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Investment Property for Sale
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For Sale
Multifamily Investment Property 3 Apartments and 14 Rooms 100% Occupied
T3 Apartments and 14 Rooms. Building boasts lots of character including a beautiful interior archway adding to the charm. Perfect setup for new innovative ideas. This building was built during a time Atlantic City room rentals were at a peak which is popular once again. Located in close proximity to the beach and boardwalk offering lots of amenities in the immediate area. Building is currently 100% occupied and well run. The apartments are separately metered and have their own private bathrooms & kitchens. The rooms are a good size for this style building and share four full bathrooms
spread out over the second and third floors. The first floor has a large office or common room perfect for additional features. Second and third floor also have additional rooms/common areas. Dry basement with interior and exterior access providing lots of storage. There is a small parking pad in the rear of the building with potential to lease additional spots from neighboring owners. Please contact Lee Jerome for Marketing Package and P & L.
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For Sale
Beach Block Multifamily - Memphis Bella Inn with 15 rooms 100% Occupied
Memphis Bella Inn is comprised of 15 rooms on the Beach Block of Tennessee Ave, former Bed & Breakfast. Current owner diligently maintains the building appropriately and is up to date on all licensing and inspections. Tax appeal this year will reduce the taxes close to forty percent. Building is currently 100% occupied. Please contact Lee Jerome for marketing package and more details.
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For Sale
Two commercial buildings located at a signalized intersection
cornering Groveland Ave and Bethel Rd
First time being offered. Two buildings located at a signalized intersection cornering Groveland Ave and Bethel Rd with ingress/egress onto both streets. The buildings are very well maintained with a new roof and all new HVAC mechanicals in each unit within the last two years. Three individual units all separately metered totaling 3,942 rentable SF. The main building consists of two units; 1st floor is 1,576sf plus a full basement and will be vacated at closing, great space for an owner/operator. Second Floor is 1,224sf and currently leased on a month to month basis. The second building totals 1,142s/f on two floors and sits right on the corner offering tremendous visibility for many uses. This space is also leased on a month to month basis. 21 off street parking spots allows many commercial uses or potential redevelopment. Please contact Lee Jerome or Shanta Comeaux-Brookins for marketing package and more details.
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For Sale - UNDER CONTRACT!
Multi Family Investment Building located on the Beach Block in Ventnor
UNDER CONTRACT! Multi Family Investment Building located on the Beach Block in Ventnor. Great area with shops and dining within walking distance plus boardwalk and beach a few doors down. 11 Units plus finished basement with two full bathrooms. Basement area has exterior and interior access through the building - great setup for management. This building is very well maintained with new wooden fire escapes for easy maintenance. Former bed & breakfast converted to 11 one bedroom/studio units. All units have private bathrooms and two units have private kitchens. Currently 100% occupied with yearly tenants. On site coin operated laundry for tenants. Potential added value with new innovated owner. Please contact Lee Jerome for marketing package and more details.
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For Sale - UNDER CONTRACT!
100% Occupied Mixed Use on Atlantic Avenue
with Two Commercial Long-Term Tenants and 12 Apartments
UNDER CONTRACT! Two commercial long-term tenants, 12 apartments: One 3-bedroom, seven 2-bedroom, two 1-bedroom, two studios. Buildings are currently 100% occupied. Totaling $12,600 per month gross rent. Tenants pay their own utilities (all units separately metered), water is split between owner and 2 commercial tenants equally. Taxes for both buildings total $27,455. Insurance is $10,000, common electric is $800, water/sewer is $3,000, maintenance estimate is $7,500, management estimate is $12,000. Total expenses = $60,755. NOI of $75,325 taking into account vacancy and noncollectable debt of 10%.
The buildings and units are all well maintained by a very qualified owner keeping all state licenses and city inspections up to date. One building is updated with central heat and air conditioning, the other building is electric baseboard heat and window units. Located one block from the hospital New Jersey Transit bus terminal and rail terminal in the Central Business District. Walking distance to beach, boardwalk, casinos, Tanger retail outlets. Please contact Lee Jerome for details and P&L.
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Joshua Levin, CCIM
Broker of Record
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Lee Jerome
Senior Associate
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Shanta Comeaux-Brookins
Sales Associate
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Levin Commercial Real Estate, LLC
1616 Pacific Avenue, Suite 416
Atlantic City, NJ 08401
Phone: (609) 344-5200
Fax: (609) 344-5272
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