1637 Atlantic Ave Active Save Request In-Person Tour Request Virtual Tour
Atlantic City,NJ 08401
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 580707
Bedrooms 2
Annual Tax Amount $8,782
Tax Year 2022
Property Description
INVESTOR ALERT- Turn Key Cash Flowing Commercial Mixed Use property ! 4,602.00 approx sq.ft building with a store front and 2 apartments . All units separate gas and electric . First Floor is a Commercial storefront with private bathrooms. The commercial space is approximately 2,200 square feet. Apartment 1 has Three bedrooms. Apartment 2 is renovated/remodeled Two bedroom with Den/extra sleeping area is located in the heart of it all !!! Den is located on the lower level of this two story unit . Plus very large private deck off the kitchen . New Kitchen ,Flooring ,lighting, doors plus all new trim. Freshly painted Close to the Atlantic City Hospital ,Casinos , beach and boardwalk. Convenient location for Casino or Hospital workers!!! Annual NOI of $50,250.00 cap rate of at 10% $502,500. 9% $558,333 8% $628,125 Rental income: Storefront $2,500.00 or $30,000.00 . per year , Second floor $1,650.00 or $19,800.00 per year . Third floor $1,650.00 or $19,800.00 per year . annual income of $69,600,00 .Water & Sewer $1,100.00 per year
Location
State NJ
County Atlantic
Community Atlantic City
Area Atlantic City
Rooms
Other Rooms Den/TV Room,Kitchen
Interior
Heating Gas-Natural,See Remarks
Exterior
Garage None
Waterfront No
Building
Sewer Public Sewer
Water Public