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USANJVentnor City11 S Oakland Ave
11 S Oakland Ave, Home with 0 bedrooms, 0 bathrooms and null parking in Ventnor City NJ | Image 1
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$1,950,000

11 S Oakland Ave, Ventnor City, NJ

Real Estate

For Sale

$--,---,---
000
  • Key Facts
  • Description
  • Map

Key Facts

Type Other
Levels Residential Income
Size 7227 sqft
Garage No
Maintenance Fees 
Taxes $17,696
Days Active 2
Approx. Age 1922
Avg. Price Per Sqft $269
MLS® Number NJAC2019198

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

WOW !!! , 19 UNITS ( 7 One bed , 1 kitchen, 1 bathromm Apartments and 17 Studio Units ) EXCELLENT INVEST PROPERTY !!! : total annual gross rental incoe from 19 Units: $268.812.00 but 5 % vacant now so ( decuct $13, 406 ) so now rental income is $255, 406.00 and seller's expense are $55, 719.00 so CURRENT NET ANNUAL RENTAL INCOME IS $200, 000.00 . One and half block away from New Jersey Atlantic city Boardwalk , NO Gas Line, All tenants have their own elecric meter and pay bill. This would be a really good investment, currently over 10% cap and current owner has had it for 40 years and one person manages it for $1, 200 a month and has a manager unit in the basement with all the tools and equipment. And there are 19 electric meters for all 19 units with no gas so the owner is not responsible for much since the cooking, air conditioning, and heating are all electric. And there is one more electric meter that is for the common area lights and the owner pays the electric bill. There is a fire alarm system, a mailbox, and an exit stairwell for emergencies. It is very easy to manage and it is located just a block and a half from the Atlantic City Boardwalk in New Jersey so if you kick out all the tenants and rent it out as an Airbnb or vacation spot in the summer you could make more money. The only things the owner is responsible for are the water and the roof and the common area lights and the roof was new last year so there are no issues. It is a very cozy and nice area. The reason for selling is because the owner is retiring. And there are new roofs on both sides of the building. It looks much better than before because of the siding, and there are two unused units in the basement that could be used for two more tenants if the city gives permission. It is okay for an agent or POTENTIAL BUYERS to drive around the building and look around but they must not open the door or enter without prior notice or make contact with the tenant.Show Description
MLS® NumberNJAC2019198
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age1922
Stories
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatOther, Electric
A/CWall Unit, Window Unit(s), Electric
Heating Fuel

Extras

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