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Key Details
Sold Price $566,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 2,460 sqft
Price per Sqft $230
Subdivision Seaside Heights
MLS Listing ID NJOC172936
Sold Date 05/23/17
HOA Y/N N
Originating Board JSMLS
Year Built 1950
Annual Tax Amount $9,467
Tax Year 2016
Lot Dimensions 50x100
Property Description
Well maintained Multi-Family Apartments at 225 Lincoln Ave, Seaside Heights. The front building 223 Lincoln Ave has 5 units and the back building 225 Lincoln Ave has 2 units. The two combined buildings offer 6 rented Apartments & 1 Studio. The studio requires some work prior to acquiring CO and will add additional income. With 6 rented units the Cap Rate is 12%. Tenants have 1 year leases and the property has a strong income history. There is (1) 1 Bedroom, (4) 2 Bedrooms, (1) 3 Bedroom and a Studio. This property is conveniently located in Seaside Heights and minutes to the beach and amusements. Income and expense information available upon request. Call today for more information.
Location
State NJ
County Ocean
Area Seaside Heights Boro (21527)
Zoning MULTI-FAMI
Interior
Interior Features Floor Plan - Open
Flooring Vinyl, Fully Carpeted
Equipment Oven/Range - Gas, Refrigerator, Stove
Fireplace N
Appliance Oven/Range - Gas, Refrigerator, Stove
Exterior
Waterfront N
Water Access N
Roof Type Shingle
Accessibility None
Building
Lot Description Level
Foundation Crawl Space, Slab
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Central Regional Schools
Others
Tax ID 27-00018-0000-00023
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Bought with Kenneth M Grosso • RE/MAX New Beginnings Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "