1637 Atlantic Avenue

Atlantic City, NJ 08401

$475,000
Price
—
Beds
4,602 Sq. Ft.
$103 / Sq. Ft.
4,602
Sq. Ft.
$103
per Sq. Ft.
a picture of city view
a view of a building entrance
a view of a building entrance
a picture of city view
a view of a city
a view of bathroom
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a view of entryway
a view of walk in closet with empty racks
a view of hallway with wooden floor
a kitchen with a sink stove and cabinets
a kitchen with white cabinets sink and white appliances
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a view of an empty room and chandelier fan
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a view of an empty room with a window
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a white toilet sitting next to a bathroom sink and vanity
a bathroom with a sink a toilet and mirror
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a view of a terrace with sky view
a view of a hallway with wooden floor
a view of a glass door with a yard
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an empty room with wooden floor and windows
a view of an empty room with window and wooden floor
a view of empty room with wooden floor
a bathroom with a sink and a mirror
a bathroom with a toilet and a shower
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Description

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...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.
  1. Listed by DONNA PALAZZO-BURNSIDE • BALSLEY/LOSCO-VENTNOR

Property Details for 1637 Atlantic Avenue

City/Community
Atlantic City
Class
MULTI-FAMILY
Parking - Exterior
None
Waterfront (Y/N)
No
Zoned
CBD
LISTING UPDATED: 10/28/2024 06:05 PM

Property Details for 1637 Atlantic Avenue

StatusActive
MLS #580707
Days on Market361
Taxes$8,782 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMULTI-FAMILY / Duplex
Year Built-
Lot Size0.05 AC / 2,213 SF
CountyAtlantic County

Building Information for 1637 Atlantic Avenue

Stories-Residences3Year Built-Building Size-Lot Size0.05 AC / 2,213 SF

Property Information for 1637 Atlantic Avenue

Summary
Location and General Information
  • Address: 1637 Atlantic Ave
  • Address Number: 1637
  • Address Search Number: 1637
  • Address Street: Atlantic
  • Area: Atlantic City
  • County: Atlantic
  • Directions: 1637 Atlantic . Block after Martin Luther King Blvd.
  • Fips Code: 34001
  • Location: See Remarks
  • State: NJ
  • Street Designation: Ave
  • Zip: 08401
Parking
  • Garage: None
Taxes and HOA Information
  • LVT Date: 12-23-2023
  • Tax Year: 2022
  • Taxes: 8782
Property
Lot Information
  • Approved Short Sale?: N/A
  • Approx SQFT: 4602
  • Block #: 290
  • Lot #: 7
  • Lot Dimensions: 22.13 x 100
Property and Assessments
  • Associated Document Count: 1
  • Doc Timestamp: 10-15-2024
  • New Construction: No
  • Total Assessment: 232500
  • Water: Public
  • Adult Community/55+: No
Utilities
  • Sewer: Public Sewer
Interior and Exterior Features
Exterior Features
  • Outside Features: Deck, Sidewalks
Interior Features
  • Appliances: Gas Stove, Refrigerator
  • Heating: Gas-Natural, See Remarks
  • Other Rooms: Den/TV Room, Kitchen
Multi Family
Multi-Family Information
  • # of 2 Bedroom Units: 1
  • # of 3 Bedroom Units: 1
  • Annual Insurance: 4500
  • Annual Insurance (O/T): Owner
  • Annual Maint (O/T): Owner
  • Annual Maintenance: 5000
  • Annual Taxes: $8,782
  • Annual Taxes (O/T): Owner
  • Limited Service (Y/N): No
  • Number Of Units: 3
  • Rental Information: See Remarks
  • Separate Meters: Electric, Heat, Hot Water
  • Suitable For: Other (See Remarks)
Unit 1
  • Unit 1 Level: Lower
  • Unit 1 Unit: 1
Unit 2
  • Unit 2 Baths: 1
  • Unit 2 Bedrooms: 3
  • Unit 2 Half Baths: 0
  • Unit 2 Level: Upper
  • Unit 2 Rooms: 5
  • Unit 2 Unit: 2
Unit 3
  • Unit 3 Baths: 1
  • Unit 3 Bedrooms: 2
  • Unit 3 Half Baths: 0
  • Unit 3 Level: Upper
  • Unit 3 Rooms: 5
  • Unit 3 Unit: 3

Property History for 1637 Atlantic Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1637 Atlantic Avenue

Taxable ValueLand$68,800Additions$163,700Total$232,500
Tax Record2023$8,289 ($691 / month)
Home Facts
Total Finished SqFt4,602 SqFtAbove Grade Finished SqFt4,602 SqFtStories2Lot Size2,213 SqFtStyleMiscellaneous CommercialYear Built1930ZoningCBDCountyATLANTICAPN02 00290-0000-00007

Schools near 1637 Atlantic Avenue

This home is within Atlantic City Public School District.
Rating
School
Type
Grades
Distance
New York Avenue School
Public - PK to 8
Atlantic City High School
Public - 9 to 12
Our Lady Star Of The Sea Regional
Private - PK to 8
Rating
School
Distance
New York Avenue School
PublicPK to 8

Atlantic City High School
Public9 to 12

Our Lady Star Of The Sea Regional
PrivatePK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 1637 Atlantic Avenue, Atlantic City, NJ 08401

1637 Atlantic Avenue is a multi-family home for sale in Atlantic City, NJ 08401. This property was listed for sale on December 22, 2023 by BALSLEY/LOSCO-VENTNOR, it's currently listed at $475,000. It has been on the market for a total of 361 days and was last sold on December 30, 2021. This listing's school district is Atlantic City Public School District. Nearby schools include New York Avenue School, Atlantic City High School and Our Lady Star Of The Sea Regional. 1637 Atlantic Avenue is a 0-bed, 0-bath, 4,602 sqft multi-family home.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of BALSLEY/LOSCO-VENTNOR

Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.