- – beds
- – baths
- 7,227 sqft
- 2,896 sqft lot
- $269 per sqft
- 1922 build
WOW !!! , 19 UNITS ( 7 One bed , 1 kitchen, 1 bathromm Apartments and 17 Studio Units ) EXCELLENT INVEST PROPERTY !!! : total annual gross rental incoe from 19 Units: $268.812.00 but 5 % vacant now so ( decuct $13,406 ) so now rental income is $255,406.00 and seller's expense are $55,719.00 so CURRENT NET ANNUAL RENTAL INCOME IS $200,000.00 . One and half block away from New Jersey Atlantic city Boardwalk , NO Gas Line, All tenants have their own elecric meter and pay bill. This would be a really good investment, currently over 10% cap and current owner has had it for 40 years and one person manages it for $1,200 a month and has a manager unit in the basement with all the tools and equipment. And there are 19 electric meters for all 19 units with no gas so the owner is not responsible for much since the cooking, air conditioning, and heating are all electric. And there is one more electric meter that is for the common area lights and the owner pays the electric bill. There is a fire alarm system, a mailbox, and an exit stairwell for emergencies. It is very easy to manage and it is located just a block and a half from the Atlantic City Boardwalk in New Jersey so if you kick out all the tenants and rent it out as an Airbnb or vacation spot in the summer you could make more money. The only things the owner is responsible for are the water and the roof and the common area lights and the roof was new last year so there are no issues. It is a very cozy and nice area. The reason for selling is because the owner is retiring. And there are new roofs on both sides of the building. It looks much better than before because of the siding, and there are two unused units in the basement that could be used for two more tenants if the city gives permission. It is okay for an agent or POTENTIAL BUYERS to drive around the building and look around but they must not open the door or enter without prior notice or make contact with the tenant.
Last checked:
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Checking…
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Last updated Jun 12, 2025
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MLS# NJAC2019198 —
The Building
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Year Built:1922
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Year Built Source:Assessor
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New Construction:No
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Construction Materials:Brick
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Building Units Total:4
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Structure Type:Other
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Architectural Style:Other
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Accessibility Features:2+ Access Exits
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Basement:Yes
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Basement Type:Other
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Total SqFt Source:Assessor
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Total Below Grade SqFt Source:Assessor
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Tax Total Finished SqFt:7227
Interior
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Fireplace:No
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Living Area SqFt Source:Assessor
Room Dimensions
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Total SqFt:7227
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Living Area SqFt:7,227 Sqft
Financial & Terms
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Sale Type:Standard
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Acceptable Financing:Cash, Contract, Conventional, Exchange, Other
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Possession:0-30 Days CD
Location
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Directions:Atalantic city-Atlantic Ave & Canbridge Ave
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Latitude:39.34437561
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Longitude:-74.46847534
The Property
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Property Type:Multi-Family
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Property Subtype:Other
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Lot Size Units:Square Feet
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Lot Size Acres:0.07
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Lot Size Source:Assessor
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Lot Size Dimensions:38.61 x 75.00
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Lot Dimensions Source:Assessor
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Lot SqFt:2,896 Sqft
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Exclusions:NO Washer & Dryers for all tenants in the basement , belong to washer and dryers service company.
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Zoning:RR-1
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Other Structures:Above Grade, Below Grade
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Waterview:No
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Waterfront:No
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Water Oriented:No
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Water Access:No
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Navigable Water:No
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Tidal Water:No
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Riparian Rights:No
Listing Agent
- Contact info:
- Agent phone:
- (215) 668-1666
- Office phone:
- (215) 635-5100
Taxes
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Tax ID Number:22-00049-00009
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Tax Year:2024
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Tax Lot:00009
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Tax Annual Amount:$17,696
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Tax Assessed Value:$647,500
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Year Assessed:2024
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Total Taxes Payment Frequency:Annually
Heating & Cooling
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Cooling Type:Wall Unit, Window Unit(s)
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Central Air:No
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Cooling Fuel:Electric
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Heating:Yes
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Heating Type:Other
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Heating Fuel:Electric
Utilities
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Utilities:Cable TV, Cable TV Available, Electric Available, Phone Available, Sewer Available, Water Available
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Sewer/Septic:Public Sewer
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Hot Water:Electric
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Water Source:Public
Schools
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Elementary School:Ventnor E.S.
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Middle School:Ventnor M.S.
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High School:ATLANTIC CITY
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School District Name:Atlantic City Schools
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School District Source:Listing Agent
The Community
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Pool:No Pool
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Association Recreation Fee:No
Parking
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Garage:No
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Type of Parking:On Street
Extra Units
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Vacation Rental:No
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One Bedroom Units:7
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
6/12/25
Jun 12, 2025
|
Listed / Active | BRIGHT | $1,950,000 |