380 Division Street, Long Branch, NJ 07740
sale
$3,450,000
|
Other
Courtesy Of eXp Realty, LLC
380 Division Street represents a compelling 1031 exchange replacement opportunity for investors seeking immediate, stable income, minimal management burden, and long-term appreciation in a coastal New Jersey market. Converted from a convent in 2023, this fully occupied 14-unit apartment building features modern interiors, upgraded systems, strong life-safety infrastructure, and institutional-grade security-significantly reducing capital expenditure risk for the incoming owner. With a 7.49% cap rate, low annual operating expenses, and a one-bedroom-heavy unit mix, this asset is ideally suited for buyers under 1031 timelines who require a turnkey, stabilized property with durable cash flow. Newer conversion (2023) Fully occupied with in-place rents Low operating expenses
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Property Features
- Age: Over 50 Years Old
- Cooling System: Electric
- Exterior Type: Brick
- Exterior Type: Concrete
- Floors: 2
- MLSID: 22602341
- Parking Spaces: 8
- Roof Type: Shingle
- Rooms: Basement
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