11 S Oakland Avenue

VENTNOR CITY, NJ 08406

  • 0 Bed(s)
  • 0 Bath(s)
  • 7,227 Sqft
  • 2896
    Sqft(Lot)
$1,950,000

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.

  • Property Type

    Multi-Family

  • County

    ATLANTIC

  • Style

    Other

  • AD ID

    50146673

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Property Details

  • Water/Sewer

    • Water Source : Public

    Interior Features

    • Basement Description: Other

    Heating & Cooling

    • Cooling: Wall Unit,Window Unit(s)
    • Heating: Other
    • Cooling Fuel: Electric
    • Heating Fuel: Electric

  • Building Information

    • Year Built: 1922
    • Structure: Other
    • New Construction: No
    • Total Units: 4
    • Built: 1922
    • Construction Material: Brick
    • Security System: Main Entrance Lock
    • Architecture: Other
    • Pool/Private: No Pool

    Exterior Features

    • Utilities: Cable TV,Cable TV Available,Electric Available,Phone Available,Sewer Available,Water Available

    Pool Information

    • Pool: No Pool

    Utility Features

    • Sewer: Public Sewer

    Water

    • Water Heat: Electric

  • Lot Information

    • Lot Size: 2,896
    • Dimensions: 38.61 x 75.00
    • Lot Size (Acres): 0.07
    • Architectural Style: Other
    • Main Square Feet: 2,896

    Property Information

    • SQ ft: 7,227
    • SQ ft (Living Area): 7,227
    • Total Lot SQ ft: 2,896
    • Financing: Cash,Contract,Conventional,Exchange,Other
    • Appx. Lot Dimensions: 38.61 x 75.00
    • Total Acreage: 0.07
    • New Construction: No
    • Type: Other

  • Listing Information

    • Possession: 0-30 Days CD
    • Days Of Market: 6

  • Tax Information

    • Annual Tax: $17,696
    • Tax Year: 2024
    • Total Taxes Payment Frequency: Annually

    Possession

    • 0-30 Days CD

    Assessment Information

    • Taxes Assessment Amount: $647,500

  • Parking Information

    • Parking Type: On Street

    Multi-Unit Information

    • Acceptable Financing: Cash,Contract,Conventional,Exchange,Other

    Homeowners Association Information

    • Direction: Atalantic city-Atlantic Ave & Canbridge Ave

  • School Information

    • Elementary School: VENTNOR E.S.
    • Middle OR Junior School: VENTNOR M.S.
    • High School: ATLANTIC CITY
    • School District: ATLANTIC CITY SCHOOLS

    Utility Information

    • Cable TV,Cable TV Available,Electric Available,Phone Available,Sewer Available,Water Available
    • Water Source: Public
    • Sewer: Public Sewer
    • Cooling Fuel: Electric
    • Heating Fuel: Electric
    • Hot Water: Electric

    Location Information

    • Direction: Atalantic city-Atlantic Ave & Canbridge Ave
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BuyOwner last updated this listing 06/20/2025 @ 02:51

  • MLS: NJAC2019198
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: BRIGHT MLS

is a Other, with 0 bedrooms which is for sale, it has 7,227 sqft, 2,896 sized lot, and 0 parking. are nearby neighborhoods.