135 Blaine Ave – Seaside Heights Pending

  • $790,000
  • 12 beds
  • 8 baths
  • 5,843 sqft

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Turnkey Multi-Family Wholesale Investment Property 

All Properties are normally sold within 14 days from the date listed. Please check the status of the unit with us before beginning research on properties older than 14 days.

This property information is Strictly for Real Estate Acquisitions Co. Investors and associates only.

This property is available for purchase only with Cash, Hard Money, or Private Money.

135 BLAINE AVE SEASIDE HEIGHTS NJ 08751

8 Apartments in total with 12 bedrooms; 8 bathrooms in the whole apartment building.

Units Breakdown:
Apt 19 – 1 Bed, 1 Bath Bungalow: $1,100 per month
Apt 20 – 2 Bed, 1 Bath – $1,200 per month
Apt 21 – 1 Bed, 1 Bath – $1,100 per month
Apt 23 – 2 Bedroom, 1 Bath – $1,200 per month
Apt 24 – 1 Bedroom, 1 Bath – $1,200 per month
Apt 25 – 2 Bedroom, 1 Bath – $1,300 per month
Apt 26 – 2 Bedroom, 1 Bath – $1,200 per month
Apt 30 – 1 Bedroom, 1 Bath – $1,100 per month

All tenants are current on their leases and have been long term tenants.

Purchase/Rent

Wholesale Price: $790,000
Renovation Cost: $30,000 in renovations is included in our financial model, but there are no critical renovations immediately necessary.
After Repair Value: $923,769 based on MLS comps
Yearly Net Cash Flow: $71,581 
Cap Rate: 8.57% 

Property Information
Building Type: Apartment Building
Bedroom: 12
Bath: 8
Real Estate Tax: $11,734
Vacant: No
Owner Occupied: Non-Owner Occupied

Construction Details:
Facade and Exterior: Vinyl Siding
Roof: Shingles – Left side replaced in 2020, Right side replaced 8 years ago.
Electric: Breakers
Heating: Gas – Furnace replaced 7 years ago
Plumbing: Copper
Laundry: N/A
Public Water: Yes
Public Sewer: Yes
Zoning: Residential

Comparables from the MLS used to determine ARV

Address Price Sold Sold Date Size (sf) Year Built Price per sf Distance from
subject
property (mi)
2 8th Ave
Seaside Heights, NJ
(Two Family Property)
975,000 7/30/2020 3330 1950 292.79 1
60 Carteret Ave
Seaside Heights, NJ
(6 Unit Multi-Family)
625,000 7/22/2020 2604 1940 240.00 0.5
321 Grant Ave
Seaside Heights, NJ
(8 bed – Muli Family)
720,000 1/9/2020 4446 1940 161.50 0.2
Average Cost/SQFT: $231.43
Average Sold Price: $773,333
After Repair Value: $923,769

 

Rental Analysis

 

Price:
$790,000
Address:
135 Blaine Ave
Seaside Heights, NJ 08751
Square Feet:
5,843
Lot Size:
3,999
Bedrooms:
12
Bathrooms:
8
Terms:
Assignment of Contract
Property Type:
Multi-family
Year Built:
1950

Call (609) 807-1497 for more details

Property Location