25 S Congress Ave , Atlantic City NJ

$1,100,000 | $5,069 / Month*

MLS #560224



Appliances/Equipment: Electric Stove, Refrigerator, Self Cleaning Oven
Garage/Parking: None
Property Location: Boardwalk Area, Water View
Foreclosure: No
Exterior Construction: Vinyl
Exterior Features: Curbs, Ocean View, Sidewalks, Sprinkler System
Location: Boardwalk Area, Water View
Exterior Features
Construction: Vinyl
Heating: Baseboard, Electric
Sewer Type: Public Sewer
Units Information
Units: 10

Turn Key 10 Unit Apartment Building fully occupied with long term tenants on month to month leases - Investor Alert - 29% Projected Cap-Rate as an AirBnB - 1 Block to the new Showboat Waterpark! EVERYTHING WAS NEW IN THIS BLDG as of 2014!!! Fully renovated 10 unit apt bldg. Features four 1bdrms, four 2bdrms, & two 3bdrms. Without a doubt the nicest 10 unit bldg for sale in the city. Current income & expenses, 2022 fair market rent pro-forma, & AirBnB Pro-forma are all available to qualified buyers only. Ideal location between Atlantic and Pacific Aves in the up and coming AC Inlet. Walking distance to the Beach and Boardwalk, Hard Rock & Ocean Resort Casino, The Showboat, Absecon Lighthouse, Historic Gardner's Basin, Atlantic City Aquarium, & the Inlet. All public transportation is available half a block away in either direction. Every single thing on this building was replaced in 2014 including the roof, windows, siding, fire escape, sprinkler system, sheetrock, mold resistant drywall, framing, insulation, vents, flooring, tile, kitchens, bath, tubs, appliances, water heaters, fire monitoring system, sinks, garbage disposal, gas lines, water lines, sewer lines, drain lines, plumbing, electric, and utilities. Collect rents with no major ongoing repairs, low taxes & low flood ins. Perfect for 1031 tax exchange AirBnB, VRBO, short term or annual rental investment property. (Two lots also available to purchase as a package deal MLS# 506991 & 506990, 7 & 11 S Congress. 4445 SQFT)

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