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Key Details
Sold Price $575,000
Property Type Multi-Family
Sub Type 4 Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 220018273
Sold Date 12/16/22
Bedrooms 4
Full Baths 4
Annual Tax Amount $5,130
Tax Year 2021
Lot Dimensions 25X100
Property Sub-Type 4 Family
Property Description
Welcome to Iconic Seaside Heights. Investment opportunity to be part of the future growth of Seaside Heights. 2 properties being offered with favorable Cap Rate as a package deal - 314 and 316 Sumner Ave.***8 units, 6 parking spaces***6 units occupied with year round tenants**Updated Units**Many improvements including structural, plumbing, electrical, heating - see documents. 2 Buildings at 314 Sumner - 4 units: 3 two Bedroom, 1 one Bedroom. 2 occupied paying under market rent. Back structure fully renovated, raised 2013 providing large storage area with plumbing, electric, gas. With projected adjustment for rent of vacant apartments - Rent $69,120, Expenses $12,661, NOI $56,459.**Building at 316 Sumner - 4 studio units, all occupied. Rent $58,800 Expenses $14,383 NOI $44,417.
Location
State NJ
County Ocean
Area Seaside Heights Boro
Rooms
Basement None
Interior
Heating Baseboard, Gas, Hot Water
Cooling Baseboard, Gas, Hot Water
Exterior
Exterior Feature Block
Parking Features 3+ Cars
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Nest Scout Group By Real
Agent | License ID: 1643363 & 1754769
Agent License ID: 1643363 & 1754769