Gutted Multifamily Building for Six
111 Oriental Ave Atlantic City, NJ 08401
New
111 Oriental Ave, Atlantic City, NJ, 08401
$799,000
For Sale
$799,000
A gutted building is fit out for six units, with new windows installed and a full basement adding flexibility.
Property Size4,620 SF
Price / SF$172.94
Days on Market6
Property Features for 111 Oriental Ave
General Information
- Standard status
- Active
- Size
- 4,620 SF
Building Details
- Year Built
- 1950
Listing agency
EXP Realty, LLC
(609) 992-6872
Listed by
Hader Rivas Sr. · License #0345922
Source
Kandorre
Added: Jul 16 Updated: Jul 21 at 4:54AM Checked: Jul 21 at 4:54AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty, LLC
Investment Insights
Based on property information with market context.
This property has been gutted and already fit out for six units, including five two-bedroom units and one one-bedroom unit. Each unit is configured with one bathroom. The groundwork is in place with brand-new windows installed and plywood flooring installed. A full basement is also available, which may offer additional flexibility pending required approvals.
Located just steps from the Atlantic City Boardwalk and the oceanfront, the building provides direct ocean views and immediate access to the beach. It is also positioned near Ocean Casino Resort and within a corridor described as undergoing redevelopment.
The City’s current six-unit limit is referenced as the basis for the existing configuration. Any expansion beyond six units, including reactivating the basement level as previously utilized for living space, would require a variance.
Located just steps from the Atlantic City Boardwalk and the oceanfront, the building provides direct ocean views and immediate access to the beach. It is also positioned near Ocean Casino Resort and within a corridor described as undergoing redevelopment.
The City’s current six-unit limit is referenced as the basis for the existing configuration. Any expansion beyond six units, including reactivating the basement level as previously utilized for living space, would require a variance.
Key Highlights
- 1950‑built property gutted and fit out for six units: five 2‑bedroom units and one 1‑bedroom unit
- Each unit is listed as having one bath, consistent with the City’s current six‑unit limit
- Brand‑new windows installed and plywood flooring in place
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $89.3k | $19.32 |
| − Vacancy | −$5.2k | −$1.12 |
| EGI | $84.1k | $18.20 |
| − OpEx | −$37.8k | −$8.19 |
| NOI | $46.2k | $10.01 |
4,620 SF · lease $19.32/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$660.6K
$578.1K – $770.8K
NOI $46,245 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.72M
$1.51M – $2.01M
NOI $120,432 @ 7.0% cap · market cap 15.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Short term rental ...
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - A gutted building is fit out for six units, with new windows installed and a full basement adding flexibility.
Where is this apartment building located?
The property is located at 111 Oriental Ave Atlantic City, NJ.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 1950‑built property gutted and fit out for six units: five 2‑bedroom units and one 1‑bedroom unit; Each unit is listed as having one bath, consistent with the City’s current six‑unit limit; Brand‑new windows installed and plywood flooring in place
