$3,950,000
Long Branch, NJ 07740
MLS# 22602341
9436 sqft
1 / 16
Property Description
380 Division Street represents a compelling 1031 exchange replacement opportunity for investors seeking immediate, stable income, minimal management burden, and long-term appreciation in a coastal New Jersey market. Converted from a convent in 2023, this fully occupied 14-unit apartment building features modern interiors, upgraded systems, strong life-safety infrastructure, and institutional-grade security-significantly reducing capital expenditure risk for the new owner. With a low annual operating expenses, and a one-bedroom-heavy unit mix, this asset is ideally suited for buyers under 1031 timelines who require a turnkey, stabilized property with durable cash flow. Newer conversion (2023) Fully occupied with in-place rents Low operating exp
Details
Maps
Contract Info
Sale: Yes
Lease: No
List Price/SqFt: 418.61
New Construction: R
Status: Active
List Date: 2026-01-26
Property Sub-Type: Commercial
List Price: $3,950,000
Current Price: $3,950,000
Location
Area/Section: None
Near Busstop: 1
Near Rrtrans: 1
House Number: 380
Street Name: Division
Street Suffix: Street
County: Monmouth
Municipality: Long Branch (LON)
Postal City: Long Branch
State: NJ
Zip Code: 07740
Directions: GSP Exit 105, 36 East, Right on Broadway, right on Morris, Right on Division, Number 380.
General Property Info
# Levels: 2
Acreage: 0.34
Lot Dimensions: 100 x 150
Garage: No
# Car Garage: 0
# Parking Spaces: 8
Business Operating: Yes
Franchise: No
Apx SqFt: 9436
Tax and Legal
Asmnt - Total: 1567200
Taxes: 23508
Tax Year: 2025
Remarks & Misc
Excluded: N/A
Income & Expenses
# Rental Units: 14
Financials Per: Year
Gross Income: 323400
Net Operating Income: 258400
Total Expenses: 65000
Use
Apartments: 1
Lot Description
Corner Lot: 1
Electric
Three Phase: 1
Basement
Slab: 1
Gas
On Site: 1
Cooling
Electric: 1
Water Heater
Natural Gas: 1
Heating
Electric: 1
Water
Public Water: 1
Sewer
Public Sewer: 1
Common Elements
Common Area: 1
Laundry: 1
Parking
On Site: 1
Parking Lot: 1
Assessment Status
Assessed: 1
Construction/Siding
Brick: 1
Roof
Shingle: 1
Material
Brick: 1
Concrete: 1
Landlord Pays
Common Area Maintenance: 1
Documents Available
Blue Prints: 1
Building Plan: 1
Lease: 1
Site Plan: 1
Energy Features
Energy Appliances: 1
Thermostat: 1
Windows: Energy Star Rated: 1
Property Features
Location: Near Busstop; Near Rrtrans; Near Busstop; Near Rrtrans
Use: Apartments
Basement: Slab
Cooling: Electric
Water Heater: Natural Gas
Water: Public Water
Sewer: Public Sewer
Gas: On Site
Electric: Three Phase
Parking: On Site; Parking Lot
Roof: Shingle
Material: Brick; Concrete
Lot Description: Corner Lot
Common Elements: Common Area; Laundry
Landlord Pays: Common Area Maintenance
Assessment Status: Assessed
Documents Available: Blue Prints; Building Plan; Lease; Site Plan
Energy Features: Energy Appliances; Thermostat; Windows: Energy Star Rated
Listing Office: EXP Realty
Listing Agent: Charlotte Toomey
Last Updated: March - 23 - 2026
The data relating to real estate on this web site comes in part from the Internet Data Exchange program of the MLS of the Monmouth Ocean Regional REALTORS®, and site contains live data. 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.