NOT LISTED FOR SALE

301 Sumner Ave Unit 1,3,5,6,9,10,11,12 Seaside Heights, NJ 08751

8 Beds
8 Baths
-- Sq Ft
-- Built

Last Sold April 24, 2023

Last sale price $1,250,000

32 Days on Market

About This Home

As of April 2023

8 Units can be purchased as One. Strong Cap Rate. Collects over $121,000/Year. 6 of the 8 units renovated down to the studs: new Kitchens/baths/elec/flooring, sheetrock etc. Exterior also has New Siding, Roofing, Decking. Parking for each unit & newly paved lot. Run as a multi-family & keep the rentals or individually sell these separately deeded units off at your convenience. Being offered below market value as a package. All Separately metered, tenants pay for electric/heat. Fantastic location 3 blocks from the beach, boardwalk & rides. Walk to great restaurants & shopping. Nothing to do but start collecting your rents. Jump in on the Renaissance happening in Seaside Heights while there is still time. Pkwy Exit 82, 1 Hr from NYC, Philly/AC. More info available. Great paying tenants.

Last Listed By

Michael Loundy

Seaside Heights Realty Inc. License #8435976 Listed on: 02/12/2023

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $18,000

Home Design

  • Updated or Remodeled
  • Shingle Roof
  • Vinyl Siding

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 8 Full Bathrooms

Parking

  • 8 Parking Spaces
  • No Garage
  • Off-Street Parking
  • Assigned Parking

Utilities

  • Air Conditioning
  • Multiple cooling system units
  • Heating Available
  • Separate Meters
  • Electric Water Heater

Additional Features

  • Window Screens
  • Exterior Lighting

Listing and Financial Details

  • Exclusions: Units: 1,3,5,6,9,10,11 & 12 Lot #'s for contract are: 1.01, 1.03,1.05,1.06,1.09,1.10,1.11 and 1.12
  • Tenant pays for hot water, heat, electricity
  • The owner pays for water, sewer, association fees
  • Assessor Parcel Number 1111111111111

Community Details

Overview

  • 8 Units
  • Barnegat Sumner Condos Subdivision

Building Details

  • Insurance Expense $1,900
  • Water Sewer Expense $3,600
  • Gross Income $121,500
  • Net Operating Income $80,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$18,000

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multiple Buildings
  • ResoLotFeatures: Other, See Remarks
  • Subdivision Name: Barnegat Sumner Condos
  • General Property Info Waterview: No
  • General Property Info Basement: No
  • General Property Info Pool: No
  • WaterSewer Public Sewer: Yes
  • General Property Info Lot Dimensions: 4 Units are studio's and 4 are one bedrooms
  • Water Heater Electric2: Yes
  • Roof Shingled: Yes
  • WaterSewer Public Water: Yes
  • Exterior Lighting: Yes
  • Garage None4: Yes
  • Cooling Multi Units: Yes
  • General Property Info # Parking Spaces: 8.0
  • Unit 1 AC Unit: Yes
  • Unit 1 Electric Meter: Yes
  • Unit 2 AC Unit2: Yes
  • Unit 2 Electric Meter2: Yes
  • Income Expenses Insurance Expense: 1900.0
  • Income Expenses WaterSewer Expense: 3600.0
  • Income Expenses Gross Income2: 121500.0
  • Income Expenses Net Income: 80000.0
  • Exterior Screens2: Yes
  • Unit 3 AC Unit3: Yes
  • Unit 4 AC Unit10: Yes
  • Special Features: None

Interior Features

  • Basement: Other
  • Basement: No
  • Full Bathrooms: 8
  • Total Bedrooms: 8
  • BasementOther: Yes

Exterior Features

  • Roof: Shingle
  • Waterfront: No
  • Exclusions: Units: 1,3,5,6,9,10,11 & 12 Lot #'s for contract are: 1.01, 1.03,1.05,1.06,1.09,1.10,1.11 and 1.12
  • Exterior Features: Screens, Lighting
  • Construction:Siding - Vinyl: Yes

Garage/Parking

  • Garage: No
  • Attached Garage: No
  • Parking Features: Off Street, None, Assigned
  • Total Parking Spaces: 8.0
  • General Property Info:Garage: No
  • ParkingOffStreet: Yes
  • Parking:Assigned2: Yes

Utilities

  • Sewer: Public Sewer
  • Cooling: Multi Units
  • Cooling Y N: Yes
  • Water Source: Public
  • Heating:Electric: Yes

Fee Information

  • Annual Water Sewer Expense: 3600.0

Lot Info

  • Lot Dimensions: 4 Units are studio's and 4 are one bedrooms
  • Parcel #: 1111111111111
  • Zoning Description: Residential

Rental Info

  • Tenant Pays: Hot Water, Heat, Electricity
  • Owner Pays: Water, Sewer, Association Fees

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 18000.0

Multi Family

  • Number Of Units Total: 8
  • Annual Gross Income: 121500.0
  • Insurance Expense: 1900.0

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/24/2023 04/24/23 Sold $1,250,000 -16.7% --
02/12/2023 02/12/23 For Sale $1,499,900 -- --
Source: MOREMLS (Monmouth Ocean Regional REALTORS®)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Michael Loundy

    Seller's Agent in 2023

    Michael Loundy

    Seaside Heights Realty Inc.

    (732) 330-6651

    274 Total Sales

    Michael Loundy
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Map

Source: MOREMLS (Monmouth Ocean Regional REALTORS®)

MLS Number: 22303862

MOREMLS (Monmouth Ocean Regional REALTORS®)

New Jersey Ocean County Seaside Heights 08751

301 Sumner Ave Unit 1,3,5,6,9,10,11,12, Seaside Heights, NJ

Homes for Sale in Seaside Heights, NJ

This home is located at 301 Sumner Ave Unit 1,3,5,6,9,10,11,12, Seaside Heights, NJ 08751 since 12 February 2023. 301 Sumner Ave Unit 1,3,5,6,9,10,11,12 is a home located in Ocean County with nearby schools including Hugh J. Boyd Jr. Elementary School, Central Regional Middle School, and Central Regional High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MOREMLS (Monmouth Ocean Regional REALTORS®) IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.

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