2722 Atlantic Ave
Listing Notes
Prime investment opportunity in the heart of Atlantic City! Located at the corner of Atlantic and South Iowa Avenues , this 38-unit mixed-use elevator building sits immediately adjacent to the Tropicana Atlantic City, capturing incredible foot traffic. The 37,673 SF property features 32 residential units and 6 ground-floor retail storefronts. It currently generates a strong 8.60% cap rate on as-is NOI, with a clear path to a 9.55% pro forma cap rate. There is excellent value-add potential through the immediate lease-up of three vacant residential units, rent-control leniency on tenant turnover, and a gas-to-electric heat conversion opportunity. Asking price is $4,100,000.
Comps
Sign in to pull active competition and recent closes for this address, with a one-click XLSX export.
Mortgage Calculator
Excludes property tax, property insurance, and hoa / fees — not in this listing, so the true monthly cost is higher.
- Due at close
- $1,121,000
- Loan amount
- $2,850,000
- Loan to value
- 75%
- Principal & interestLoan scenario$19,057
- Property taxNot in listing dataNot provided
- Property insuranceNot in listing dataNot provided
- HOA / feesNot in listing dataNot provided
- Mortgage insuranceLoan scenario$0
Multifamily defaults use a larger down payment. Taxes, insurance, rent, reserves, and DSCR are not invented.
Only the listing price is sourced for this property. Missing tax, insurance, and HOA/maintenance costs are not guessed.
Listing activity
Where it is
For sale Coming soon Recently sold— zoom out for more