NOT LISTED FOR SALE

22 S Pennsylvania Ave Atlantic City, NJ 08401

Downtown Atlantic City Neighborhood
-- Bed
-- Bath
6,750 Sq Ft
1,329 Sq Ft Lot

Last Sold June 30, 2022

Last sale price $800,000 $119 Per Sq Ft

35 Days on Market

Highlights

  • Contemporary Architecture
  • Tankless Water Heater
  • Property is in very good condition
  • Wood Flooring
  • Central Heating and Cooling System

About This Home

As of June 2022

Attention investors, check it out at 22-24 S. Pennsylvania ave with 4 apartments and 2 commercials units to bring the cash flow to your investment portfolio. The building was totally renovated few years ago, the layout consisted with 3 apartments has 2 bedrooms and 1.5 bath and one unit with Penthouse, 3 bedroom and 2 full bath. Modern kitchen style, hardwood floor through out, central air/heat, washer and dryer in each unit. The two commercial store on the 1st floor has own HVAC unit. all 6 units features tankless gas hot water system, sperate utilities for each unit. fully occupied with cap rate almost at 9%. This is one of kind building, contemporary finished, located across from the hard rock casino. Schedule your appointment.

Last Agent to Sell the Property

Andrew Cheng

Keller Williams Realty - Cherry Hill Listed on: 04/07/2022

Keller Williams Realty - Cherry Hill

Last Buyer's Agent

Non Member Member

Metropolitan Regional Information Systems, Inc.

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,276

Year Built

  • Built in 1930

Lot Details

  • 1,329 Sq Ft Lot
  • Lot Dimensions are 16.62 x 80.00
  • Property is in very good condition

Home Design

  • Contemporary Architecture
  • Brick Exterior Construction
  • Rubber Roof

Interior Spaces

  • 6,750 Sq Ft Home
  • Wood Flooring

Accessible Home Design

  • Doors are 32 inches wide or more

Utilities

  • Central Heating and Cooling System
  • Tankless Water Heater
  • Natural Gas Water Heater

Listing and Financial Details

  • Tax Lot 00008
  • Assessor Parcel Number 02-00138-00008

Community Details

Overview

  • 4 Units

Building Details

  • Income includes apartment rentals, professional offices
  • Net Operating Income $74,032

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,276

Year Built

Built in 1930

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Structure Type: Over Storefront
  • Architectural Style: Contemporary
  • Accessibility Features: 32"+ Wide Doors
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1930
  • Automatically Close On Close Date: No
  • Remarks Public: Attention investors, check it out at 22-24 S. Pennsylvania ave with 4 apartments and 2 commercials units to bring the cash flow to your investment portfolio. The building was totally renovated few years ago, the layout consisted with 3 apartments has 2 bedrooms and 1.5 bath and one unit with Penthouse, 3 bedroom and 2 full bath. Modern kitchen style, hardwood floor through out, central air/heat, washer and dryer in each unit. The two commercial store on the 1st floor has own HVAC unit. all 6 units features tankless gas hot water system, sperate utilities for each unit. fully occupied with cap rate almost at 9%. This is one of kind building, contemporary finished, located across from the hard rock casino. Schedule your appointment.
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring Type: Hardwood
  • Total Sq Ft: 6750
  • Living Area Sq Ft: 6750
  • Price Per Sq Ft: 125.78
  • Above Grade Finished Sq Ft: 6750
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 22-24

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Block, Brick
  • Roof: Rubber
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No

Utilities

  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Central A/C
  • Heating Fuel: Natural Gas
  • Heating Type: Central
  • Heating: Yes
  • Hot Water: Natural Gas, Tankless
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Schools

  • School District: ATLANTIC CITY SCHOOLS
  • School District Key: 300200396906
  • School District Source: Listing Agent

Green Features

  • Clean Green Assessed: No

Lot Info

  • Improvement Assessed Value: 205800.00
  • Land Assessed Value: 32000.00
  • Lot Size Acres: 0.03
  • Lot Dimensions: 16.62 x 80.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 1329.00
  • Property Condition: Very Good
  • Year Assessed: 2021
  • Zoning: CBD

Rental Info

  • Units Furnished: All
  • Vacation Rental: No

Multi Family

  • Gross Income: 97200.00
  • Income Includes: Apartment Rentals, Professional Offices
  • Other Units: Unit 1,Unit 2,Unit 4,Unit 5,Unit 3,Unit 6

