New Construction
38 North Boston Avenue Atlantic City, NJ 08401
38 North Boston Avenue, Atlantic City, NJ, 08401
$624,999
For Sale
$624,999
Brand-new stick-built duplex with two units, each featuring 2 bedrooms, 2 full baths, and in-unit laundry.
Property Size1,600 SF
Price / SF$390.62
Days on Market391
Property Features for 38 North Boston Avenue
General Information
- Standard status
- Active
- Size
- 1,600 SF
- Property subtype
- MULTI-FAMILY / Duplex
Building Details
- Year Built
- 2025
Listing agency
Soleil Sotheby's International Realty - A
(609) 892-9947
Listed by
ERIC MILLSTEIN · License #1757387
(609) 892-9947
Source
Compass
Added: Jun 28, 2025 Updated: Jul 22 at 2:36AM Checked: Jul 22 at 2:36AM
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 Soleil Sotheby's International Realty - A
Investment Insights
Based on property information with market context.
38 N Boston Ave is a brand-new, stick-built duplex designed as a two-unit residential income property. The building includes two separate units, each planned to offer approximately 800 square feet with 2 bedrooms and 2 full bathrooms. Interior finishes and amenities are specified for each unit, including luxury vinyl flooring, granite countertops, stainless steel appliances, central air, a tankless hot water heater, and a washer/dryer. Outdoor features include an outdoor shower, and off-street parking is planned for the property.
The address is in Atlantic City, with the listing noting proximity to the beach and boardwalk, as well as nearby attractions including Tropicana, Boardwalk Hall, and The Walk outlets. The estimate for completion is summer 2026.
The property is also described as eligible for Atlantic City’s five-year tax abatement and special financing programs, subject to program requirements.
The address is in Atlantic City, with the listing noting proximity to the beach and boardwalk, as well as nearby attractions including Tropicana, Boardwalk Hall, and The Walk outlets. The estimate for completion is summer 2026.
The property is also described as eligible for Atlantic City’s five-year tax abatement and special financing programs, subject to program requirements.
Key Highlights
- Brand‑new 2025 stick‑built duplex with 2 units
- Each unit includes about 800 SF with 2 bedrooms and 2 full bathrooms
- Unit features: luxury vinyl flooring, granite countertops, and stainless steel appliances
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 | $27.8k | $17.40 |
| − Vacancy | −$1.8k | −$1.13 |
| EGI | $26.0k | $16.27 |
| − OpEx | −$7.8k | −$4.88 |
| NOI | $18.2k | $11.39 |
1,600 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$260.3K
$227.8K – $303.7K
NOI $18,221 @ 7.0% cap · market cap 2.92%
Second Best
Apartment 5plus
$228.8K
$200.2K – $266.9K
NOI $16,016 @ 7.0% cap · market cap 2.56%
Theoretical Best
Warehouse
$595.8K
$521.4K – $695.1K
NOI $41,708 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Brand-new stick-built duplex with two units, each featuring 2 bedrooms, 2 full baths, and in-unit laundry.
Where is this duplex located?
The property is located at 38 North Boston Avenue Atlantic City, NJ.
What is the asking price?
The asking price for this property is $624,999.
What are key features of this property?
This property features: Brand‑new 2025 stick‑built duplex with 2 units; Each unit includes about 800 SF with 2 bedrooms and 2 full bathrooms; Unit features: luxury vinyl flooring, granite countertops, and stainless steel appliances
