garage and surface parking and units with balconies or decks
Executive Summary
Key Grove Farms is a two-story luxury apartment complex built in 2017 with 24 residential units and on-site parking.
Property Facts
| Price | $8,750,000 | Building Class | B |
| Price Per Unit | $364,583 | Lot Size | 0.88 AC |
| Sale Type | Investment | Building Size | 25,000 SF |
| No. Units | 24 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2017 |
| Apartment Style | Low-Rise | Parking Ratio | 2.08/1,000 SF |
| Zoning | RC | ||
| Price | $8,750,000 |
| Price Per Unit | $364,583 |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.88 AC |
| Building Size | 25,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2017 |
| Parking Ratio | 2.08/1,000 SF |
| Zoning | RC |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Tile Floors
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Hardwood Floors
- Vaulted Ceiling
- High Speed Internet Access
- Sprinkler System
- Stainless Steel Appliances
- Tub/Shower
- Views
- Double Pane Windows
- Intercom
- Island Kitchen
- Linen Closet
Site Amenities
- 24 Hour Access
- Controlled Access
- Property Manager on Site
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 1,010 |
| 2+1 | 20 | - | 1,010 |
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 24-00039-0000-00012-01 | Improvements Assessment | $5,375,000 |
| Land Assessment | $525,000 | Total Assessment | $5,900,000 |
Property Taxes
Parcel Number
24-00039-0000-00012-01
Land Assessment
$525,000
Improvements Assessment
$5,375,000
Total Assessment
$5,900,000
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Key Grove Farms | 45 Beers St
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