Fully Occupied
For Sale
$199,000
Pending
404-406 Trinity Avenue, Atlantic City, NJ 08400
MULTI_FAMILY - Atlantic City, NJ
Property Size1,640 SF
Lot Size0.04 Acres
Days on Market359
Property Features for 404-406 Trinity Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 1, Bedroom 5, Bedroom 3, Bathroom 3, Bedroom 6, Bedroom 2, Bathroom 4, Bedroom 4, Basement, Bedroom 1
Directions
Between N Ohio Ave and Hummock Ave
Standard status
Pending
APN
02-00471-0000-00008
Size
1,640 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3607
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1910
Floors in Building
3
Number of units
4
Listing Agency:
Lim Bances Realty
(973) 232-5187
Listed By:
Lim Bances · License #1643967
(973) 232-5187
Added: Aug 18, 2025
Changed: Aug 7
Last Checked: Aug 11 at 4:06PM
MLS# 22525032
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully occupied quadplex is offered for sale as-is and is subject to lender approval. The property sits on a 0.04-acre lot and has 1,640 square feet of building area. Built in 1910, it includes a basement and is laid out with six bedrooms and four bathrooms.
The address is 404-406 Trinity Avenue in Atlantic City, New Jersey. Public water service and public sewer are provided.
The combination of multiple bedrooms and bathrooms can support a variety of household configurations within the quadplex format.
The address is 404-406 Trinity Avenue in Atlantic City, New Jersey. Public water service and public sewer are provided.
The combination of multiple bedrooms and bathrooms can support a variety of household configurations within the quadplex format.
Key Highlights
- Fully occupied quadplex sold as‑is, subject to lender approval
- Six bedrooms and four bathrooms, plus basement
- 0.04‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,416
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$328,320
$328.3K
Cap Rate 7%
$234,514
$234.5K
Cap Rate 9%
$182,400
$182.4K
Market Conditions
NOI Build-Up for 1,640 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.7K $19.32/SF
− Vacancy
−$1.8K −$1.12/SF
EGI
$29.8K $18.20/SF
− OpEx
−$13.4K −$8.19/SF
NOI
$16.4K $10.01/SF
Area
Atlantic County, NJ
Vacancy
5.80%
Lease Rate
$19.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$328,320
Cap Rate 7%
$234,514
Cap Rate 9%
$182,400
Alternative Uses
Best Use
Multifamily LT 5
$266.8K
$233.5K – $311.3K
NOI $18,677 @ 7.0% cap · market cap 9.39%
Second Best
Apartment 5plus
$234.5K
$205.2K – $273.6K
NOI $16,416 @ 7.0% cap · market cap 8.25%
Theoretical Best
Warehouse
$610.7K
$534.4K – $712.5K
NOI $42,751 @ 7.0% cap · market cap 21.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,065
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied quadplex with public water and public sewer, located on Trinity Avenue in Atlantic City.
Where is this quadplex located?
The property is located at 404-406 Trinity Avenue Atlantic City, NJ.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Fully occupied quadplex sold as‑is, subject to lender approval; Six bedrooms and four bathrooms, plus basement; 0.04‑acre lot
