$499,000

2801 Arctic Ave Atlantic City, NJ 08401

Chelsea Neighborhood

Estimated payment $3,272/month

Total Views 3,373
-- Bed
-- Bath
3,220 Sq Ft
$155 Price per Sq Ft

Highlights

  • Water Views
  • Wood Flooring
  • Ceiling height of 9 feet or more
  • 0.03 Acre Lot
  • Corner Lot
  • 4-minute walk to Texas Avenue Playground

About This Home

Prime location near famous casinos and the boardwalk, featuring a restaurant, employee apartments, and untapped potential – a Triple-Level Gem! This is a fantastic opportunity for first-time homebuyers to live on the third floor and rent out the other two levels to potentially cover the mortgage, or for investors seeking strong rental income. The ground floor houses a well-established restaurant operating for over six years, adding great value. The second floor is now vacant and offers 3 spacious bedrooms and a full bath – ideal for rental or personal use. The third floor is also vacant, boasting 2 commodious bedrooms, generous living space, and a full bath. Property is being sold strictly in "as-is" condition. Don’t miss this income-generating opportunity in a high-demand area!

Listing Agent

Ann Atherton

Coldwell Banker Residential Brokerage - Warren Listed on: 07/23/2025

Coldwell Banker Residential Brokerage - Warren

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,886

Year Built

  • Built in 1965

Lot Details

  • 1,102 Sq Ft Lot
  • Lot Dimensions are 18.10 x 61.00
  • Corner Lot
  • Property is in average condition

Property Views

  • Water
  • City

Home Design

  • Triplex
  • Flat Roof Shape
  • Rubber Roof

Interior Spaces

  • Walk-in Shower
  • 3,220 Sq Ft Home
  • Ceiling height of 9 feet or more
  • Ceiling Fan
  • Open Floorplan

Flooring

  • Wood
  • Carpet
  • Laminate
  • Tile or Brick

Parking

  • Public Parking
  • On-Street Parking

Schools

  • Dr. Martin Luther King Elementary School
  • Texas Avenue Middle School
  • Atlantic City High School

Utilities

  • Window Unit Cooling System
  • Heating System Uses Natural Gas
  • Electric Baseboard Heater
  • Natural Gas Water Heater
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 00062
  • Assessor Parcel Number 02-00345-00062

Community Details

Overview

  • 3 Units
  • 3-Story Building

Building Details

  • 1 Vacant Unit
  • Income includes apartment rentals
  • Gross Income $68,400
  • Net Operating Income $21,265

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,886

Year Built

Built in 1965

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Triplex
  • Structure Type: Over Storefront
  • Ownership: Fee Simple
  • Historic: No
  • New Construction: No
  • Year Built: 1965
  • Building Winterized: No
  • Remarks Public: Prime location near famous casinos and the boardwalk, featuring a restaurant, employee apartments, and untapped potential – a Triple-Level Gem! This is a fantastic opportunity for first-time homebuyers to live on the third floor and rent out the other two levels to potentially cover the mortgage, or for investors seeking strong rental income. The ground floor houses a well-established restaurant operating for over six years, adding great value. The second floor is now vacant and offers 3 spacious bedrooms and a full bath – ideal for rental or personal use. The third floor is also vacant, boasting 2 commodious bedrooms, generous living space, and a full bath. Property is being sold strictly in "as-is" condition. Don’t miss this income-generating opportunity in a high-demand area!
  • Special Features: None

Interior Features

  • Flooring Type: Hardwood, Carpet, Laminated, Tile/Brick
  • Interior Amenities: Bathroom - Stall Shower, Ceiling Fan(s), Combination Dining/Living, Combination Kitchen/Dining
  • Fireplace: No
  • Wall Ceiling Types: High, Dry Wall, 9'+ Ceilings
  • Room Count: 9
  • Basement: No
  • Total Sq Ft: 3220
  • Living Area Sq Ft: 3220
  • Price Per Sq Ft: 154.97
  • Above Grade Finished Sq Ft: 3220
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 2801

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Concrete
  • Exterior Features: Sidewalks, Street Lights
  • Road Surface Type: Black Top
  • Roof: Flat, Rubber
  • Spa: No
  • View: City, Street, Water
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: Yes

