The property involved in this transaction is a multifamily beachside duplex located at 116 East 28th Street in Ship Bottom. The asset was sold for $1,300,000, featuring two units, each with 3 bedrooms and 1.5 baths. The property has separate utilities and parking facilities. One unit is currently rented for income, while the other is occupied by the owner, providing a unique investment opportunity just seven houses from the ocean.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $1,300,000
• Units: 2
• Price per Unit: $650,000
• Address: 116 East 28th Street
• Market: Ship Bottom
• Broker: Matthew Garabedian - Garabedian Realty Group

Matthew Garabedian of Garabedian Realty Group, LLC facilitated this transaction, highlighting his role in connecting the buyer and seller. The first-floor unit generates rental income, while the second-floor unit serves as the owner's residence, creating an appealing investment scenario in a prime beach area.