Description
This multi-family property offers a fantastic investment opportunity in a prime location, just one block to the beach and boardwalk, this Legal 3 unit building has the potential to be converted back into a 4 unit building with CRDA approval and the addition of a rear fire escape. Currently as it stands there is a ground floor commercial space that is ready for new tenants to customize and start their business. Additionaly there is a one bedroom residential unit on the ground floor that has been successfully utilized as an AirBnB generating enough steady to cash flow to cover all of the buildings carrying costs. The top two floors have been combined into one spacious residential unit that can accomadate up to 5 or more bedrooms and multiple bathrooms. This unit is currently under development and offers ample potential for customization. The Airbnb unit is beautifully renovated and was completed as of July 2022. These renovations included all essential updates such as all new windows, an on demand tankless hot water heater, all new water supply & waste lines, upgraded electrical wiring, modern lighting & state of the art security cameras. The upstairs 2 story residential unit is under development and features all new Bay Windows, Upgraded Electrical Panel, and new water, waste, and gas lines are allready stubbed out. This is the unit that could be seperated back into two 3bdrm units. The exterior of the building features all new steel exterior doors and was freshly painted along with the East side Mural in Oct 2023. Oil tank has also been removed in 2021. With its versatile layout and prime location, this property presents an excellent opportunity for investors or those looking for a mixed use multi-family home in the heart of the cities commercial business district with great income potential. Don't miss out on this chance to own or invest in a Value Add property with near endless possibilities. Buildable 4000+ sqft lot across the street at 27 S. Kentucky also available for sale. Any furthur questions regarding this property please contact your local Real Estate Agent asap.
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
This multi-family property offers a fantastic investment opportunity in a prime location, just one block to the beach and boardwalk, this Legal 3 unit building has the potential to be converted back into a 4 unit building with CRDA approval and the addition of a rear fire escape. Currently as it stands there is a ground floor commercial space that is ready for new tenants to customize and start their business. Additionaly there is a one bedroom residential unit on the ground floor that has been successfully utilized as an AirBnB generating enough steady to cash flow to cover all of the buildings carrying costs. The top two floors have been combined into one spacious residential unit that can accomadate up to 5 or more bedrooms and multiple bathrooms. This unit is currently under development and offers ample potential for customization. The Airbnb unit is beautifully renovated and was completed as of July 2022. These renovations included all essential updates such as all new windows, an on demand tankless hot water heater, all new water supply & waste lines, upgraded electrical wiring, modern lighting & state of the art security cameras. The upstairs 2 story residential unit is under development and features all new Bay Windows, Upgraded Electrical Panel, and new water, waste, and gas lines are allready stubbed out. This is the unit that could be seperated back into two 3bdrm units. The exterior of the building features all new steel exterior doors and was freshly painted along with the East side Mural in Oct 2023. Oil tank has also been removed in 2021. With its versatile layout and prime location, this property presents an excellent opportunity for investors or those looking for a mixed use multi-family home in the heart of the cities commercial business district with great income potential. Don't miss out on this chance to own or invest in a Value Add property with near endless possibilities. Buildable 4000+ sqft lot across the street at 27 S. Kentucky also available for sale. Any furthur questions regarding this property please contact your local Real Estate Agent asap.
© 2023 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 2023-12-11T06:50:57.307.
Listing information © 2023 South Jersey Shore Regional MLS.