135 Blaine Ave – Seaside Heights Assigned

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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

Rental Analysis