LONG BRANCH, NJ-The 64-unit multifamily building at 135 Rockwell Ave. here has been sold for $4.525 million to an unnamed buyer, says CB Richard Ellis’ Private Client Group, which represented the seller, a longtime client.

“As the national economy and real estate market continues to stabilize, more high-caliber, investment-grade assets across all sectors are coming onto the market, particularly New Jersey-based multifamily properties,” says Charles Berger of CB Richard Ellis. “This building is in excellent condition with a stable tenant base. This, added with the historically low interest rates available in today’s market, makes it an ideal investment opportunity for a well-capitalized investor.”

The two-story building, consisting solely of one-bedroom apartments, is 95% occupied and offers on-site parking, two superintendents and laundry facilities. The property is around 10 blocks away from the beach.