400 N Massachusetts Ave , Atlantic City NJ

$169,900 | $783 / Month*

MLS #555251



Garage/Parking: Off Street
Property Location: Bay Front, Corner
Foreclosure: No
Design: Comm. w/Apartments
Basement: Slab
Location: Bay Front, Corner
Exterior Features
Construction: Brick, Vinyl
Heating: Gas-Natural
Sewer Type: Public Sewer

Great investment located in Bungalow Park and across from the bay!! This corner property consists of two units: One commercial store rents $1,700 per month ( tenant pays half of the water) and is currently on time, lease is "month/month" and has occupied the unit since 2016. Upstairs needs updating and is large two-story 3 Br 1BA with lots of space and can rent for $1,600-$1,700 per month depending on finishes. Property is being sold strictly "AS IS," and the price is reflective of the condition. Contents of the commercial store belong to the tenant and are not included in the sale—possible owner financing with 30% down (short term). $1,730 Cash flow, 19.77% COC ROI (based on 5% vac, 5.5% int, and $50,000 repairs upstairs unit), 16.98 cap rate.

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