Short Term Beach Housing/Former Hotel | Atlantic City, NJ

Property Info

Zetabid is accepting post auction offers on this asset in Atlantic City. Currently being operated as single room occupant boarding house (one month minimum term) and located only a few minutes from the beach, this property maintains a seasonally adjusted occupancy rate of 90% and has multiple redevelopment possibilities (Opportunity Zone). There is an additional 3,500 SF vacant retail space on the ground floor previously operated as a bar. Please visit our Due Diligence Vault for additional details. Additional parking lot behind the subject/auction property also available separately for sale.

*Offered price includes Buyer's Premium.

  • City : Atlantic City
  • State : NJ
  • Zip Code : 08401
  • Property Type : Other
  • Square Feet : 15240
  • Lot Size : .11 AC
  • Year Built : 1925
  • Year Renovated : 2001 | Exterior Paint 2018
  • Retail Space : 3,500 SF | Ground Floor
  • Gross Income PF 2019 : $268,770
  • Expenses PF 2019 : $103,275
  • NOI PF 2019 : $165,495
  • Cap Rate : 11.9%
  • GRM : 5.19
  • Price/Unit : $33,214
  • Occupancy : 90% (Seasonally Adjusted)
  • Rooms | Baths : 42 | 5
  • Stories : 4
  • Zoning : RS-C
  • Parcel ID : 02-00053-0000-00017
Status:Active

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