2988 1st Avenue

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2988 1st Avenue

Avalon, NJ 08202
Asking Price
Contact for price
Asset Type
Apartment Building Multifamily
Class
Class B

AI Property Summary

Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).

  • Multifamily apartment building available for sale in Avalon, New Jersey.
  • The residential property consists of two individual rental units.
  • Located at the 2988 1st Avenue address within the 08202 zip code.
  • Positioned in a coastal market with consistent demand for residential space.
  • Efficient size allows for streamlined management of the two units.

What's Special

This multifamily apartment building encompasses two units located at 2988 1st Avenue in Avalon, New Jersey. The property sits within a coastal region known for its seasonal tourism and stable local economy, positioning it as a functional asset for investors looking to expand their residential portfolio in this market. Small-scale apartment buildings of this nature provide flexible options for either long-term rental income or potential owner-occupant scenarios within the desirable Avalon submarket. Investors will find the asset situated near the main corridors of this seaside community, which benefits from consistent demand for coastal housing. The property remains well-positioned to serve tenants seeking proximity to the area's recreational amenities and local business districts. Its size allows for efficient management and straightforward operational oversight for those interested in adding a multifamily component to their current holdings.

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NOI
$80,000
Cap Rate
8.00%
DSCR
1.35
Strong
Cash-on-Cash
6.88%
Monthly Payment
$4,947.454
Annual Cash Flow
$20,630.547

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