Tax Info

  • Assessor Parcel Number: 3299718
  • Tax Annual Amount: 9276.00
  • Assessor Parcel Number: 02-00138-00008
  • Tax Lot: 00008
  • Tax Total Finished Sq Ft: 2906
  • Tax Data Updated: No
  • Tax Year: 2021
  • Close Date: 06/30/2022

MLS Schools

  • School District Name: ATLANTIC CITY SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 16, 2023
Sold by
Halo Homes Nj Llc
Bought by
Halo Homes Nj Llc

Purchase Details

Listed on
Apr 7, 2022
Closed on
Jun 21, 2022
Sold by
Dk Pennsylvania Realty Llc
Bought by
Halo Homes Nj Llc
Seller's Agent
Andrew Cheng
Keller Williams Realty - Cherry Hill
Buyer's Agent
Non Member Member
Metropolitan Regional Information Systems, Inc.
List Price
$849,000
Sold Price
$800,000
Premium/Discount to List
-$49,000
-5.77%

Purchase Details

Closed on
Jan 25, 2008
Sold by
Baer Ronald and Baer Jacqueline N
Bought by
Dk Pennsylvania Realty Llc

Purchase Details

Closed on
Nov 30, 2000
Sold by
Ulin Harriet and Stahler Harriet
Bought by
Ulin Jonathan W

Purchase Details

Closed on
Apr 8, 1994
Sold by
Lincoln Atlantic Inc
Bought by
Lincoln Motel Inc
Source: Public Records

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Halo Homes Nj Llc -- --
Halo Homes Nj Llc $800,000 Stewart Title Guaranty Company
Dk Pennsylvania Realty Llc $235,000 Foundation Title
Ulin Jonathan W -- --
Lincoln Motel Inc $45,639 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Dk Pennsylvania Realty Llc $88,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/30/2022 06/30/22 Sold $800,000 -5.8% $119 / Sq Ft
04/07/2022 04/07/22 For Sale $849,000 0.0% $126 / Sq Ft
09/08/2019 09/08/19 Rented -- -- --
01/29/2018 01/29/18 For Rent $1,200 -- --
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $8,209 $237,800 $32,000 $205,800
2023 $8,982 $237,800 $32,000 $205,800
2022 $8,982 $237,800 $32,000 $205,800
2021 $9,277 $237,800 $32,000 $205,800
2020 $9,355 $237,800 $32,000 $205,800
2019 $9,012 $226,200 $33,200 $193,000
2018 $7,992 $226,200 $33,200 $193,000
2017 $7,738 $226,200 $33,200 $193,000
2016 $8,731 $226,200 $33,200 $193,000
2015 $10,779 $315,000 $114,800 $200,200
2014 $10,546 $315,000 $114,800 $200,200
Source: Public Records

Agents Affiliated with this Home

  • Andrew Cheng

    Seller's Agent in 2022

    Andrew Cheng

    Keller Williams Realty - Cherry Hill

    (267) 506-7100

    1 in this area

    128 Total Sales

    Section Image

  • N

    Buyer's Agent in 2022

    Non Member Member

    Metropolitan Regional Information Systems

  • Rivka Nagel

    Seller's Agent in 2019

    Rivka Nagel

    BHHS Fox & Roach

    (609) 214-0101

    1 in this area

    40 Total Sales

    Section Image
See All Agents

Map

Source: Bright MLS

MLS Number: NJAC2003630

Bright MLS

APN: 02-00138-0000-00008

New Jersey Atlantic County Atlantic City 08401 Downtown Atlantic City

22 S Pennsylvania Ave, Atlantic City, NJ

This home is located at 22 S Pennsylvania Ave, Atlantic City, NJ 08401 since 07 April 2022. This property was built in 1930. 22 S Pennsylvania Ave is a home located in Atlantic County with nearby schools including Pennsylvania Avenue School, Atlantic City High School, and New Hope Christian Academy/Robinson Small Learning Center.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Bright MLS The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by BRIGHT through a licensing agreement.
Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site.
The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale.
Property information displayed is deemed reliable but is not guaranteed.
Copyright 2025 Bright MLS, Inc.

Nearby Homes