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400 N Massachusetts Avenue

ATLANTIC CITY, NJ 08401
  • $174,900
  • STATUS: Active
  • ON SITE: 27 Days
  • MLS #: NJAC2001024
UPDATED: 58 min ago
$174,900
  • 0
    BEDS
  • 0.03
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,697
    SQFT
  • $65
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1930
County:

School Ratings & Info

School District:

Description

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+GGpossible 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.

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©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Dekanski Home Selling Team :: RE/MAX 1st Advantage. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-10-23T06:58:01.737.
www.gardenstatehomesearcher.com/homes/121792678
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400 N Massachusetts Avenue ATLANTIC CITY, NJ 08401

  • Price: $174,900
  • Status: Active
  • Updated: 58 min ago
  • MLS #: NJAC2001024
0
Beds
0
Baths
0
½ Baths
0.03
Acres
2,697
SQFT
$65
$/SQFT
1930
Built
Neighborhood:
Atlantic City (20102)
County:
Atlantic
Area:
Atlantic City (20102)
School District:
Atlantic City Schools
Property Description
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+GGpossible 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.
Exterior Features

Architectural Style Traditional Construction Materials BrickVinyl Siding Garage YN No Other Structures Above GradeBelow Grade Parking Types None Pool No Pool Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 2697 Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling None Fireplaces Total 0 Heating Radiator Heating YN Yes Single Room Units 0 Three Bedroom Units 1 Two Bedroom Units 0

Property Features

Accessibility Features None Assessment Year 2020 Central Air YN No Cooling Fuel None Heating Fuel Natural Gas Hot Water Natural Gas Municipality Atlantic City Navigable Water YN N New Construction YN No Number Of Units Total 2 Original MLSNumber 801006316928 Ownership Interest Fee Simple Possession Settlement Property Sub Type Duplex Sale Type Standard Sewer Public Sewer Structure Design Type Over Storefront Tax Annual Amount 6043.00 Tax Assessment Amount 153600.00 Tax Lot 00008 Vacation Rental YN No Water Source Public Zoning R-1

Listing courtesy of Executive Realtors.


©2021 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Dekanski Home Selling Team :: RE/MAX 1st Advantage. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2021-10-23T06:58:01.737.
 
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The Dekanski Home Selling Team :: RE/MAX 1st Advantage
170 Inman Avenue
Colonia NJ, 07067