Commercial > Other
Active
10/27/2023
List Price
$475,000
1637 Atlantic Ave
Atlantic City, NJ 08401
- -Bed
- 4Baths
- 4,602ft²Living Area
- 2,213ft²Lot Size
- -Pool
- -Car
- 1930Year Built
- 474DOM
- -Permit
1637 Atlantic Ave, Atlantic City, NJ 08401 is a 4 bath, 4,602 ft² property built in 1930 on a 0.051 acre lot. This property is currently listed for $475,000, and it was last sold in 2022 for $250,000.
MLS Description
The listing agent's description. Original Listing
10.6% CAP RATE!! INVESTOR ALERT - Turnkey Cash Flowing Commercial Mixed Use property! Located next to the new development site of a 125,000 Square foot agricultural museum. This Mix-use property consists of approximately 4,602 sq.ft. with a store front and 2 apartments. All units have separate gas and electric. First Floor is a Commercial storefront with 2 private bathrooms. The commercial space is approximately 2,200 square feet. Apartment 1 has Three bedrooms with newly painted walls and carpet with a large private back deck. Apartment 2 is a two-level fully renovated/remodeled Two bedroom with Den/extra sleeping area. Also comes with a very large private deck off the kitchen. New Kitchen, Flooring, lighting, paint, doors, and all new trim. Located in the heart of it all!!! Close to the Atlantic City Hospital, Casinos, beach and boardwalk. Convenient location for Casino or Hospital workers!!! Annual NOI of $50,250 putting this listing at a 10.6% cap rate!! Rental Income: Storefront $2,500 or $30,000 per year with annual rent increase on a 10-year lease; Apartment One $1,650 or $19,800 per year; Apartment two $1,650 or $19,800 per year. Total annual income of $69,600. Annual Expenses: Water & Sewer $1,100.00 per year; Insurance $4,500 per year; Property Tax $8,750; Misc $5,000 per year.
Listing Agents
The listing agent for 1637 Atlantic Ave is DONNA PALAZZO-BURNSIDE.
DP
DONNA PALAZZO-BURNSIDE
BALSLEY/LOSCO-VENTNOR
License: SP-9483358
Phone: (609) 646-3207
Current Ownership
Information about the current owner(s).
Taxes Billed
Taxes billed in 2022$8,781.53From latest Total Assessed Value3.78%Total Assessed Value$232,500=Land+
Assessed Value$68,800Additions
Assessed Value$163,700
In 2022, taxes billed for 1637 Atlantic Ave were $8,781.53, which is 3.78% from latest Total Assessed Value of $232,500.
Property History
1637 Atlantic Ave has undefined property events records (listings, deeds, permits, tax, foreclosure, loan).
Property Events
Environment
Environmental factors around 1637 Atlantic Ave
Hazard Risks
Hurricane175Carb Mono153Air Pollution117Ozone116Lead110Weather107Nat'l Avg100Particulates97Wind94Earthquake43Hail36Tornado25
12 hazards (Carbon Monoxide, Earthquake Risk, Hail Index, Tornado Index, Hurricane Index, Air Pollution Index, Ozone Index, Wind Index, Weather Risk, Lead Index, Particulate Matter, National Average) are above the national average around 1637 Atlantic Ave.
Walkability Index
19 /20
Most Walkable
20-18
Very Walkable
17-15
Somewhat Walkable
14-10
Car Dependent
9-0
1637 Atlantic Ave has a walkability score of 19 out of 20, which means that it is in a most walkable area.
Temperature
Seasonal temperature sampled over multiple years
Winter
Average
Low
29°F
High
43°F
Summer
Average
Low
66°F
High
80°F
In the winter at 1637 Atlantic Ave, temperatures range from 28.52°F to 43.22°F with an average of 35.87°F. In the summer, the temperature ranges from 65.73°F to 79.58°F with and average of 72.66°F.
School Information
Public/private schools serving 1637 Atlantic Ave
Public Schools
New York Avenue School
Grades: PK-8
0.48 mi
D+
Atlantic City High School
Grades: 9-12
2.46 mi
D-
* The school rating is based entirely on the test score performance of each school. It is based on a scale of A-F, A being best.
Nearby public schools serving 1637 Atlantic Ave have ratings undefined, and undefined.
Neighborhood
This property is located in Downtown, Atlantic City, NJ 08401.
Seasonal Housing units 08401
41%of housing is for seasonal rent.
Daytime Population for 08401
+58%of people during work hours.
Boundary map of Downtown.
Crime Index for 08401
162
162
The crime index in 08401 is 162, which is 1.6 times higher than national average.
Market Trends
Historical market data near 1637 Atlantic Ave over selected time period.
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