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)
-
0BEDS
-
N/AACRES
-
0BATHS
-
01/2 BATHS
School Ratings & Info
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)
© 2022 South Jersey Shore Regional 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. Information is deemed reliable but is not guaranteed accurate by the MLS or The Cheryl Huber Team. Properties marked with the Broker Reciprocity icon or thumbnail icon (a small house) are provided courtesy of the South Jersey Shore Regional MLS Broker Reciprocity Database. Data last updated 2022-05-18T23:49:54.367.
Listing information © 2022 South Jersey Shore Regional MLS.