$5,938 Closing Credit¹
#593029, Listing Office: Soleil Sotheby's International Realty - A
$475,000 List price
1637 Atlantic Ave Atlantic City, NJ 08401
$5,641
Closing credit¹
4,602 sqft
$103 / sqft
Multi-Family
Property details
About 1637 Atlantic Ave
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.
Highlights
Home typeDuplex
HeatingNatural Gas, Other
StatusActive
Size4,602 sqft
MLS #580707
WaterfrontSee Remarks
ViewSee Remarks
Summary
- MLS Number: 580707
- Office Name: BALSLEY/LOSCO-VENTNOR
- Office Phone: (609) 822-9615
Disclaimer: 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 (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2025 SJSR MLS. All rights reserved.
The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Properties subject to prior sale, change, withdrawal or rental.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/15/2025, 3:20:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$475,000
1637 Atlantic Ave
$5,641
closing credit¹
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Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Mar 10, 2022 | Home Sold | $250,000 |
| Feb 06, 2004 | Home Sold | $180,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $232,500 | $8,288 |
| 2022 | $232,500 | $9,069 |
| 2021 | $232,500 | $9,069 |
| 2020 | $232,500 | $9,146 |
| 2019 | $235,000 | $9,362 |
History based on county public records data.
Nearby schools
3
Brighton Avenue School
Public District PK-5
1.0 mi
•30 N Brighton Ave
8
Ventnor Elementary School
Public District PK-4
3.7 mi
•400 N Lafayette Ave
9
William H. Ross III Elementary School
Public District PK-4
4.3 mi
•101 N Haverford Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $23,279. Most Atlantic City, NJ residents have annual incomes less than $<35k. The majority of families are single, no kids. The majority of residents in this area have high school diploma education.
How much money do the neighbors make?
75%
<35k
21%
35k-100k
4%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
62%
Single, No Kids
16%
Single, with Kids
17%
Married, No Kids
5%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
11%
<11 yrs old
4%
12-17 yrs old
21%
18-34 yrs old
55%
35-64 yrs old
9%
65+ yrs old
What do the neighbors do for fun?
Figure Skating
UFC- Pro Boxing
Where do the neighbors shop?
Family Dollar
Chico's
Burlington
Where do the neighbors go to eat?
Church's Chicken
Bob Evans
Burger King
What do the neighbors drive?
Cadillac
Oldsmobile
Buick
What do the neighbors listen to?
Jazz
News
Urban Contemporary
All data provided by Home Junction and Claritas
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This home is located at 1637 Atlantic Ave in Atlantic City, NJ and zip code 08401 in the Downtown neighborhood. Features: 0 bathroom. It has been listed on Rocket Homes since December 23, 2023 and is currently priced at $475,000.
In February 2025 more than 5 listings in Atlantic City, NJ were sold above the asking price. During the same period more than 5 listings were sold at asking price, while more than 13 were sold below. In February 2025 in Atlantic City, NJ there were 7.9% more homes for sale than in January. In February 2025, listings were on the market for 68 days. During the same period, the median list price in this real estate market was $240,000.
From Rocket Homes Real Estate and based on county public records data.