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2601 Pacific Ave

4 Unit Block of Flats £314,811 (£78,703/Unit) Atlantic City, NJ 08401

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Investment Highlights

Mix use building with 3 residential units + one storefront

Executive Summary

Great investment opportunity to own (or for lease to buy) a property located in Chelsea Development Area in Atlantic City. It is a mix-use, fully occupied multiple units building with three residential units on the second floor and one storefront on the first floor currently occupied by good, long term tenants. The current rental income is $4000 per month. Since it's being managed by an absentee landlord so the rents haven't been increased since 2017, which is way below market value. With a little TLC, the new owner can easily collect $7000 monthly income. Seller is selling mix use building in AS IS condition. Buyer will be responsible for sale and rental C/O and land use application. The property is located in the intersection of Texas Ave and Pacific Ave, just one block to the Boardwalk. It is within 5 minutes walking distance to Tropicana casino, convenient stores, beach, and jitney bus line that could take you throughout the Atlantic City. Meanwhile, it is also convenient to banks, highway, train station, and the Tanger outlet shopping area. To schedule a showing, please call owner at 718-696-8579

Financial Summary (Actual - 2023) Click Here to Access	Annual	Annual Per SF
Gross Rental Income	$99,999	$9.99
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$99,999	$9.99
Taxes	$99,999	$9.99
Operating Expenses	-	-
Total Expenses	$99,999	$9.99
Net Operating Income	-	-

Financial Summary (Actual - 2023) Click Here to Access

Gross Rental Income
Annual	$99,999
Annual Per SF	$9.99

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$99,999
Annual Per SF	$9.99

Taxes
Annual	$99,999
Annual Per SF	$9.99

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	$99,999
Annual Per SF	$9.99

Net Operating Income
Annual	-
Annual Per SF	-

Property Facts

Price	£314,811	Apartment Style	Low Rise
Price Per Unit	£78,703	Building Class	B
Sale Type	Investment or Owner User	Lot Size	0.03 AC
Sale Conditions	Tenants option to buy property	Building Size	7,160 SF
No. Units	4	Number of Floors	2
Property Type	Residential	Year Built	1978
Property Subtype	Apartment Daycare Centre General Retail Storefront Office Office Residential	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	£314,811
Price Per Unit	£78,703
Sale Type	Investment or Owner User
Sale Conditions	Tenants option to buy property
No. Units	4
Property Type	Residential
Property Subtype	Apartment Daycare Centre General Retail Storefront Office Office Residential
Apartment Style	Low Rise
Building Class	B
Lot Size	0.03 AC
Building Size	7,160 SF
Number of Floors	2
Year Built	1978
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Amenities

Air Conditioning
Heating

Kitchen
Refrigerator

Oven

Tub/Shower

Site Amenities

Guest Apartment

Conference Rooms

1 of 1

Walk Score ®

Walker's Paradise (92)

What is a Walk Score®, Transit Score® & Bike Score®?

Walk Score® measures the walkability of any address.

Transit Score® measures access to public transit.

Bike Score® measures bikeability of a location.

What is a Walk Score®

, Transit Score® & Bike Score?

Walk Score® measures the walkability

of any address. Transit Score®

measures access to public transit. Bike Score®

measures bikeability of a location.®

Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number	02-00169-0000-00004	Total Assessment	£234,806 (2024)
Land Assessment	£46,156 (2024)	Annual Taxes	-£1 (£0.00/sf)
Improvements Assessment	£188,650 (2024)	Tax Year	2023

PROPERTY TAXES

Parcel Number

02-00169-0000-00004

Land Assessment

£46,156 (2024)

Improvements Assessment

£188,650 (2024)

Total Assessment

£234,806 (2024)

Annual Taxes

-£1 (£0.00/sf)

Tax Year

2023

zoning

Zoning Code	RS (Zoning is under CRDA ( Casino Reinvestment Development Authority ) Zoning ARE)
RS (Zoning is under CRDA ( Casino Reinvestment Development Authority ) Zoning ARE)