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Creek Point Apartments 235 Creek Rd 50 Unit Apartment Building For Sale Keansburg, NJ 07734
Investment Highlights
- Creek Point Apartments is a 50-unit value-add apartment community located in Monmouth County, NJ.
- The asset is comprised of four garden-style apartment buildings with semi-private entrances built in 1965.
- Creek Point Apartments has a current rental upside of 11% a month in a market with no adopted rent control ordinance.
- Accompanied with assumable financing with 7 years remaining, 3 years of I/O, at a 5.21% rate providing an attractive 11% CoC at closing.
- The community has an ideal unit-mix of 21 two-bedroom and 29 one-bedroom apartments ranging from 700-850 square feet.
- The property has seen significant capital expenditures with new roofs, boilers, hot water heaters and plumbing along with 80% of the apartments being
Executive Summary
Creek Point Apartments is a 50-unit value-add apartment community located in Monmouth County, NJ.
Property Facts
| Sale Type | Investment | Lot Size | 1.81 AC |
| No. Units | 50 | Building Size | 45,132 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1965 |
| Building Class | C | Parking Ratio | 2.22/1,000 SF |
| Zoning | SF-05 | ||
| Sale Type | Investment |
| No. Units | 50 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.81 AC |
| Building Size | 45,132 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 2.22/1,000 SF |
| Zoning | SF-05 |
Amenities
Unit Amenities
- Ceiling Fans
- Hardwood Floors
- Refrigerator
- Oven
Site Amenities
- Laundry Facilities
- Picnic Area
- Playground
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 29 | - | 700 |
| 2+1 | 21 | - | 850 |
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Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 23-00097-0000-00021 | Improvements Assessment | $4,320,202 CAD |
| Land Assessment | $3,314,698 CAD | Total Assessment | $7,634,900 CAD |
Property Taxes
Parcel Number
23-00097-0000-00021
Land Assessment
$3,314,698 CAD
Improvements Assessment
$4,320,202 CAD
Total Assessment
$7,634,900 CAD
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Creek Point Apartments | 235 Creek Rd
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