Atlantic City, NJ 08401,3 S Raleigh Ave Ave
Atlantic City, NJ 08401,3 S Raleigh Ave Ave
Atlantic City, NJ 08401,3 S Raleigh Ave Ave
Atlantic City, NJ 08401,3 S Raleigh Ave Ave
Atlantic City, NJ 08401,3 S Raleigh Ave Ave
Atlantic City, NJ 08401,3 S Raleigh Ave Ave
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Tue
24
Dec
Wed
25
Dec
Thu
26
Dec
$ 799,000
Est. payment | /mo

5 Beds


Save
$ 799,000
Est. payment | /mo
Save

5 Beds

Key Details

Property Type Multi-Family

Sub Type 4 - 10 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 587872

Bedrooms 5

Annual Tax Amount $9,493

Tax Year 2024

Property Description

CASH FLOWING 5-UNIT APARTMENT BUILDING only a couple of blocks from the Beach on the Ventnor side of Atlantic City! Instant cash flow in a great area of the City where your occupancy rate will be incredibly high with the proximity to the water and other amenities. All CCOs & 5 year state inspection are in hand. Owner recently made major updates to the property and increased rents to market rent, making this a turnkey opportunity for your portfolio. The 2 units in the photos were empty at the time photos were taken, but will be filled prior to settlement. The other 3 units are currently filled and are of similar condition. The pro forma rent roll is $103,200.00 annually in gross rent revenue, $8,600.00 per month. Tenants pay their own electric. Owner pays Insurance, Taxes, Water/Sewer, and Gas. Pro Forma NOI comes to $76,333.00, making the pro forma Cap Rate 8.98% at the listing price, phenomenal for a property this close to the ocean! This property's appreciation value proposition is immense due to its proximity to Ventnor Beach, Stockton University, and Richmond Avenue School in AC. Enjoy the prospect of cash flow on day 1, high occupancy rates, and appreciation potential that this property offers.

Location

State NJ

County Atlantic

Community Atlantic City

Area Atlantic City

Interior

Heating Radiator

Exterior

Parking Features Detached Garage

Building

Sewer Public Sewer

Water Public

Others

Senior Community No

South Jersey Shore Regional MLS (SJSRMLS)
Listed by DEPALMA REALTY
agent-avatar

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(267) 269-3973

soldbyalisia@gmail.com

2582 Orthodox St, Philadelphia, PA, 19137, USA

GET MORE INFORMATION

Name
Phone*
Message

By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.

Go tour this home

3 S Raleigh Ave Ave