$625,000
$625,000
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928 SqFt
SOLD DATE : 12/16/2022
Key Details
Sold Price $625,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 928 sqft
Price per Sqft $673
Municipality Seaside Heights (SEH)
MLS Listing ID 22231319
Sold Date 12/16/22
Originating Board Monmouth Ocean Regional Multiple Listing Service
Year Built 1940
Annual Tax Amount $5,072
Tax Year 2021
Lot Size 2,613 Sqft
Acres 0.06
Lot Dimensions 25 x 100
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
Direction 37 to Seaside Heights, to Sumner Ave, Properties on left
Rooms
Basement Other
Interior
Heating Baseboard, Hot Water
Flooring Other
Exterior
Exterior Feature Security System, Lighting
Parking Features Off Site
Roof Type Shingle
Private Pool No
Building
Sewer Public Sewer
Water Public
Structure Type Security System, Lighting
Others
Senior Community No
Tax ID 27-00031-0000-00014
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