$500,000
SOLD AUG 13, 2021

240 Sherman Ave Seaside Heights, NJ 08751

4 Beds
3 Baths
-- Sq Ft
2,614 Sq Ft Lot

Recently Sold

19 Days on Market

Highlights

  • Air Conditioning
  • Tankless Water Heater
  • Fenced
  • Home Security System
  • Forced Air Heating System
  • 1-Story Property

About This Home

As of July 2023

This completely renovated 3-family property is an investor's dream! The front unit offers two 1-bedroom, 1-bath apartments, and the rear structure has two bedrooms and one full bath. All units have brand new vinyl flooring, white shaker cabinets, appliances, tankless water heaters, energy efficient split air/heating units, recessed lighting, ceiling fans, stand up shower enclosures, vanities, and more! All units are rented year-round with $50K in rent annually. Coin-operated washer and dryer on the premises with storage for each unit plus 1 year Home Warranty. Just two blocks from the beach and boardwalk, enjoy the street views of the illuminated ferris wheel. All the best of the Jersey Shore!

Last Agent to Sell the Property

Diana Pellegrino

ERA Central Realty Group Listed on: 06/17/2021

Co-Listed By

Michael Pellegrino

ERA Central Realty Group License #2183251

Last Buyer's Agent

Alyson Scudiero

Van Dyk Group License #1753403

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,951

Year Built

  • Built in 1946

Lot Details

  • 2,614 Sq Ft Lot
  • Lot Dimensions are 25 x 100
  • Fenced

Home Design

  • Triplex
  • Shingle Roof
  • Vinyl Siding

Interior Spaces

  • 1-Story Property
  • Window Screens
  • Insulated Doors
  • Crawl Space
  • Home Security System
  • Stove

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 3 Full Bathrooms

Laundry

  • Dryer
  • Washer

Outdoor Features

  • Exterior Lighting

Utilities

  • Air Conditioning
  • Forced Air Heating System
  • Furnace
  • Separate Meters
  • Tankless Water Heater

Community Details

  • 3 Units

Listing and Financial Details

  • Exclusions: Tenants personal posessions
  • The owner pays for water, sewer
  • Assessor Parcel Number 27-00053-0000-00019

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,951

Year Built

Built in 1946

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Three Family
  • Co List Office Mls Id: 198
  • Co List Office Phone: 732-462-8600
  • Subdivision Name: None
  • New Construction: No
  • Year Built: 1946
  • Contract Info New Construction: No
  • General Property Info Waterview: No
  • General Property Info Fireplace: No
  • General Property Info Basement: No
  • General Property Info Pool: No
  • WaterSewer Public Sewer: Yes
  • General Property Info Lot Dimensions: 25 x 100
  • ExteriorFence: Yes
  • Roof Shingled: Yes
  • WaterSewer Public Water: Yes
  • Exterior Lighting: Yes
  • General Property Info Handicap Access: No
  • Unit 1 AC Unit: Yes
  • Unit 1 Electric Meter: Yes
  • Unit 1 Gas Meter3: Yes
  • Unit 1 Washer2: Yes
  • Unit 1 Water Heater: Yes
  • Unit 2 AC Unit2: Yes
  • Unit 2 Dryer3: Yes
  • Unit 2 Electric Meter2: Yes
  • Unit 2 Washer3: Yes
  • Unit 2 Water Heater2: Yes
  • Unit 1 Dryer2: Yes
  • Exterior Security System5: Yes
  • Unit 1 Gas Stove: Yes
  • Unit 3 Furnace3: Yes
  • Unit 3 Gas Stove3: Yes
  • Exterior Screens2: Yes
  • Unit 2 Gas Stove2: Yes
  • Unit 3 Water Heater3: Yes
  • Unit 3 Dryer4: Yes
  • Unit 3 Washer4: Yes
  • Exterior Insulated Doors2: Yes
  • Special Features: None

Interior Features

  • Basement: Crawl Space
  • Basement: No
  • Full Bathrooms: 3
  • Total Bedrooms: 4
  • Stories: 1
  • Basement:Crawl Space: Yes
  • Appliances:Water Heater - Tankless: Yes

Exterior Features

  • Roof: Shingle
  • Acres: 0.06
  • Waterfront: No
  • Exclusions: Tenants personal posessions
  • Exterior Features: Fence, Insulated Doors, Screens, Security System, Lighting
  • Construction:Siding - Vinyl: Yes

