Tenant-Occupied Multifamily
216-218 London Avenue, Egg Harbor City, NJ 08215
For Sale
$280,000
The residential property is currently leased and occupied by tenants.
Property Size1,460 SF
Price / SF$191.78
Days on Market179
Property Features for 216-218 London Avenue
General Information
Standard status
Size
Property subtype
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Units
Listing Agency:
Jersey Property Group Realty
Listed By:
Donna Mancuso · License #0675353
(732) 800-1767
Source:
Delvirginiarealtors
Added: May 15
Changed: Nov 4
Last Checked: Nov 8 at 3:09AM
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 Jersey Property Group Realty
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Investment Insights
Based on property information with market context.
This tenant-occupied multifamily property contains 1,460 square feet and dates to 1940. The building is being offered in its current condition, with the buyer responsible for inspections, condition review, and municipal due diligence.
Located at 216-218 London Avenue in Egg Harbor City, New Jersey, the property is currently leased. Access should be arranged by appointment to respect tenant occupancy.
Located at 216-218 London Avenue in Egg Harbor City, New Jersey, the property is currently leased. Access should be arranged by appointment to respect tenant occupancy.
Key Highlights
- 1,460‑square‑foot multifamily property
- Built in 1940
- Currently leased and tenant occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,614
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$292,280
$292.3K
Cap Rate 7%
$208,771
$208.8K
Cap Rate 9%
$162,378
$162.4K
Market Conditions
NOI Build-Up for 1,460 SF
Gross rent
$28.2K $19.32/SF
− Vacancy
−$1.6K −$1.12/SF
EGI
$26.6K $18.20/SF
− OpEx
−$12.0K −$8.19/SF
NOI
$14.6K $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 Rate 5%
$292,280
Cap Rate 7%
$208,771
Cap Rate 9%
$162,378
Alternative Uses
Best Use
Apartment 5plus
$208.8K
$182.7K – $243.6K
NOI $14,614 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$543.7K
$475.7K – $634.3K
NOI $38,059 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
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Business Placement
Demographics for 08215, NJ
14,092
Population
5,813
Households
2.4
Avg Household Size
45
Median Age
23%
College-Educated
92%
High-School Grad
124.1 sq mi
ZIP Area
114
Density / Sq Mi
$84,630
Median Household Income
$46,680
Median Earnings
$1,525
Median Rent
$266,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in Egg Harbor City, NJ
Properties on Market for Multifamily properties in Egg Harbor City
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - The residential property is currently leased and occupied by tenants.
Where is this multifamily property located?
The property is located at 216-218 London Avenue Egg Harbor City, NJ.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: 1,460‑square‑foot multifamily property; Built in 1940; Currently leased and tenant occupied
