Duplex Near
132 North Tennessee Avenue Atlantic City, NJ 08401
132 North Tennessee Avenue, Atlantic City, NJ, 08401
$449,000
For Sale
$449,000
Two-unit duplex with established rental terms, offering beach proximity for flexible long- and short-term use.
Property Size3,123 SF
Price / SF$143.77
Days on Market94
Property Features for 132 North Tennessee Avenue
General Information
- Standard status
- Active
- Size
- 3,123 SF
- Property subtype
- MULTI-FAMILY / Duplex
Listing agency
LPT Realty
(609) 703-7906
Listed by
ERIK EWELL · License #1643012
(609) 703-7906
Source
Compass
Added: Apr 20 Updated: Jul 10 at 1:50PM Checked: Jul 22 at 9:58AM
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 LPT Realty
Investment Insights
Based on property information with market context.
This duplex offers two separate residential apartments. The first-floor unit is configured with 3 bedrooms and 1 bathroom and is currently rented for $2,586. The second-floor unit provides 5 bedrooms and 2 full bathrooms and is listed for rent for $2,800.
The property is located downtown in Atlantic City and is approximately four blocks from the beach. That proximity can be a practical advantage for tenants seeking an easy walk to the shoreline.
For buyers or operators, the layout supports two distinct income-producing units: a smaller first-floor apartment and a larger second-floor apartment. With both units currently tied to rental pricing, the building may fit investors or landlords looking for a straightforward duplex structure with flexibility for long-term and short-term rental use, depending on their operating plan.
The property is located downtown in Atlantic City and is approximately four blocks from the beach. That proximity can be a practical advantage for tenants seeking an easy walk to the shoreline.
For buyers or operators, the layout supports two distinct income-producing units: a smaller first-floor apartment and a larger second-floor apartment. With both units currently tied to rental pricing, the building may fit investors or landlords looking for a straightforward duplex structure with flexibility for long-term and short-term rental use, depending on their operating plan.
Key Highlights
- Downtown Atlantic City two‑unit duplex, 4 blocks from the beach
- First‑floor unit: 3 bedrooms, 1 bathroom, rented for $2,586
- Second‑floor unit: 5 bedrooms, 2 full bathrooms, listed for rent for $2,800
Local Financial Insights For Multifamily LT 5
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 | $54.3k | $17.40 |
| − Vacancy | −$3.5k | −$1.13 |
| EGI | $50.8k | $16.27 |
| − OpEx | −$15.2k | −$4.88 |
| NOI | $35.6k | $11.39 |
3,123 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$508.1K
$444.6K – $592.8K
NOI $35,566 @ 7.0% cap · market cap 7.92%
Second Best
Apartment 5plus
$446.6K
$390.8K – $521.0K
NOI $31,260 @ 7.0% cap · market cap 6.96%
Theoretical Best
Warehouse
$1.16M
$1.02M – $1.36M
NOI $81,409 @ 7.0% cap · market cap 18.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two-unit duplex with established rental terms, offering beach proximity for flexible long- and short-term use.
Where is this duplex located?
The property is located at 132 North Tennessee Avenue Atlantic City, NJ.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Downtown Atlantic City two‑unit duplex, 4 blocks from the beach; First‑floor unit: 3 bedrooms, 1 bathroom, rented for $2,586; Second‑floor unit: 5 bedrooms, 2 full bathrooms, listed for rent for $2,800
