14-Unit Apartment
For Sale
$885,000
27 FLORIDA AVENUE, Atlantic City, NJ 08401
Built in 1920, the property includes window air conditioning and on-street parking in Atlantic City.
Property Size2,500 SF
Price / SF$354
Days on Market9
Property Features for 27 FLORIDA AVENUE
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
14
Taxes and HOA fees
Annual Taxes
$7,334
Amenities
Window Air Conditioning
3
Parking.
On Street.
25.00 x 100.00
Building Details
Year Built
1920
Listing Agency:
KW Empower
(215) 595-5071
Listed By:
John Delaney
(215) 595-5071
Source:
Xome
Added: Jul 27
Changed: Aug 2
Last Checked: Aug 4 at 3:27AM
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 KW Empower
Investment Insights
Based on property information with market context.
Located at 27 Florida Avenue in Atlantic City, this 2,500-square-foot multifamily property contains 14 rental units under one roof. The configuration includes a 13-unit rooming house and a separate full apartment, providing distinct residential components within the building.
Constructed in 1920, the property features window air conditioning and on-street parking. Its setting is described as just blocks from the boardwalk, beach, and casino corridor, placing the building within Atlantic City's established shore and entertainment district. The parcel measures 25.00 x 100.00.
Constructed in 1920, the property features window air conditioning and on-street parking. Its setting is described as just blocks from the boardwalk, beach, and casino corridor, placing the building within Atlantic City's established shore and entertainment district. The parcel measures 25.00 x 100.00.
Key Highlights
- 14 total rental units, including a 13‑unit rooming house and a full apartment
- 2,500 square feet of multifamily space
- Built in 1920
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 | $48.3k | $19.32 |
| − Vacancy | −$2.8k | −$1.12 |
| EGI | $45.5k | $18.20 |
| − OpEx | −$20.5k | −$8.19 |
| NOI | $25.0k | $10.01 |
2,500 SF · lease $19.32/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$357.5K
$312.8K – $417.1K
NOI $25,024 @ 7.0% cap · market cap 2.83%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$931.0K
$814.6K – $1.09M
NOI $65,169 @ 7.0% cap · market cap 7.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
14
Residential units
Location Intelligence
Trade Area within ½ mile
2,002
Businesses Nearby
Explore this area
Business Placement
Demographics for 08401, NJ
38,536
Population
20,116
Households
1.9
Avg Household Size
38
Median Age
21%
College-Educated
76%
High-School Grad
10.7 sq mi
ZIP Area
3,601
Density / Sq Mi
$36,375
Median Household Income
$28,915
Median Earnings
$1,086
Median Rent
$189,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Built in 1920, the property includes window air conditioning and on-street parking in Atlantic City.
Where is this apartment building located?
The property is located at 27 FLORIDA AVENUE Atlantic City, NJ.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: 14 total rental units, including a 13‑unit rooming house and a full apartment; 2,500 square feet of multifamily space; Built in 1920
