Corner Buffalo at Atlantic Avenue
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Corner Buffalo at Atlantic Avenue
5 Unit Apartment Building $2,500,000 ($500,000/Unit) 3.13% Cap Rate Ventnor City, NJ 08406
Investment Highlights
- One block to beach.
- Courtyard with outdoor shower
- High ceilings
Executive Summary
Built in 1928 by current owner's great-grandfather. Highest point in Ventnor, survived Sandy. Five units: Two one-bed one-bath, Two two-bed one bath, One (two story) two-bed two bath. Has courtyard with outdoor shower. Has basement with laundry. Fully occupied. Some recent renovations to three of the five units. Gas heat. Corner property one block to beach.
Financial Summary (Actual - 2021) 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 |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2021) 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 | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,500,000 | Apartment Style | Low Rise |
| Price Per Unit | $500,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.08 AC |
| Cap Rate | 3.13% | Building Size | 3,235 SF |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1928 |
| Property Subtype | Apartment |
| Price | $2,500,000 |
| Price Per Unit | $500,000 |
| Sale Type | Investment |
| Cap Rate | 3.13% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 3,235 SF |
| No. Stories | 2 |
| Year Built | 1928 |
Unit Amenities
- Air Conditioning
- Heating
- Carpet
Site Amenities
- Courtyard
- Laundry Facilities
- Picnic Area
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 5 | $1,375 | 579 - 875 |
1 of 1
Walk Score ®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 22-00075-0000-00007 | Total Assessment | $362,100 (2024) |
| Land Assessment | $235,500 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $126,600 (2024) | Tax Year | 2021 |
PROPERTY TAXES
Parcel Number
22-00075-0000-00007
Land Assessment
$235,500 (2024)
Improvements Assessment
$126,600 (2024)
Total Assessment
$362,100 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2021
zoning
| Zoning Code | R7 (Residential) |
| R7 (Residential) |
-
Fredric Plotnick -
Fredric L. Plotnick
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Corner Buffalo at Atlantic Avenue
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