400 North Massachusetts Avenue

Atlantic City, NJ 08401

$160,000
Last Sold Price
Beds
2,697 Sq. Ft.
$59 / Sq. Ft.
2,697
Sq. Ft.
$59
per Sq. Ft.

Description

Great mixed-use investment located in Bungalow Park and across from the bay! This corner property consists of two units: One commercial store rents $1,775 per month ( tenant pays half of the water) and is currently on time. The lease is "month/month" (ends December 2023), and has current tenant has occupied the unit since 2016. Upstairs needs updating and is a large two-story 3 Br 1BA with lots of space and can rent for $1,600-$1,700 per month depending on finishes. The main roof is rubber and approx....Great mixed-use investment located in Bungalow Park and across from the bay! This corner property consists of two units: One commercial store rents $1,775 per month ( tenant pays half of the water) and is currently on time. The lease is "month/month" (ends December 2023), and has current tenant has occupied the unit since 2016. Upstairs needs updating and is a large two-story 3 Br 1BA with lots of space and can rent for $1,600-$1,700 per month depending on finishes. The main roof is rubber and approx. 10 yrs, rear and front porch roof one year. Property is being sold strictly "AS IS," and the price reflects the condition. Contents of the commercial store belong to the tenant and are not included in the sale. $1,751 Cash flow, 20.26% COC ROI (based on 5% vac, 5.5% int, and $50,000 repairs upstairs unit), 17.48 cap rate.
  1. Listed by Georgeanna Tracey Newmones • EXP Realty, LLC
    P: 6099448809 georgeanna.newmones@exprealty.com

Property Details for 400 North Massachusetts Avenue

Tax ID Number
02-00550-00008
Ownership
Fee Simple
Structure Type
Over Storefront
Style
Traditional
Waterfront
No
Garage
No
Municipality
ATLANTIC CITY
Total Parking Spaces
0

Location

Listing Courtesy of EXP Realty, LLC

Sold By Executive Realtors

Add your commute
LISTING UPDATED: 04/04/2023 01:10 PM

Property Details for 400 North Massachusetts Avenue

StatusClosed
MLS #NJAC2001024
Days on Market145
Taxes$5,991 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti-Family / Fee Simple
Year Built1930
Lot Size0.03 AC / 1,250 SF
CountyAtlantic County

Location

Listing Courtesy of EXP Realty, LLC

Sold By Executive Realtors

Add your commute

Building Information for 400 North Massachusetts Avenue

Stories-Residences2Year Built1930Building Size-Lot Size0.03 AC / 1,250 SF

Payment Calculator

$1,372 per month

30 year fixed, 7.25% Interest

Principal and Interest

$873

Property Taxes

$499

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 400 North Massachusetts Avenue

Location
Location
  • School District Name: ATLANTIC CITY SCHOOLS
  • School District County ID: 300200396906
  • SchoolDistrictSource: Listing Agent
  • County: ATLANTIC
  • MLS Area: Atlantic City (20102)
Waterfront / Water Access
Waterfront / Water Access
  • Water View: No
  • Water Access: No
  • Water Oriented: No
  • Navigable Water: No
  • Tidal Water: No
  • Riparian Rights Y/N: No
Association / Community Info
Association / Community Info
  • Type of Condo
Taxes and Assessment
Taxes and Assessment
  • Tax Year: 2021
  • Tax Assessed Value: $153,600
  • Year Assessed: 2021
  • Improvement Assessed Value: $116,100
  • Land Assessed Value: $37,500
  • Clean Green Assessed: No
  • Land Use Code: 0
  • Zoning: R-1
  • Tax Lot: 00008
  • Automatically Update Tax Values Y/N: Yes
  • TaxDataUpdatedYN: No
Lease Information
Lease Information
  • Concessions: No
Unit Information
Unit Information
  • Single Room Units Count: 0
  • One Bedroom Units Count: 0
  • Two Bedroom Units Count: 0
  • Three Bedroom Units Count: 1
Building Info
Building Info
  • Building Units Total: 2
  • Total Finished SQFT: 2,697.00
Lot / Land Information
Lot / Land Information
  • Lot Size Source: Assessor
  • Lot Size Dimensions: 25.00 x 50.00
  • Lot Dimensions Source: Assessor
  • Road Frontage Length: 25.00
  • Parcel ID: 3307354
Parking
Parking
  • Type Of Parking: None
Interior Features
Interior Features
  • Fireplaces Count: 0
  • Accessibility Features: None
Exterior Features
Exterior Features
  • Pool: No Pool
  • Other Structures: Above Grade, Below Grade
Utilities
Utilities
  • Heating: Yes
  • Cooling Type: None
  • Cooling Fuel: None
  • Heating Type: Radiator
  • Heating Fuel: Natural Gas
  • Hot Water: Natural Gas
  • Water Source: Public
  • Sewer Septic: Public Sewer

Property History for 400 North Massachusetts Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 400 North Massachusetts Avenue

Taxable ValueLand$37,500Additions$116,100Total$153,600
Tax Record2022$5,801 ($483 / month)
Home Facts
Total Finished SqFt2,697 SqFtAbove Grade Finished SqFt2,697 SqFtStories3Lot Size1,250 SqFtStyleMiscellaneous CommercialYear Built1930ZoningR-1CountyATLANTICAPN02 00550-0000-00008

Schools near 400 North Massachusetts Avenue

This home is within Atlantic City Public School District.
Rating
School
Type
Grades
Distance
Public - PK to 8
Public - 9 to 12
Rating
School
Distance
Uptown School Complex Elementary School
PublicPK to 8

Atlantic City High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Listing Courtesy of EXP Realty, LLC

Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.