Two-Unit Duplex with Oversized
For Sale
$549,900
3901 S Blvd, Atlantic City, NJ 08401
Bay-adjacent duplex with separate electric metering, shared gas service, and a custom stone pergola in the rear yard.
Property Size2,666 SF
Price / SF$206.26
Days on Market24
Property Features for 3901 S Blvd
General Information
Standard status
Active
Size
2,666 SF
Property subtype
Multi-Family
Listing Agency:
Resorts Ltd Inc
(609) 204-7891
Listed By:
Ben Kruse
(609) 204-7891
Source:
Choosekruse
Added: Aug 8
Changed: Aug 30
Last Checked: Aug 30 at 6:35PM
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 Resorts Ltd Inc
Investment Insights
Based on property information with market context.
This two-unit duplex contains a vacant first unit and a second unit with three bedrooms that is currently owner-occupied. The property measures 2,666 square feet and includes an oversized backyard with a custom-built stone pergola. A roof replacement completed one year ago is among the recent improvements.
Each unit has its own electric meter, while gas service is shared. The property is located in Chelsea Heights in Atlantic City, positioned in the second row from the bay and directly across from Wonder Bar. Its address is 3901 S Blvd, Atlantic City, NJ 08401, with casinos, beaches, the Boardwalk, restaurants, entertainment, and marinas identified nearby.
Each unit has its own electric meter, while gas service is shared. The property is located in Chelsea Heights in Atlantic City, positioned in the second row from the bay and directly across from Wonder Bar. Its address is 3901 S Blvd, Atlantic City, NJ 08401, with casinos, beaches, the Boardwalk, restaurants, entertainment, and marinas identified nearby.
Key Highlights
- 2,666‑square‑foot duplex in Atlantic City’s Chelsea Heights neighborhood
- First unit is vacant; second unit has three bedrooms and is owner‑occupied
- Separate electric meters serve the two units; gas service is shared
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,361
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$607,220
$607.2K
Cap Rate 7%
$433,729
$433.7K
Cap Rate 9%
$337,344
$337.3K
Market Conditions
NOI Build-Up for 2,666 SF
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.
Gross rent
$46.4K $17.40/SF
− Vacancy
−$3.0K −$1.13/SF
EGI
$43.4K $16.27/SF
− OpEx
−$13.0K −$4.88/SF
NOI
$30.4K $11.39/SF
Area
Atlantic County, NJ
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$607,220
Cap Rate 7%
$433,729
Cap Rate 9%
$337,344
Alternative Uses
Best Use
Multifamily LT 5
$433.7K
$379.5K – $506.0K
NOI $30,361 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$381.2K
$333.6K – $444.8K
NOI $26,686 @ 7.0% cap · market cap 4.85%
Theoretical Best
Warehouse
$992.8K
$868.7K – $1.16M
NOI $69,496 @ 7.0% cap · market cap 12.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,504
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Bay-adjacent duplex with separate electric metering, shared gas service, and a custom stone pergola in the rear yard.
Where is this duplex located?
The property is located at 3901 S Blvd Atlantic City, NJ.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 2,666‑square‑foot duplex in Atlantic City’s Chelsea Heights neighborhood; First unit is vacant; second unit has three bedrooms and is owner‑occupied; Separate electric meters serve the two units; gas service is shared
