Remarks

This is a coming soon listing and can't be shown until Sunday, 5/4. Just two blocks from the ocean and boardwalk, this fully leased income-producing property offers strong cash flow and long-term growth potential. The building features four spacious residential units and a commercial storefront. Each apartment includes a comfortable living area, a full kitchen, generously sized bedrooms, and carpeting throughout. The landlord covers heat and hot water, while tenants are responsible for their own gas and electric, helping to minimize owner expenses and stabilize net income. The current rent roll includes a commercial space generating $1,575 per month, plus a share of utilities and water/sewer. The residential units are rented as follows: Apartment 1 at $1,350 per month, Apartment 2 at $1,200 per month, Apartment 3 at $1,500 per month, and Apartment 4 at $1395 per month. With all apartments individually metered and a desirable location close to shopping, restaurants, entertainment, and public transportation, this property is well positioned to attract and retain quality tenants.

This is an excellent opportunity to acquire a strong cash-flowing asset in one of the area's most sought-after coastal markets.

Details

MLS#: 22512315
Price: $700,000

Style: Commercial
Sq Ft: 4464
Year Built: 1930

County: Atlantic
Lot Size: 24.45 x 76.2
Tax Fee: 9969