Multifamily Property in Long Beach Township, NJ Sells for $1.3 Million
RE/MAX represents buyer in the sale of a 2,016 SF multifamily property in Long Beach Township, NJ for $1,317,400.
In a recent transaction, a multifamily property located at 57 Adrian Rd in Long Beach Township, NJ sold for 1,317,400. The property spans 2,016 square feet, resulting in a price per square foot of 653.
Mike Spark of RE/MAX represented the buyer in the transaction, while Scott Wayman of Diane Turton REALTORS represented the seller.
The property is located in Long Beach Township, a popular destination for tourists and vacationers due to its proximity to the beach and various attractions. The area is known for its high-end homes and vacation rentals, making it a desirable location for real estate investment.
The property itself is a multifamily building, which is a popular asset type in the area due to the high demand for vacation rentals. The building likely contains multiple units, which can be rented out to vacationers during the summer months.
The sale price of 1,317,400 is a strong indicator of the demand for multifamily properties in Long Beach Township. The price per square foot of 653 is also relatively high, indicating that the property is in good condition and located in a desirable area.
Overall, this transaction is a positive sign for the Long Beach Township real estate market. The demand for multifamily properties in the area is strong, and investors are willing to pay a premium for properties in desirable locations. As the area continues to attract tourists and vacationers, it is likely that the demand for real estate investment will remain high.