Do Real Estate on the Go!
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Do Real Estate on the Go!
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$3,800,000
-- Bed
-- Bath
37,673sqft
2722 Atlantic Ave, Atlantic City, NJ 08401
$3,800,000
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Multi Family
Built in 1930
$-- HOA
0.25 acre lot
$101/sq.ft
Description
Prime investment opportunity in the heart of Atlantic City! Located at the corner of Atlantic and South Iowa Avenues , this 38-unit mixed-use elevator building sits immediately adjacent to the Tropicana Atlantic City, capturing incredible foot traffic. The 37,673 SF property features 32 residential units and 6 ground-floor retail storefronts. It currently generates a strong 8.60% cap rate on as-is NOI, with a clear path to a 9.55% pro forma cap rate. There is excellent value-add potential through the immediate lease-up of three vacant residential units, rent-control leniency on tenant turnover, and a gas-to-electric heat conversion opportunity. Asking price is $4,100,000.
- Houzeo last checked: 48 minutes ago
- Listing updated: May 17, 2026 at 2:35 pm
- Listing Provided by: Michael Brooke (732) 905-5511 | Imperial Real Estate Agency
- Source: Monmouth Ocean Regional MLS-NJ | MLS#: 22612953
Property Details
Status
Active
Type
Multi Family
No. of Stories
5
County
City
Neighborhood
Year Built
1930
HOA Fees
-
Finished Area
37,673 sqft
Lot Size
0.25 acre lot
Basement Area
- sqft
MLS Name
Monmouth Ocean Regional MLS
MLS Number
22612953
MLS Status
Active
Days on Market
66
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Houzeo Corp. holds real estate brokerage licenses in Alabama (License No. 000157023 - 0) and Texas (License No. 9013396)
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New York State Fair Housing Notice.
