Water Views
Address
25 S Congress Ave, Atlantic City, NJ
Price
$ 1,100,000
Property Attributes
  • MLS#560224
  • TypeMulti-Family
  • CountyATLANTIC
  • CityAtlantic City
  • AreaAtlantic City
  • Zip08401
  • Style4 - 10 Units
  • Price$ 1,100,000
  • Bedrooms18
  • Full Bathrooms0
  • Half Bathrooms0
Listing Provided Courtesy Of:
WEICHERT REALTORS ASBURY GROUP-AC
Data Source:
South Jersey Shore Regional MLS (SJSRMLS)
Property Description

Turn Key 10 Unit Apartment Building fully occupied with long term tenants on month to month leases - Investor Alert - 29% Projected Cap-Rate as an AirBnB - 1 Block to the new Showboat Waterpark! EVERYTHING WAS NEW IN THIS BLDG as of 2014!!! Fully renovated 10 unit apt bldg. Features four 1bdrms, four 2bdrms, & two 3bdrms. Without a doubt the nicest 10 unit bldg for sale in the city. Current income & expenses, 2022 fair market rent pro-forma, & AirBnB Pro-forma are all available to qualified buyers only. Ideal location between Atlantic and Pacific Aves in the up and coming AC Inlet. Walking distance to the Beach and Boardwalk, Hard Rock & Ocean Resort Casino, The Showboat, Absecon Lighthouse, Historic Gardner's Basin, Atlantic City Aquarium, & the Inlet. All public transportation is available half a block away in either direction. Every single thing on this building was replaced in 2014 including the roof, windows, siding, fire escape, sprinkler system, sheetrock, mold resistant drywall, framing, insulation, vents, flooring, tile, kitchens, bath, tubs, appliances, water heaters, fire monitoring system, sinks, garbage disposal, gas lines, water lines, sewer lines, drain lines, plumbing, electric, and utilities. Collect rents with no major ongoing repairs, low taxes & low flood ins. Perfect for 1031 tax exchange AirBnB, VRBO, short term or annual rental investment property. (Two lots also available to purchase as a package deal MLS# 506991 & 506990, 7 & 11 S Congress. 4445 SQFT)

Price History
3/3/2022 Listed $1,200,000
4/12/2022 5% - $1,150,000
5/5/2022 14% - $1,000,000

General Features

Appliances Electric Stove, Refrigerator, Self Cleaning Oven
Class MULTI-FAMILY
Garage None
Heating Baseboard, Electric
Listing Area Atlantic City
Location Boardwalk Area, Water View
Sewer Public Sewer
Status Active
Status Active
Tax Year 2022
Taxes 13769
Type 4 - 10 Units
Water Public
Year Built 2014

Interior Features

# of 1 Bedroom Units 4
# of 2 Bedroom Units 4
# of 3 Bedroom Units 2
# of Units 10

Exterior Features

Exterior Vinyl
Lot Dimensions 40x95
Outside Features Curbs, Ocean View, Sidewalks, Sprinkler System
Separate Meters Cable TV, Electric

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 08401

Price
AVG $380K
$1.1M
Visits
AVG 33
98
Year Built
AVG 1924
2014
Walkscore
AVG 75
86
Data Provided by Walkscore ® not using MLS data

Areas We Cover