Garage/Parking

  • Garage: No
  • General Property Info:Garage: No

Utilities

  • Sewer: Public Sewer
  • Cooling: Other
  • Cooling Y N: Yes
  • Heating: Forced Air, Other, See Remarks
  • HeatingYN: Yes
  • Water Source: Public
  • Heating:Forced Air: Yes

Lot Info

  • Lot Dimensions: 25 x 100
  • Lot Size Sq Ft: 2613.6
  • ResoLotSizeUnits: Acres
  • Parcel #: 27-00053-0000-00019
  • ResoLotSizeUnits: Acres

Rental Info

  • Tenant Pays: See Remarks
  • Owner Pays: See Remarks, Water, Sewer

Tax Info

  • Tax Year: 2020
  • Tax Annual Amount: 4951.0
  • Tax Other Annual Assessment Amount: 203900.0

Multi Family

  • Number Of Units Total: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 14, 2023
Closed on
Jul 31, 2023
Sold by
240 Sherman Estate Llc
Bought by
Mallampati Murali and Yejella Rajani
Seller's Agent
Alyson Scudiero
Van Dyk Group
Buyer's Agent
dawn geraldi
Keller Williams Realty Ocean Living
List Price
$660,000
Sold Price
$650,000
Premium/Discount to List
-$10,000
-1.52%
Views
82
Current Estimated Value
$655,555

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$5,555
Avg. Annual Appreciation
0.39%
Original Mortgage
$455,000
Outstanding Balance
$449,971
Interest Rate
6.71%
Mortgage Type
New Conventional
Estimated Equity
$205,584

Purchase Details

Listed on
Jun 17, 2021
Closed on
Aug 25, 2021
Sold by
Ramkissoon Nandanie
Bought by
240 Sherman Llc
Seller's Agent
Diana Pellegrino
ERA Central Realty Group
Buyer's Agent
Alyson Scudiero
Van Dyk Group
List Price
$500,000
Sold Price
$500,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
14.32%
Original Mortgage
$375,000
Interest Rate
2.9%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jun 17, 2021
Closed on
Aug 13, 2021
Sold by
240 Sherman Properties Llc
Bought by
Ramkissoon Nandanie
Seller's Agent
Diana Pellegrino
ERA Central Realty Group
Buyer's Agent
Alyson Scudiero
Van Dyk Group
List Price
$500,000
Sold Price
$500,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$375,000
Interest Rate
2.9%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jun 17, 2021
Closed on
Aug 11, 2021
Sold by
240 Sherman Properties Llc
Bought by
Ramkissoon Nandanie
Seller's Agent
Diana Pellegrino
ERA Central Realty Group
Buyer's Agent
Alyson Scudiero
Van Dyk Group
List Price
$500,000
Sold Price
$500,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$375,000
Interest Rate
2.9%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 8, 2019
Sold by
Cece Lori A and Cassano Rocco
Bought by
240 Sherman Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$87,000
Interest Rate
3.73%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Deed $650,000 Allstate Title
Deed -- Elite Title Group Llc
Deed $500,000 Elite Title Group
Deed $500,000 Elite Title Group Llc
Deed $100,000 River Edge Title Agency
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $455,000 New Conventional
Previous Owner $375,000 New Conventional
Previous Owner $375,000 New Conventional
Previous Owner $87,000 Commercial
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/31/2023 07/31/23 Sold $650,000 -1.5% --
06/23/2023 06/23/23 Pending -- -- --
06/13/2023 06/13/23 For Sale $660,000 +32.0% --
08/13/2021 08/13/21 Sold $500,000 0.0% --
07/06/2021 07/06/21 Pending -- -- --
06/17/2021 06/17/21 For Sale $500,000 -- --
Source: MOREMLS (Monmouth Ocean Regional REALTORS®)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $6,918 $666,900 $387,500 $279,400
2024 $6,420 $244,100 $100,000 $144,100
2023 $6,105 $244,100 $100,000 $144,100
2022 $6,105 $244,100 $100,000 $144,100
2021 $5,907 $244,100 $100,000 $144,100
2020 $4,951 $203,900 $100,000 $103,900
2019 $4,802 $203,900 $100,000 $103,900
2018 $4,675 $203,900 $100,000 $103,900
2017 $4,588 $203,900 $100,000 $103,900
2016 $4,510 $203,900 $100,000 $103,900
2015 $4,353 $203,900 $100,000 $103,900
2014 $3,986 $203,900 $100,000 $103,900
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MOREMLS (Monmouth Ocean Regional REALTORS®)

MLS Number: 22119429

MOREMLS (Monmouth Ocean Regional REALTORS®)

APN: 27-00053-0000-00019