3809 Ventnor Ave, Atlantic City, NJ 08401
sale
$1,995,000
|
Other
Courtesy Of eXp, Realty-Northfield
A fully renovated, nine-unit multifamily building in Lower Chelsea, directly across from Stockton University s Island Campus and just two blocks from the beach and boardwalk. The property features seven spacious three-bedroom units, one two-bedroom unit, and one one-bedroom unit. Five units are currently leased on annual terms, while four units are vacant and ready for immediate occupancy. The building is already condo-converted, offering buyers the flexibility to hold as a long-term rental investment or sell units individually. This dual exit strategy offers investors a powerful upside, providing both long-term appreciation and short-term disposition opportunities. The owner reports riparian rights supporting up to six boat slips and notes prior approvals for a rooftop deck. Recent improvements include a new bulkhead, new electric with permits, upgraded panels and wiring, new HVAC systems, approximately 80% new plumbing stacks, a new sewer line to the street, recent roof re-lining, eight tons of gravel added to the rear yard, removal of the original boiler, and major structural reinforcement throughout the building with steel I-beams and sistered support posts. The property is secured with fencing, digital lock access, and a sixteen-camera security system. Many units offer water views and feature central A/C, gas heating, and gas cooking. Units A, B, C, 1, 3, and 5 were fully renovated, while units 2, 4, and 6 have been recently updated. Located on the Ventnor border, the building benefits from excellent proximity to restaurants, grocery stores, pharmacies, retail corridors, and Atlantic City s major casinos and attractions. Public transportation stops are located directly out front.
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Property Features
- Age: Over 50 Years Old
- Amenities: Dock
- Amenities: Water Front
- Amenities: Security System
- Building Units: 9
- Cooling System: Central Air
- Exterior Type: Brick
- Exterior Type: Stone
- Floor Covering: Vinyl
- Floor Covering: Linoleum
- Floors: 4
- Heating System: Forced Air
- Heating System: Natural Gas
- MLSID: 602801
- Roof Type: Flat
- Rooms: Bathroom 4
- Rooms: Bathroom 5
- Rooms: Basement
- Rooms: Bathroom 2
- Rooms: Bathroom 3
- Rooms: Bathroom 1
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