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The Connolly Agency

302 1st Avenue, Asbury Park, NJ 07712 (MLS# 22317227)

302 1st Avenue, Asbury Park, NJ 07712

$3,299,000
Property Type: Commercial Square Footage: 11,250 Lot Size (sq. ft.): 4,792 Status: Active
Current Price: $3,299,000 List Date: 10/05/2023 Last Modified: 10/05/2023

Description

Opportunity knocks with one of the best money makers around. Once the Delmonte Hotel, but presently ran as a rooming house in an Ideal Location. Just outside of a redevelopment zone and 3 blocks to wonderful beaches and 3 blocks to hopping downtown on Cookman Ave. Prime location!!Over 11,000 sq feet with 52 rooms that are all occupied and rented at a minimum of $900/mo per room. 8 common baths and 8 rooms have private baths. New stucco siding, 2 newer boilers and HWH. Adjacent vacant 50 X 100 lot is included in the sale making the total property 100x100. Worth the effort to renovate and turn into a showcase or keep as it is and benefit from a great return on investment. Don't miss the chance to be a part of the exciting City by the Sea, Asbury Park!!

More Information MLS# 22317227

Contract Info

Status: Active List Date: 2023-10-05 Property Sub-Type: Commercial Sale: Yes Lease: No List Price: $3,299,000 Current Price: $3,299,000 List Price/SqFt: 293.24 New Construction: No

Location

House Number: 302 Street Name: 1st Street Suffix: Avenue County: Monmouth Municipality: Asbury Park (ASB) Postal City: Asbury Park State: NJ Zip Code: 07712 Area/Section: None Directions: Ocean Avenue to west on First or Grand to east on First.

General Property Info

Handicap Access: No # Levels: 4 Available SqFt: 11250 Apx SqFt: 11250 Apx Year Built: 1880 Garage: No Acreage: 0.11 Lot Dimensions: 100 x 100 Business Operating: Yes

Tax and Legal

Asmnt - Total: 1954100 Taxes: 30425 Tax Year: 2022

Income & Expenses

# Rental Units: 50

Property Features

Location: Other - See Remarks; Other - See Remarks Use: Hotel/Motel; Other Floors: Vinyl Basement: Partial; Walk-Out Access Heating: Natural Gas; Steam Water Heater: Natural Gas Water: Public Water Sewer: Public Sewer Gas: On Site Electric: Other - See Remarks Parking: On Street Construction/Siding: Stucco Roof: Flat Sale Includes: License Zoning: Residential Lot Description: Corner Lot Water Type: Oceanview Common Elements: Resident Manager Landlord Pays: Electricity; Gas; Heat; Insurance; Maintenance; Sewer; Taxes; Water; Yard Maintenance Assessment Status: Assessed Documents Available: Aerial Photo; Survey Financing: Cash
Listing Office: The Connolly Agency
Listing Agent: Joseph Baumann
Last Updated: October - 05 - 2023
302 1st Avenue, Asbury Park, NJ 07712- MLS# 22317227
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

Broker Attribution: 732-221-0865

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