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For Sale 33 Metropolitan Ave, Atlantic City, NJ, 08401

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33 Metropolitan Ave, Atlantic City, NJ, 08401 Main Picture

33 Metropolitan Ave, Atlantic City, NJ, 08401

$300,000

Lori McCloskey
  • Buyer Agent Compensation: N/A
  • 2 in 1 PDF flyer DOWNLOAD
  • Single Family

  • 4

  • 2

LOCATION, LOCATION, LOCATION! INVESTOR ALERT! This single-family property in Atlantic City is just two blocks from the Boardwalk and Ocean Casino Resort, and right across from the Absecon Lighthouse. The two-story property consists of four-bedrooms and two-bathrooms on the right side, and one-bedroom with one-bath on the left. With some vision and TLC, this can be transformed into something special. This is the last area being redeveloped and you have the chance to be part of it. This property could be a great Duplex, Airbnb or a rental for casino employees. If you\'re a fan of the beach and ocean, this could be your perfect first or second home! Opportunities like this are rare, and land like this isn’t being made anymore. Schedule your tour today!

Listing courtesy of: Your Home Sold Guaranteed-Nancy Kowalik Group
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 4
Full Bath 2
# of Stories
Year Build
Lot Size 1 to 5 Acres
Tax 3417.00
SQFT
ParkingGarageNone
CoolingCentral
SewerPublic Sewer
Bedrooms 4
Half Bath 0
# of Stories
Lot Dimensions
# Units
Tax Year 2024
Area Atlantic City
HeatingGas-Natural
WaterPublic
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**ATTENTION INVESTORS** Located at the Jersey Shore, in a prime area of Atlantic City we have a **FULLY RENOVATED** **FULLY OCCUPIED** mixed-use commercial property offering an excellent **TURNKEY** investment opportunity. The building features (4) well-maintained units, including (3) residential apartments and (1) leased commercial space on the first floor. Recent updates include a **BRAND NEW ROOF** and extensive renovations to **ALL MAJOR SYSTEMS** within the past two years, minimizing future maintenance costs. **APARTMENT 1** consists of 1-bedroom (plus a den) and 1-bath on the first floor, rented for $1,200/month on a month-to-month lease. **APARTMENT 2** is a 2-bedroom, 1-bath on the second floor, rented for $1,450/month on a yearly lease due for renewal October 2025. **APARTMENT 3** is a 2-bedroom, 1-bath on the third floor, rented for $1,400/month on a yearly lease that was just renewed February 2025. The **COMMERCIAL SPACE** is leased to a 24/7 take-out restaurant for $2,100/month on a 5-year lease (exp. April 2029), with a guaranteed 5% rent increase per year! With a **TOTAL GROSS INCOME OF $73,800** and a **NET OPERATING INCOME (NOI) OF $62,338**, this property presents a solid **9.24% CAP RATE** at the current asking price. The building’s operating expenses include taxes of $4,902/year, insurance at approximately $5,000/year, and sewer/water costs shared equally with the commercial tenant, totaling around $1,200/year for the owner. Additionally, electric and gas are separately metered for each unit, with tenants also responsible for heat and hot water. The property is strategically located in a high-traffic area of Atlantic City, just minutes from the iconic Atlantic City Boardwalk, world-class casinos, and entertainment venues. It’s an optimal location for long-term growth, with proximity to major highways and public transportation, making it a highly desirable area for both residential tenants and commercial ventures. With a thriving tourism industry and a growing demand for housing and retail in Atlantic City, this property represents a unique opportunity to own a fully-renovated, fully occupied, income-generating asset in one of New Jersey’s most dynamic markets. Contact us today to schedule a private showing or for more information!

Property 2

325 Atlantic, Atlantic City

  • 0

  • 0.0

  • $675000