9,436 SqFt
9,436 SqFt
Key Details
Property Type Commercial
Sub Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 9,436 sqft
Price per Sqft $365
Municipality Long Branch (LON)
MLS Listing ID 22602341
Year Built 1966
Annual Tax Amount $23,508
Tax Year 2025
Lot Size 0.340 Acres
Acres 0.34
Lot Dimensions 100 x 150
Property Sub-Type Commercial
Source MOREMLS (Monmouth Ocean Regional REALTORS®)
Property Description
Converted from a convent in 2023, this fully occupied 14-unit apartment building features modern interiors, upgraded systems, strong life-safety infrastructure, and institutional-grade security—significantly reducing capital expenditure risk for the incoming owner.
With a 7.49% cap rate, low annual operating expenses, and a one-bedroom-heavy unit mix, this asset is ideally suited for buyers under 1031 timelines who require a turnkey, stabilized property with durable cash flow.
Newer conversion (2023)
Fully occupied with in-place rents
Low operating expenses
Location
State NJ
County Monmouth
Area None
Direction GSP Exit 105, 36 East, Right on Broadway, right on Morris, Right on Division, Number 380.
Rooms
Basement Slab
Interior
Cooling Electric
Exterior
Parking Features On Site, Parking Lot
Amenities Available Laundry, Common Area
Roof Type Shingle
Private Pool No
Building
Lot Description Corner Lot
Sewer Public Sewer
Water Public
New Construction Yes
Others
Senior Community No
Tax ID 27-00190-0000-00007
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