NJ
Monmouth
Keansburg
07734
4 Saint James Place
4 Saint James Place, Keansburg, NJ 07734
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Listing Type
Multi Family
Listing Status
pending
27
$579,900

Home Details for 4 Saint James Place

Price
$579,900
Type
Residential Income
Bedrooms
4
Bathrooms
3.0
Square feet
NaN
Year built
1928
Lot size acres
0.13
County
Monmouth
Garage
Basement
Crawl Space, Full
Days on site
19
MLS Listing#
22530407
Property Description

THERE ARE MULTIPLE OFFERS AND WE ARE NOW CALLING FOR HIGHEST AND BEST BY TUESDAY AT 10PM. TURNKEY MULTI-FAMILY INVESTMENT IN KEANSBURG: FREE PRESCHOOL, EXCELLENT CAP RATE, AND STRONG PRO FORMA POTENTIAL. WALK TO THE BEACH FROM THIS UPDATED 3-FAMILY WITH VACANT UNIT, PRICED AT $579,900! A perfect opportunity for investors and owner-occupants, this well-maintained 3-family home is located just a few blocks from the beach in ascending Keansburg. Featuring immediate cash flow and substantial future income growth potential, this property is a must-see. The added perk of free preschool for Keansburg residents makes this an even more attractive location for families, expanding your pool of prospective tenants or buyers. 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.

Property Features
  • Parking
    • Off Street
    • None
    • Unpaved
  • Basement
    • Crawl Space
    • Full
  • Cooling Information
    • Other
  • Heating Information
    • Baseboard
  • Water Features
    • Public
Listing Courtesy: EXP Realty - 732-933-0200
Presented by: Kevin Quinn
The data relating to real estate for sale on this website comes in part from the Internet Data exchange ("IDX") program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than EXIT Realty, are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright ©2025 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.
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Market statistics compiled from data from Monmouth/Ocean Multiple Listing Service.
EXIT BLUE WATER REALTY
943 Highway 34, Matawan, NJ 07747
Office
732 696 8088
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