Multi-Family•Low-Rise/Garden•For Sale

Seaside Heights portfolio

321 Grant Ave 325 Blaine Ave, , Seaside Heights, New Jersey 08751

Sale Price $1,250,000
Zoning RES
Bldg Type Multi-Tenant
Year Built 1940
Year Renovated 2018
Stories 2
Vacancy 100%
Gross Bldg 7,418 SqFt
Project Size 10
100% Occupied 10-unit portfolio with annual tenants. Consists of 2 addresses located 1 block apart: 1.: 325 Blaine Ave, Seaside Heights, NJ 08757 -Consists of a ranch-style front building with two 2-bedroom units and a 2-story rear building with two 2-bedroom units. 2.: 321 Grant Ave, Seaside Heights, NJ 08757 -Consists of a 2-story front building with two 4-bedroom units and a 2-story rear building with four 2-bedroom units All tenants pay their gas and electric, some pay water and sewer. Owner recently installed separate water meters at 1 property the other had separate meters already. Recent improvements include: new siding, windows, electrical and plumbing upgrades, new hot water heaters, and heating systems, new gas lines, deck, and steps reinforcements and added new common laundry room ready for machines. 2 multifamily properties located 1 block apart. The immediate area is primarily Single Family and Multi-Family Residential. Close proximity to the beach, shopping and entertainment, and route 35 and 37.
  • 9% Cap Rate
  • Turn-key
  • 100% occupied
  • upside potential
8/14/2019 10:39:38 AM 8/14/2019 4:10:13 PM
Jana Haloda
Commercial Associate
KW Commercial

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