$3,450,000
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… Read More security—significantly reducing capital expenditure risk for the incoming owner. With a 7.49% cap rate, 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 expenses Read Less
Courtesy of Charlotte Toomey, EXP Realty, .
Listing Snapshot
Days Online
5
Last Updated
Property Type
Commercial
Square Ft.
9,436
Lot Size
0.34 Acres
Year Built
1966
MLS Number
22602341
30 Days Snapshot Of 07740
$1.00M
+40%
(avg) sold price
13
-27%
homes sold
111
+38%
(avg) days on market
Snapshot
Area Map
Additional Details
Basement
"Slab"
Building
Built in 1966, Building area total: 9,436, Association amenities: "Laundry", "Common Area"
Cooling
"Electric"
Expenses
Operating expense: $65,000
Income
Gross income: $323,400
Lot
0.34 acres, 14,810 square feet, Area: 0.34, "Corner Lot"
Energy Saving
Green energy efficient: "Thermostat"
Parking
8 total parkings, "On Site", "Parking Lot"
Roof
"Shingle"
Sewer
"Public Sewer"
Taxes
Tax annual amount: $23,508, Tax year: 2025
Utilities
Electric: "Three Phase"
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James Ward
Broker Associate / REALTOR®

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Information herein is deemed reliable but not guaranteed and 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.
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