Garage/Parking

  • Garage: No
  • Parking Features: Public
  • Type Of Parking: On Street

Utilities

  • Central Air Conditioning: No
  • Cooling Type: Ceiling Fan(s), Window Unit(s)
  • Heating Fuel: Natural Gas Available, Electric
  • Heating Type: Baseboard - Electric
  • Heating: Yes
  • Hot Water: Natural Gas, Electric
  • Sewer/Septic System: Public Sewer
  • Utilities: Sewer Available, Water Available, Natural Gas Available, Electric Available, Cable Tv Available
  • Water Source: Public
  • Internet Services: Other

Condo/Co-op/Association

  • Association Recreation Fee: No

Schools

  • School District: ATLANTIC CITY SCHOOLS
  • Elementary School: DR. MARTIN LUTHER KING SCHOOL
  • Middle School: TEXAS AVENUE SCHOOL
  • High School: ATLANTIC CITY H.S.
  • Elementary School Source: Listing Agent
  • High School Source: Listing Agent
  • Middle School Source: Listing Agent
  • School District Key: 300200396906
  • School District Source: Listing Agent
  • Elementary School: DR. MARTIN LUTHER KING SCHOOL
  • High School: ATLANTIC CITY H.S.
  • Middle Or Junior School: TEXAS AVENUE SCHOOL

Lot Info

  • Lot Features: Corner
  • Lot Size Acres: 0.03
  • Lot Dimensions: 18.10 x 61.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 1102.00
  • Property Condition: Average
  • Soil Types: Unknown
  • Year Assessed: 2024
  • Zoning: NC-1

Rental Info

  • Existing Lease Type: Month To Month, Long Term
  • Ground Rent Exists: No
  • Number Of Units Month To Month: 1
  • Owner Pays: Insurance, Repairs, Sewer, Taxes - Real Estate
  • Rent Control: No
  • Total Actual Rent: 33600.00
  • Units Leased Count: 1
  • Vacation Rental: No

Multi Family

  • Number Of Units Vacant: 1
  • Gross Income: 33600.00
  • Gross Scheduled Income: 68400.00
  • Income Includes: Apartment Rentals
  • Other Units: Unit 1
  • Vacancy Allowance Rate: 66.67

Tax Info

  • Tax Annual Amount: 6886.00
  • Assessor Parcel Number: 02-00345-00062
  • Tax Lot: 00062
  • Tax Total Finished Sq Ft: 3220
  • County Tax Payment Frequency: Annually
  • Tax Year: 2024

MLS Schools

  • School District Name: ATLANTIC CITY SCHOOLS

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

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
2025 $6,887 $199,500 $41,200 $158,300
2024 $6,887 $199,500 $41,200 $158,300
2023 $7,535 $199,500 $41,200 $158,300
2022 $7,535 $199,500 $41,200 $158,300
2021 $7,783 $199,500 $41,200 $158,300
2020 $7,848 $199,500 $41,200 $158,300
2019 $12,749 $320,000 $100,000 $220,000
2018 $12,175 $344,600 $101,300 $243,300
2017 $11,789 $344,600 $101,300 $243,300
2016 $13,302 $344,600 $101,300 $243,300
2015 $11,792 $344,600 $101,300 $243,300
2014 $11,537 $344,600 $101,300 $243,300
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/23/2025 07/23/25 For Sale $499,000 -- $155 / Sq Ft
Source: Bright MLS

Purchase History

Date Type Sale Price Title Company
Deed -- None Listed On Document
Source: Public Records

Source: Bright MLS

MLS Number: NJAC2019880

Bright MLS

APN: 02-00345-0000-00062

New Jersey Atlantic County Atlantic City 08401 Chelsea

2801 Arctic Ave, Atlantic City, NJ

This home is located at 2801 Arctic Ave, Atlantic City, NJ 08401 and is currently priced at $499,000, approximately $154 per square foot. This property was built in 1965. 2801 Arctic Ave is a home located in Atlantic County with nearby schools including Brighton Avenue School, Atlantic City High School, and Our Lady Star of the Sea Regional School.

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Listing Agent
Ann Atherton
Section Image
Coldwell Banker Residential Brokerage - Warren
(609) 908-4776