United StatesNew JerseyAtlantic City400 N Massachusetts Avenue

400 N Massachusetts Avenue
400 N Massachusetts Avenue Atlantic City, New Jersey 08401 United States

$174,900
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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...

Goldcoast Sotheby's International Realty

Listing Courtesy of EXECUTIVE REALTORS
Multi-Family Homes
Property type
555867
Web Id
555867
MLS ID
Atlantic City
School District
19
days ago

About 400 N Massachusetts Avenue

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 possible 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.

Listing Courtesy of EXECUTIVE REALTORS

Amenities

  • Deck

features

cooling
Electric, Gas
lot description
Sidewalk, Bay View

PROPERTY INFORMATION

Heating
Gas-Natural
Location
Bay Front, Corner
Sewer
Public Sewer
Water
Public
Listing Courtesy of EXECUTIVE REALTORS

Goldcoast Sotheby's International Realty

Listing Courtesy of EXECUTIVE REALTORS
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