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This multi-family property offers a fantastic investment opportunity in a prime location, just one block to the beach and boardwalk, this Legal 4unit building has major potential. Currently as it stands there is a ground floor commercial space that is ready for new tenants to customize and start their business. Additionaly on the ground floor is a one bedroom residential unit that has been successfully utilized as a short term rental on AirBnB generating enough steady cash flow to cover all of the buildings carrying costs. The second floor and third floor used each be a three bedroom, two full bathapartment, however the current owner has cobined them into one spacious residential unit that can accomadate up to 6 bedrooms and 4 bathrooms. This unit is currently under development and offers amplepotential for customization. The Airbnb unit is beautifully renovated and was completed as of July 2022. These renovations included all essentialupdates such as all new windows, an on demand tankless hot water heater, all new water supply & waste lines, upgraded electrical wiring,modern lighting & state of the art security cameras. The upstairs 2 story residential unit is under development and features all new Bay Windows, Upgraded Electrical Panel, and new water, waste, and gas lines are allready stubbed out. This is the unit that could be seperated back into two3bdrm units. The exterior of the building features all new steel exterior doors and was freshly painted along with the East side Mural in Oct 2023.Oil tank has also been removed in 2021. With its versatile layout and prime location, this property presents an excellent opportunity for investorsor those looking for a mixed use multi-family home in the heart of the cities commercial business district with great income potential. Don't missout on this chance to own or invest in a Value Add property with near endless possibilities. Buildable 4000+ sqft lot across the street at 27 S.Kentucky also available for sale. Any furthur questions regarding this property please contact your local Real Estate Agent asap. Floor plans and CRDA approved land use for 4 unit bldg are available upon request to qualified buyers.

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Listed by GERARD (Jerry) BARKER of WEICHERT REALTORS ASBURY GROUP-AC

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 "Based on information submitted to South Jersey Shore Regional MLS as of March 5, 2024 6:34 AM EST. All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing."

 
 

 

 

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