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Barbara Varacalli

Barbara Varacalli 609-602-4706 609-399-0076x120

3160 Asbury Avenue, Ocean City

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For Sale 3 Raleigh Ave, Atlantic City, NJ, 08401

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3 Raleigh Ave, Atlantic City, NJ, 08401 Main Picture 3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture3 Raleigh Ave, Atlantic City, NJ, 08401 Aditional Picture

3 Raleigh Ave, Atlantic City, NJ, 08401

$850,000

Barbara Varacalli
  • Buyer Agent Compensation: N/A
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CASH FLOWING 5-UNIT APARTMENT BUILDING only a couple of blocks from the Beach on the Ventnor side of Atlantic City! Instant cash flow in a great area of the City where your occupancy rate will be incredibly high with the proximity to the water and other amenities. All CCOs & 5 year state inspection are in hand. Owner recently made major updates to the property and increased rents to market rent, making this a turnkey opportunity for your portfolio. The 2 units in the photos were empty at the time photos were taken, but will be filled prior to settlement. The other 3 units are currently filled and are of similar condition. The pro forma rent roll is $103,200.00 annually in gross rent revenue, $8,600.00 per month. Tenants pay their own electric. Owner pays Insurance, Taxes, Water/Sewer, and Gas. Pro Forma NOI comes to $76,333.00, making the pro forma Cap Rate 8.98% at the listing price, phenomenal for a property this close to the ocean! This property\'s appreciation value proposition is immense due to its proximity to Ventnor Beach, Stockton University, and Richmond Avenue School in AC. Enjoy the prospect of cash flow on day 1, high occupancy rates, and appreciation potential that this property offers.

Listing courtesy of: DEPALMA REALTY
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional Multiple Listing Service. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Information is deemed to be accurate but not guaranteed. Copyright South Jersey Shore Regional Multiple Listing Service. All rights reserved.
Total Rooms
Full Bath 0
# of Stories
Year Build
Lot Size
Tax 9493.00
SQFT
ParkingGarageDetached Garage
CoolingWall Units
WaterPublic
Bedrooms 0
Half Bath 0
# of Stories
Lot Dimensions
# Units 4 - 10 Units
Tax Year 2024
Area Atlantic City
HeatingRadiator
HotWaterGas
SewerPublic Sewer
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