1637 Atlantic
Atlantic City, NJ 08401
- – beds
- – baths
- – sqft
- 2,213 sqft lot
10.6% CAP RATE!! INVESTOR ALERT - Turnkey Cash Flowing Commercial Mixed Use property! Located next to the new development site of a 125,000 Square foot agricultural museum. This Mix-use property consists of approximately 4,602 sq.ft. with a store front and 2 apartments. All units have separate gas and electric. First Floor is a Commercial storefront with 2 private bathrooms. The commercial space is approximately 2,200 square feet. Apartment 1 has Three bedrooms with newly painted walls and carpet with a large private back deck. Apartment 2 is a two-level fully renovated/remodeled Two bedroom with Den/extra sleeping area. Also comes with a very large private deck off the kitchen. New Kitchen, Flooring, lighting, paint, doors, and all new trim. Located in the heart of it all!!! Close to the Atlantic City Hospital, Casinos, beach and boardwalk. Convenient location for Casino or Hospital workers!!! Annual NOI of $50,250 putting this listing at a 10.6% cap rate!! Rental Income: Storefront $2,500 or $30,000 per year with annual rent increase on a 10-year lease; Apartment One $1,650 or $19,800 per year; Apartment two $1,650 or $19,800 per year. Total annual income of $69,600. Annual Expenses: Water & Sewer $1,100.00 per year; Insurance $4,500 per year; Property Tax $8,750; Misc $5,000 per year.
Last checked:
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Last updated Dec 7, 2024
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MLS# 580707 —
The Building
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New Construction:No
Interior
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Other Rooms:Den/TV Room, Kitchen
Location
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Latitude:39.360962
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Longitude:-74.431722
The Property
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Location:See Remarks
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Block #:290
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Lot #:7
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Lot Dimensions:22.13 x 100
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Outside Features:Deck, Sidewalks
Listing Agent
- Contact info:
- Office phone:
- (609) 822-9615
Heating & Cooling
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Heating:Gas-Natural, See Remarks
Utilities
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Water:Public
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Sewer:Public Sewer
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Separate Meters:Electric, Heat, Hot Water
Appliances
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Appliances:Gas Stove, Refrigerator
The Community
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Adult Community/55+:No
Parking
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Parking:None
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Garage:None
Extra Units
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# of Units:3
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2 Bedroom Units:1
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3 Bedroom Units:1
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).
Transit Score®
Provided by WalkScore® Inc.
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™
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 |
|---|---|---|---|---|
|
4/24/24
Apr 24, 2024
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Price Changed | SJSRMLS | $475,000 | -9.5% |
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4/1/24
Apr 1, 2024
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Price Changed | SJSRMLS | $525,000 | 18.0% |
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12/23/23
Dec 23, 2023
|
Listed / Active | SJSRMLS | $445,000 |
