For Sale 27 Rhode Island, Atlantic City, NJ, 08401

FINANCING AVAILABLE 50 PERCENT DOWN owner will finance at 6 percent with ten year balloon note. PRICE REDUCED BY $50,000.00 Great Location. walk to beach and boardwalk. same street as the light house Front yard and rear yard. open porch Qualifications: Broker/Owner....prepares all agreements. prospects must qualify for showings. Must have cash.....with proof of funds.. If financing necessary prospect must have proof of good credit with legitimate mtge prequalification letter BEFORE showings are set up. LOCATION, LOCATION, LOCATION LOCATION.................... CALL FOR APPOINTMENT DETAILS - THIS IS THE ONLY VICTORIAN HOME FOR SALE IN ATLANTIC CITY - Built in 1899 - Call for appointment Property is being sold AS IS!

The perfect townhouse in the fastest growing area of Atlantic City, the Inlet. Plenty of room with 3 bedrooms, 11/2 baths, kitchen, dining, room, and living room. Totally renovated electric, plumbing, new windows doors, appliances and a new roof. and heating system . You are a short walk to the beach, the Boardwalk, the Hard Rock, and the Ocean Casino. Turn the key and move into great beach living. But what a great investment property !!! for rent or year round Airbnb. There are no limits to the investment possibilities\'

**ATTENTION INVESTORS** Located at the Jersey Shore, in a prime area of Atlantic City we have a **FULLY RENOVATED** **FULLY OCCUPIED** mixed-use commercial property offering an excellent **TURNKEY** investment opportunity. The building features (4) well-maintained units, including (3) residential apartments and (1) leased commercial space on the first floor. Recent updates include a **BRAND NEW ROOF** and extensive renovations to **ALL MAJOR SYSTEMS** within the past two years, minimizing future maintenance costs. **APARTMENT 1** consists of 1-bedroom (plus a den) and 1-bath on the first floor, rented for $1,200/month on a month-to-month lease. **APARTMENT 2** is a 2-bedroom, 1-bath on the second floor, rented for $1,450/month on a yearly lease due for renewal October 2025. **APARTMENT 3** is a 2-bedroom, 1-bath on the third floor, rented for $1,400/month on a yearly lease that was just renewed February 2025. The **COMMERCIAL SPACE** is leased to a 24/7 take-out restaurant for $2,100/month on a 5-year lease (exp. April 2029), with a guaranteed 5% rent increase per year! With a **TOTAL GROSS INCOME OF $73,800** and a **NET OPERATING INCOME (NOI) OF $62,338**, this property presents a solid **9.97% CAP RATE** at the current asking price. The building’s operating expenses include taxes of $4,902/year, insurance at approximately $5,000/year, and sewer/water costs shared equally with the commercial tenant, totaling around $1,200/year for the owner. Additionally, electric and gas are separately metered for each unit, with tenants also responsible for heat and hot water. The property is strategically located in a high-traffic area of Atlantic City, just minutes from the iconic Atlantic City Boardwalk, world-class casinos, and entertainment venues. It’s an optimal location for long-term growth, with proximity to major highways and public transportation, making it a highly desirable area for both residential tenants and commercial ventures. With a thriving tourism industry and a growing demand for housing and retail in Atlantic City, this property represents a unique opportunity to own a fully-renovated, fully occupied, income-generating asset in one of New Jersey’s most dynamic markets. Contact us today to schedule a private showing or for more information!