14 Unit Apartment Building | 100% Occupied | Atlantic City, NJ

Property Info

Zetabid is pleased to present this 14-unit apartment building for sealed bid auction. Located in Atlantic City, this historically 100% occupied property is close to public transportation and only a few minutes walk to the beach. The cap rate at the opening bid is 9.5% with the current rent roll and financials available for review in our Due Diligence Vault. Roof was resealed in June 2019 and new exterior paint in September 2019. Please visit Zetabid.com for details.

*At the opening bid

  • City : Atlantic City
  • State : NJ
  • Zip Code : 08401
  • Property Type : Multi-family
  • Square Feet : 7435
  • Lot Size : .11 AC
  • Year Built : 1930
  • Gross Rents PF 2019 : $118,548
  • Expenses PF 2019 : $56,884
  • NOI PF 2019 : $61,664
  • Cap Rate* : 9.5%
  • GRM* : 5.48
  • Price/Unit* : $46,357
  • Occupancy : 100%
  • Unit Mix: : (2) 2 Bed +1 Bath | (7) 1 Bed + 1 Bath | (5) Studio + 1 Bath
  • Stories | Parking : 2 | Street
  • Zoning : RS-C
  • Property ID : 02-00022-0000-00002
Status:Active
Starting Bid: $649,000
    Auction Start: 10/14/2019 9:00 am
    Auction End: 10/17/2019 4:00 pm
    • Time Zone :EST
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    Important Information

    • Buyers Premium :5%
    • Broker Coop :2%
    • Financing :No
    • Inspection Contingency :Yes
    • Showings :Call Eric Koesterer @ 818.426.2660

    Auction Contact

    Broker Contact

    • Phone :(424) 888-6068