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Key Details
Sold Price $999,000
Property Type Commercial
Sub Type Five Or More Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID NJAC2011280
Sold Date 08/28/24
Originating Board BRIGHT
Year Built 1966
Annual Tax Amount $8,351
Tax Year 2022
Lot Dimensions 58.13 x 118.20
Property Description
Welcome to an exciting opportunity to own a multi-family property with endless potential for a savvy investor like you. This charming and well-maintained building with six spacious units is waiting for you to make it your own. All tenants are month-to-month, leaving you with the flexibility to renovate or convert the units to your liking. The property is currently generating $80k, but with some rents not being aligned with market value, there is plenty of room for growth. As an investor, you have the potential to increase revenue and maximize profits by adjusting rents or converting the units to condominiums. Located in the heart of town, with off-street parking, the property is surrounded by local shopping and dining options that are sure to please your tenants. Additionally, the property's proximity to the beach provides an opportunity for residents to enjoy a beach-centric lifestyle and enhance their overall quality of life. Investing in this property means investing in a prime location and a significant opportunity for substantial returns. With a little bit of creativity and effort, you can turn this property into a profitable investment that meets your unique needs and style. Don't wait to take advantage of this rare opportunity to own a multi-family property with endless potential. Buyers are responsible for all due diligence with the city for zoning and approvals. The front bottom unit is zoned commercial***Crossed listed with MLS 581780
Location
State NJ
County Atlantic
Area Brigantine City (20103)
Zoning B1
Interior
Hot Water Multi-tank, Natural Gas
Heating Forced Air
Cooling Ceiling Fan(s), Central A/C, Multi Units, Window Unit(s)
Flooring Carpet, Laminated, Vinyl
Heat Source Natural Gas
Exterior
Garage Spaces 4.0
Water Access N
View Street, Bay, Other
Roof Type Shingle
Street Surface Alley
Accessibility None
Total Parking Spaces 4
Garage N
Building
Foundation Crawl Space
Sewer Public Sewer
Water Public
New Construction N
Schools
School District Brigantine City Schools
Others
Tax ID 03-02906-00008
Ownership Other
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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