5-Unit Apartment
New
For Sale
$799,000
3601 Winchester, Atlantic City, NJ 08401
Five residential units occupy a building in Atlantic City's Chelsea neighborhood.
Property Size4,024 SF
Lot Size0.03 Acres
Price / SF$198.56
Days on Market2
Property Features for 3601 Winchester
General Information
Standard status
Active
Size
4,024 SF
Lot size
0.03 Acres
Property subtype
Multi-Family
Additional Details
Asking Price
$799,000
Multifamily Units
5
Building Details
Year Built
1960
Listing Agency:
WEICHERT REALTORS ASBURY GROUP-AC
Listed By:
Gerard (Jerry) Barker · License #6801
(609) 561-1200
Source:
Theoceansiderealtyteam
Added: Nov 1
Last Checked: Oct 23 at 3:01AM
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 WEICHERT REALTORS ASBURY GROUP-AC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This five-unit apartment property contains 4,024 square feet of building area on a 1,498-square-foot lot. Constructed in 1960, it is located at 3601 Winchester Avenue in Atlantic City’s Chelsea neighborhood.
Sovereign Avenue School is approximately 0.2 miles away. Income and expense information is available to qualified buyers.
Sovereign Avenue School is approximately 0.2 miles away. Income and expense information is available to qualified buyers.
Key Highlights
- Five residential units
- 4,024 square feet of building area
- 1,498‑square‑foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,279
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$805,580
$805.6K
Cap Rate 7%
$575,414
$575.4K
Cap Rate 9%
$447,544
$447.5K
Market Conditions
NOI Build-Up for 4,024 SF
Gross rent
$77.7K $19.32/SF
− Vacancy
−$4.5K −$1.12/SF
EGI
$73.2K $18.20/SF
− OpEx
−$33.0K −$8.19/SF
NOI
$40.3K $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%
$805,580
Cap Rate 7%
$575,414
Cap Rate 9%
$447,544
Alternative Uses
Best Use
Apartment 5plus
$575.4K
$503.5K – $671.3K
NOI $40,279 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.50M
$1.31M – $1.75M
NOI $104,896 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,238
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Five residential units occupy a building in Atlantic City's Chelsea neighborhood.
Where is this apartment building located?
The property is located at 3601 Winchester 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: Five residential units; 4,024 square feet of building area; 1,498‑square‑foot lot
