Asking Price: $1,250,000
Building Size: 7,418 SQ FT
Cost per Square Foot: $168.51
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.
Key Points: 9% Cap Rate Turn-key 100% occupied upside potential