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704-720 Mattison Ave 48 Unit Apartment Building $5,000,000 ($104,167/Unit) Asbury Park, NJ 07712
EXECUTIVE SUMMARY
PERFECT OPPORTUNITY ZONE INVESTMENT: This downtown building is already approved for 48 Microunit apartments. The building consists of a development site for the microunit apartments and one of the last remaining historic theaters in Asbury Park, The Savoy Theater. The Savoy opened as a live entertainment venue, a Vaudeville and tour house where Loise Brooks, Milton Berle, and James Cagney have performed. It was designed by Casino architect William Cottrell. Seller will also sell property across the street in order to meet development parking needs, as well as a liquor license for restaurant use. Please contact agents for more information.
PROPERTY FACTS
| Price | $5,000,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $104,167 | Building Class | C |
| Sale Type | Investment or Owner User | Lot Size | 0.30 AC |
| Sale Condition | Redevelopment Project | Building Size | 61,865 SF |
| No. Units | 48 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 1911 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | CBD Mixed Use - Central Business District | ||
| Price | $5,000,000 |
| Price Per Unit | $104,167 |
| Sale Type | Investment or Owner User |
| Sale Condition | Redevelopment Project |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 61,865 SF |
| No. Stories | 5 |
| Year Built | 1911 |
| Opportunity Zone |
Yes |
| Zoning | CBD Mixed Use - Central Business District |
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Walk Score®
Walker's Paradise (97)
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 04-02402-0000-00003 | Improvements Assessment | $2,167,500 |
| Land Assessment | $919,400 | Total Assessment | $3,086,900 |
PROPERTY TAXES
Parcel Number
04-02402-0000-00003
Land Assessment
$919,400
Improvements Assessment
$2,167,500
Total Assessment
$3,086,900
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704-720 Mattison Ave
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