Tenant-Occupied Multifamily
For Sale
$280,000
318320 318-320 London Ave, Egg Harbor City, NJ 08215
Currently leased and offered in as-is, where-is condition.
Property Size1,562 SF
Price / SF$179.26
Days on Market48
Property Features for 318320 318-320 London Ave
General Information
Standard status
Active
Size
1,562 SF
Property subtype
Multi-Family
Building Details
Year Built
1920
Listing Agency:
Jersey Property Group Realty
Listed By:
Donna Mancuso · License #0675353
(609) 977-3926
Source:
Obrienrealtyllc
Added: Sep 4
Changed: Oct 7
Last Checked: Oct 7 at 4:09PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This multifamily property is tenant-occupied and currently leased. The asset is offered in as-is, where-is condition, with the buyer responsible for due diligence, inspections, and applicable municipal requirements.
Constructed in 1920, the property is located in Egg Harbor City, New Jersey. The seller has limited knowledge of the property’s measurements and unit conditions, so buyers should complete their own inspections and verification before proceeding.
Constructed in 1920, the property is located in Egg Harbor City, New Jersey. The seller has limited knowledge of the property’s measurements and unit conditions, so buyers should complete their own inspections and verification before proceeding.
Key Highlights
- Tenant‑occupied multifamily property
- Currently leased
- Offered in as‑is, where‑is condition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,635
Cap Rate
5.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$312,700
$312.7K
Cap Rate 7%
$223,357
$223.4K
Cap Rate 9%
$173,722
$173.7K
Market Conditions
NOI Build-Up for 1,562 SF
Gross rent
$30.2K $19.32/SF
− Vacancy
−$1.8K −$1.12/SF
EGI
$28.4K $18.20/SF
− OpEx
−$12.8K −$8.19/SF
NOI
$15.6K $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%
$312,700
Cap Rate 7%
$223,357
Cap Rate 9%
$173,722
Alternative Uses
Best Use
Apartment 5plus
$223.4K
$195.4K – $260.6K
NOI $15,635 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$581.7K
$509.0K – $678.6K
NOI $40,717 @ 7.0% cap · market cap 14.54%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
13
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Currently leased and offered in as-is, where-is condition.
Where is this multifamily property located?
The property is located at 318320 318-320 London Ave 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: Tenant‑occupied multifamily property; Currently leased; Offered in as‑is, where‑is condition
