15 Laurel Ave - THE BELVEDERE ROOMING HOUSE
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15 Laurel Ave - THE BELVEDERE ROOMING HOUSE
15,700 SF Specialty Building Offered at $3,750,000 at a 12% Cap Rate in Keansburg, NJ 07734
Investment Highlights
- Money Making Property. Rare Licensed Rooming House w/51 Single Occupancy Rms and 6 One Bed Apts . Clean, updated. Passed all recent state inspections
Executive Summary
The Belvedere Rooming House.
Rare opportunity to invest in this Established Business of owning a fully licensed Rooming House in N.J. The owner has transformed this establishment into a 95-100% occupancy home for adults that need a weekly or monthly lease with many staying long term. 51 single occupancy rooms and six one bedroom apartments bring in a steady flow of income, while affording it's occupants a rent well below market rates. The Belvedere in Keansburg prides itself on a clean, well kept, establishment. Located within 2 blocks to the Keansburg waterfront and the Baypoint Redevelopment area with the millions of dollar transformation happening now. It's the perfect time to invest in this opportunity. Consists of BUILDINGS, LAND & BUSINESS. Operating Licenses Included. Owner will train buyer. Wired for high speed internet throughout with cameras covering common areas. Passed all recent State Inspections. Owner keeps building immaculate. Office with full apartment attached for staff. Property is located in a flood zone. Owner does not have flood insurance as property did not flood during Storm Sandy. Crawl space under building. Owner just had 50 yr roof installed with all decking replaced April 2024 on the 3 story building.
Rare opportunity to invest in this Established Business of owning a fully licensed Rooming House in N.J. The owner has transformed this establishment into a 95-100% occupancy home for adults that need a weekly or monthly lease with many staying long term. 51 single occupancy rooms and six one bedroom apartments bring in a steady flow of income, while affording it's occupants a rent well below market rates. The Belvedere in Keansburg prides itself on a clean, well kept, establishment. Located within 2 blocks to the Keansburg waterfront and the Baypoint Redevelopment area with the millions of dollar transformation happening now. It's the perfect time to invest in this opportunity. Consists of BUILDINGS, LAND & BUSINESS. Operating Licenses Included. Owner will train buyer. Wired for high speed internet throughout with cameras covering common areas. Passed all recent State Inspections. Owner keeps building immaculate. Office with full apartment attached for staff. Property is located in a flood zone. Owner does not have flood insurance as property did not flood during Storm Sandy. Crawl space under building. Owner just had 50 yr roof installed with all decking replaced April 2024 on the 3 story building.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,750,000 | Lot Size | 0.29 AC |
| Price Per SF | $239 | Building Size | 15,700 SF |
| Sale Type | Investment | No. Stories | 3 |
| Cap Rate | 12% | Year Built/Renovated | 1920/2024 |
| Property Type | Specialty | Corridor | Interior |
| Building Class | C |
| Price | $3,750,000 |
| Price Per SF | $239 |
| Sale Type | Investment |
| Cap Rate | 12% |
| Property Type | Specialty |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 15,700 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1920/2024 |
| Corridor | Interior |
Amenities
- Bus Line
- Signage
- Fiber Optic Internet
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PROPERTY TAXES
| Parcel Number | 23-00001-0000-00005 | Improvements Assessment | $985,500 |
| Land Assessment | $429,100 | Total Assessment | $1,414,600 |
PROPERTY TAXES
Parcel Number
23-00001-0000-00005
Land Assessment
$429,100
Improvements Assessment
$985,500
Total Assessment
$1,414,600
zoning
| Zoning Code | C-0 (RARE Licensed Rooming House with 100% occupancy. Two Buildings w/ 51 Single Rooms & 6 One Bed. Apartments. Class C license. Building Land & Business) |
| C-0 (RARE Licensed Rooming House with 100% occupancy. Two Buildings w/ 51 Single Rooms & 6 One Bed. Apartments. Class C license. Building Land & Business) |
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15 Laurel Ave - THE BELVEDERE ROOMING HOUSE
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