Estimated payment $3,714/month
**ATTENTION INVESTORS** Located at the Jersey Shore, in a prime area of Atlantic City we have a **FULLY RENOVATED** **FULLY OCCUPIED** mixed-use property offering an excellent **TURNKEY** investment opportunity. The building features (4) well -maintained units, including (3) residential apartments and (1) leased commercial space on the first floor. Recent updates include a **BRAND NEW ROOF** and extensive renovations to **ALL MAJOR SYSTEMS** within the past two years, minimizing future maintenance costs. **APARTMENT 1** consists of 1-bedroom (plus a den) and 1-bath on the first floor, rented for $1,200/month on a month-to-month lease. **APARTMENT 2** is a 2-bedroom, 1-bath on the second floor, rented for $1,450/month on a yearly lease due for renewal October 2025. **APARTMENT 3** is a 2-bedroom, 1-bath on the third floor, rented for $1,400/month on a yearly lease that was just renewed February 2025. The **COMMERCIAL SPACE** is leased to a 24/7 take-out restaurant for $2,100/month on a 5-year lease (exp. April 2029), with a guaranteed 5% rent increase per year! With a **TOTAL GROSS INCOME OF $73,800** and a **NET OPERATING INCOME (NOI) OF $62,338**, this property presents a solid **9.97% CAP RATE** at the current asking price. The building’s operating expenses include taxes of $4,902/year, insurance at approximately $5,000/year, and sewer/water costs shared equally with the commercial tenant, totaling around $1,200/year for the owner. Additionally, electric and gas are separately metered for each unit, with tenants also responsible for heat and hot water. The property is strategically located in a high-traffic area of Atlantic City, just minutes from the iconic Atlantic City Boardwalk, world-class casinos, and entertainment venues. It’s an optimal location for long-term growth, with proximity to major highways and public transportation, making it a highly desirable area for both residential tenants and commercial ventures. With a thriving tourism industry and a growing demand for housing and retail in Atlantic City, this property represents a unique opportunity to own a fully-renovated, fully occupied, income-generating asset in one of New Jersey’s most dynamic markets. Contact us today to schedule a private showing or for more information!
Home Type
Est. Annual Taxes
Year Built
Lot Details
Home Design
Utilities
Additional Features
Community Details
| 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 | $4,747 | $137,500 | $40,700 | $96,800 |
| 2023 | $5,193 | $137,500 | $40,700 | $96,800 |
| 2022 | $5,193 | $137,500 | $40,700 | $96,800 |
| 2021 | $5,364 | $137,500 | $40,700 | $96,800 |
| 2020 | $5,409 | $137,500 | $40,700 | $96,800 |
| 2019 | $6,852 | $172,000 | $47,200 | $124,800 |
| 2018 | $6,077 | $172,000 | $47,200 | $124,800 |
| 2017 | $5,884 | $172,000 | $47,200 | $124,800 |
| 2016 | $7,566 | $196,000 | $100,000 | $96,000 |
| 2015 | $6,707 | $196,000 | $100,000 | $96,000 |
| 2014 | $6,562 | $196,000 | $100,000 | $96,000 |
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/02/2025 06/02/25 | For Sale | $599,000 | -- | -- |
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Bargain Sale Deed | $295,000 | Fidelity National Title | |
| Bargain Sale Deed | $160,000 | South Jersey Settlement Agcy | |
| Interfamily Deed Transfer | -- | -- |
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $206,000 | Future Advance Clause Open End Mortgage | |
| Previous Owner | $360,000 | Commercial |
$699,990
A practical new TRIPLEX .This grand old Duchess of a home sits on a beautiful wide avenue, Iowa Ave. It is just 2.5 blocks to the world famous Atlantic City Board walk and beach. Great restaurants, shopping and Casino action are just a short stroll away. We have given this grand old lady a total make over....All brand new floors, windows, and beautiful bathrooms. The kitchen features all
Kenneth Robinson BHHS FOX and ROACH-Margate
$509,000
Located just 2 blocks from the Boardwalk and beach in the sought-after Uptown Inlet area of Atlantic City, this fully furnished duplex is a turnkey investment with immediate rental income potential. The Inlet section of Atlantic City is awaiting an exciting project that was approved for the development of a new residential community with townhouses near the Boardwalk, and this property is in the
Ashley Stewart FASANO REALTY
$559,900
**Listing Attention:** This property presents a unique opportunity to own a beautiful duplex in a prime beach block location. You can either develop a trophy property with stunning panoramic waterfront views or retain the existing structure and upgrade it for substantial income through Airbnb rentals. This property is legally zoned as a duplex, allowing for extra income generation. You can occupy
Goran Cedevski BHHS FOX and ROACH-Northfield
$579,900
Listing Alert: This property presents a unique opportunity to own a beautiful duplex in a prime beach block location. You can either build a trophy development with stunning panoramic waterfront views or keep the existing property and upgrade it for a phenomenal income through Airbnb rentals. This property is legally zoned as a duplex, providing the opportunity to generate extra income. You can
Goran Cedevski BHHS FOX and ROACH-Northfield
$469,000
This mixed-use property that masterfully blends sophisticated residential living with modern commercial functionality. Spanning three additional lots, this exceptional building is anchored by a pristine three-story apartment and a first-floor office space offering a perfect balance of luxury and practicality. The apartment is a showcase of meticulous craftsmanship, featuring beautiful hardwood
MARTIN HAMSON A C LANDMARK LLC
$499,900
Great Opportunity in Atlantic City - Triplex with Commercial use below. Here is a chance to own a 2 car garage with office space and full bathroom on Fairmount Ave close to the Walk and Convention Center. There is also 3 units that are Two bedroom 1 bathroom each. Residence is currently occupied by the seller's family. Garage and office space if not currently occupied. The property is being
DOUGLAS KURTZ BHHS DIVERSIFIED REALTY
$749,900
The Grand Dame of Atlantic City! Outstanding investment opportunity with strong cash flow. This fully licensed and fully rented property features 9 rentable rooms, 1 efficiency unit, a 2-bedroom apartment, and an owner’s office. Over $50,000 in recent renovations. Centrally located—just minutes from casinos, the boardwalk, public transportation, and shopping. Priced to sell—don’t miss this
Jeff Quintin eXp Realty - Ocean City S382K
$499,000
Incredible investment opportunity with this renovated triplex, offering three identical units—each featuring 3 spacious bedrooms and 1 modern full bath. The units have been tastefully updated with hardwood flooring, fresh paint, kitchen cabinets, and appliances, along with a sleek, contemporary bathroom complete with a tub/shower combo. Each unit provides a bright and comfortable layout, perfect
Paula Hartman BHHS FOX and ROACH-Margate
$599,000
~BEACH BLOCK TRIPLEX~ MOTIVATED SELLER!! Fantastic investment opportunity! Well-maintained triplex right in the heart of Atlantic City, between Boardwalk Hall and the Tropicana Casino, just seconds to the beach! Enjoy easy access to the boardwalk, casinos, public transit, and local attractions. With 3 rental apartments, this property provides great potential for rental income or
Jacquelin Lyons MARCHESE REAL ESTATE, LLC
Source: South Jersey Shore Regional MLS
MLS Number: 596882
APN: 02-00124-0000-00062
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