Property Info

Zetabid is accepting 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.

  • 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