400 N Massachusetts
Atlantic City, NJ 08401
- – beds
- – baths
- – sqft
- 1,250 sqft lot
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Great investment located in Bungalow Park and across from the bay!! This corner property consists of two units: One commercial store rents $1,700 per month ( tenant pays half of the water) and is currently on time, lease is "month/month" and the tenant has occupied the unit since 2016. Upstairs needs updating and is large two-story 3 Br 1BA with lots of space and can rent for $1,600-$1,700 per month depending on finishes. Property is being sold strictly "AS IS," and the price is reflective of the condition. Some of the contents of the commercial store belong to the tenant and are not included in the sale—possible owner financing with 30% down (short term). $1,730 Cash flow, 19.77% COC ROI (based on 5% vac, 5.5% int, and $50,000 repairs upstairs unit), 16.98 cap rate.
Listing courtesy of SJSRMLS / eXp, Realty-Atlantic City
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Last updated Apr 9, 2024
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MLS# 555867 —
Walk Score®
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Bike Score®
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Transit Score®
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Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
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Max Internet Speed
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Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
4/7/22
Apr 7, 2022
|
Sold | SJSRMLS | $160,000 | -5.8% |
10/27/21
Oct 27, 2021
|
Price Changed | SJSRMLS | $169,900 | -2.9% |
9/27/21
Sep 27, 2021
|
Listed / Active | SJSRMLS | $174,900 |