$3,750,000

Rare opportunity to invest in this Established Business of owning a fully licensed Rooming House in N.J. at a 10.6% CAP RATE. The owner has transformed this establishment into a 95-100% occupancy home for adults that need a weekly or monthly lease with many staying long term. 51 single occupancy rooms and six one bedroom apartments bring in a steady flow of income, while affording it's occupants a rent well below market rates. The Belvedere in Keansburg prides itself on a clean, well kept, establishment. Located within 2 blocks to the Keansburg waterfront and the Baypoint Redevelopment area with the millions of dollar transformation happening now. It's the perfect time to invest in this opportunity. Consists of BUILDINGS, LAND & BUSINESS. Operating Licenses Included.Wired for high speed internet throughout with cameras covering common areas. Passed all recent State Inspections. Owner keeps building immaculate. Office with full apartment attached for staff.Property is located in a flood zone. Owner does not have flood insurance as property did not flood during Storm Sandy. Crawl space under building. Owner just had 50 yr roof installed with all decking replaced April 2024 on the 3 story building.