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25 S Congress

Atlantic City, NJ 08401
  • $1,100,000
  • STATUS: Active
  • ON SITE: 77 Days
  • MLS #: 560224
Price Reduced
$1,100,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
2014
County:

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)

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© 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.
www.oceancitynewjerseyhomes.com/homes/126293915
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25 S Congress Atlantic City, NJ 08401

  • Price: $1,100,000
  • Status: Active
  • On Site: 77 Days
  • MLS #: 560224
0
Beds
0
Baths
0
½ Baths
N/A
Acres
2014
Built
Neighborhood:
Atlantic City
County:
Atlantic
Area:
Atlantic City
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)
Exterior Features

Garage None Location Boardwalk AreaWater View Lot Dimensions 40X95 Outside Features CurbsOcean ViewSidewalksSprinkler System Parking Three Or More Cars Siding Exterior Vinyl

Interior Features

Appliances Electric StoveRefrigeratorSelf Cleaning Oven Heating BaseboardElectric

Property Features

Approved Short Sale No Auction YN No Bank Owned Foreclosure No May Be Subject To Third Party Approval Short Sale No Multifamily Type 4 - 10 Units Number Of1 Bedroom Units 4 Number Of2 Bedroom Units 4 Number Of3 Bedroom Units 2 Rental Information 100 Percent Occupancy Sale Or Rent For Sale Separate Meters ElectricCable Tv Sewer Public Sewer Tax Year 2022 Taxes 13769 Water Public

Listing information © 2022 South Jersey Shore Regional MLS.
Listing provided courtesy of Weichert Realtors Asbury Group-Ac.


© 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.
 
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The Cheryl Huber Team
109 34th St
Ocean City NJ, 08226