4 Saint James Place, Keansburg, NJ 07734
Overview
Description
Supplements: ... (Read more) The 1,524 sq ft house is situated on a spacious 5,800 sq ft lot and boasts fresh curb appeal, with a newly painted exterior, shutters, and a replanted front garden with fresh mulch. Exceptional Investment Potential: Strong Initial Cap Rate: The property delivers a solid current Net Operating Income (NOI), translating to an attractive Cap Rate based on the listing price of $579,900. Excellent Pro Forma Potential: Maximize your return by bringing the below-market rents up to current market rates. With market-rate rents in all units, the pro forma NOI is projected to significantly increase, pushing the pro forma Cap Rate to an impressive figure. Unit Details: Unit 3 (Vacant and Fully Renovated): This 2-bedroom, 1-bathroom unit is the star of the property, ready for a new tenant at a market-leading rent. It features a newly repainted interior, brand-new carpet, and an updated kitchen with a new gas range, sink, and countertop. The bathroom is completely modernized with new fixtures, mirror, toilet, and new wall and floor tiles. Unit 1 (Occupied): A 1-bedroom, 1-bathroom unit with newly installed carpet, offering a reliable income stream. Unit 2 (Occupied): A functional studio with a kitchen and bathroom that adds to the property's stable cash flow. Features to Note: Tenant-Friendly Setup: Each unit has separate electric and gas meters, simplifying management and reducing owner-related utility costs. Prime Location: Tenants will enjoy the lifestyle benefits of being just a short stroll from the beach and having easy access to nearby bus stops with routes to the city. Don't miss this opportunity to acquire a turnkey investment with immediate cash flow and compelling upside. This property's attractive financials and recent updates make it an excellent choice for a savvy buyer.
Listing Details MLS# 22530407
Contract Info
- List Price/SqFt
- 380.51
- Property Sub-Type
- Three Family
- New Construction
- No
Location
- House Number
- 4
- Street Name
- Saint James
- Street Suffix
- Place
- County
- Monmouth
- Municipality
- Keansburg (KEA)
- Postal City
- Keansburg
- State
- NJ
- Zip Code
- 07734
- Area/Section
- None
- Complex/Subdivision
- None
- Directions
- Dead end street off of Oakwood. Also off of Center.
General Property Info
- # Units in Bldg
- 3
- Full Baths
- 3
- Total Baths
- 3
- # Levels
- 2
- Apx SqFt
- 1524
- Apx Year Built
- 1928
- # Acres
- 0.13
- Lot Dimensions
- 58 x 100
- Garage
- No
- Pool
- No
- Waterfront
- No
- Waterview
- No
- Basement
- No
- # Car Garage
- 0
Tax and Legal
- Asmnt - Total
- 363600
- Deed Restricted
- No
- Taxes
- 7542
- Tax Year
- 2024
Status Change Info
- Under Contract Date
- 2025-10-16
Unit 1
- Master Bedroom Level
- Yes
- # Bedrooms
- Yes
- Bedroom Level
- Yes
- # Full Baths
- Yes
- # Rooms
- 3
- Kitchen Level
- Yes
- Living Room Level
- Yes
- Rent
- 1600
- Electric Meter
- Yes
- Gas Meter
- Yes
- Gas Stove
- Yes
- Refrigerator
- Yes
More Information
Unit 2
- # Bedrooms
- Yes
- Bedroom Level
- Yes
- # Full Baths
- Yes
- # Rooms
- 2
- Kitchen Level
- Yes
- Living Room Level
- Yes
- Rent
- 1050
- Electric Meter
- Yes
- Gas Meter
- Yes
- Gas Stove
- Yes
- Refrigerator
- Yes
- Water Meter
- Yes
- Other - See Remarks
- Yes
Unit 3
- # Bedrooms
- Yes
- Bedroom Level
- Yes
- # Full Baths
- Yes
- # Rooms
- 4
- Kitchen Level
- 2
- Living Room Level
- 2
- Rent
- 1800
- Tenant Name
- Vacant
- Electric Meter
- Yes
- Gas Meter
- Yes
- Gas Stove
- Yes
- Refrigerator
- Yes
- Water Meter
- Yes
Remarks & Misc
- Excluded
- Tenants belongings.
Income & Expenses
- Electric Expense
- 10
- Insurance Expense
- 4544
- Mgmt Fee Expense
- 0
- RE Tax Expense
- 7542
Interior
- Attic
- Yes
- Attic - Pull Down Strs
- Yes
- Locked Storage
- Yes
- Wired for Cable
- Yes
Zoning
- Multi-Family
- Yes
Showing
- Showing Time
- Yes
Lot Description
- Level
- Yes
Water/Sewer
- Public Sewer
- Yes
- Public Water
- Yes
Basement
- Crawl Space
- Yes
- Full
- Yes
Cooling
- Other
- Yes
Water Heater
- Natural Gas
- Yes
Heating
- Baseboard
- Yes
- Hot Water
- Yes
- Natural Gas
- Yes
Exterior
- Lighting
- Yes
- Patio
- Yes
- Storm Window
- Yes
Parking
- Off Street
- Yes
- Unpaved
- Yes
Garage
- None
- Yes
Assessment Status
- Assessed
- Yes
Siding
- Vinyl
- Yes
Roof
- Shingle
- Yes
Landlord Pays
- Grounds Care
- Yes
- Hot Water
- Yes
Tenant Pays
- Electricity
- Yes
- Gas
- Yes
- Heat
- Yes
Energy Features
- Energy Appliances
- Yes
- Program Thermostat
- Yes
- Storm Windows
- Yes
Property Features
