For Sale 5505 Atlantic, Ventnor, NJ, 08406

OFFERED AS A RENTAL PROPERTY OR AS A REDEVELOPMENT OF CONDOS................................................................................................ Seize the opportunity to own a truly exceptional beach block property with options!! This 12-unit multifamily gem offers the perfect blend of comfort and convenience, featuring one-bedroom layouts with two distinct sizes – 6 units spanning 400 sqft and the remaining 6 boasting 600 sqft of living space. Currently, this property presents a unique investment opportunity, with only 4 units occupied out of the 12, 3 of which are under active yearly leases. The potential for growth and income is immense, offering the chance to maximize returns in a prime beach block location. Also an exceptional redevelopment opportunity with R9 zoning permitting Single family, townhomes or condos situated on a generous 62.5x60 lot in the coveted B zone. It is important to note if this property is completely redeveloped due to City ordinance already in place structure can be built 67 ft high by default and without a variance and that will make it the highest building in the entire beach block. Developers and builders please call to get all detailed information. The building is 7700 sq ft with finished basement and laundry room.The property enjoys the benefits of a high elevation, ensuring peace of mind for both residents and investors. SELLER represents that property has not been subject to flooding and no bank ever obligated seller to buy flood insurance during his 35 years ownership. During the Super Storm Sandy no water accumulated on Victoria Ave, not on the sidewalk, not on the street and not on the property itself. Heating is efficiently managed via oil, while separate electric and cooking gas meters provide added convenience and flexibility. This property presents a rare opportunity to become a part of the vibrant island life, with its burgeoning community and endless possibilities for redevelopment and enhancement. The property is sold in as is condition. Also Don\'t miss out on this chance to secure your slice of paradise and capitalize on the thriving beach block market – schedule your viewing today!

OPPORTUNITY TO RENOVATE OR BUILD NEW IN ST. LEONARD\'S TRACT AREA!! PROPERTY VALUES ARE UP! INVENTORY OF AVAILABLE PROPERTIES IS DOWN. The property is priced at land value! Design build NEW with enhanced views from front and rear decks over ground floor garage and storage. Located on bay block and 3 short blocks to the beach, tennis/ pickleball courts, playground, restaurants, shopping, movie theater and much more! Great family neighborhood. Property has great potential for your home at the shore! Awesome builder/ developer opportunity as well! Owner is a long time Owner and serious Seller, entertaining ALL purchase proposals! Call with questions and further details.

Do not miss this redevelopment opportunity located in the St. Leonard\'s Tract Historic Neighborhood. The property location is just off the Bay and three short blocks to the Ventnor Beach and Boardwalk. Located with in a short walk to the Ventnor Movie Theater complex featuring Nucky\'s Restaurant and Bar, the AAAA Bike Shop, Tennis and Pickleball Courts, Wawa, additional restaurants located on Ventnor and Atlantic Avenues and much more! The property is being sold as land value. Design and Build your Shore home with decks with bay views and a garage on the first floor!! Design and build a totally compliant new home to take advantage of the bay views and on site off street parking. There is a five (5) year 30% real estate tax abatement program available for new constructed compliant homes. Seller is entertaining all offers at this time. Showing are by appointment only.