Seven-Bedroom
New
For Sale
$535,000
53 S Elberon Ave, Atlantic City, NJ 08401
Two separate residential levels provide a three-bedroom unit and a four-bedroom unit, each with one full bathroom.
Property Size1,732 SF
Price / SF$308.89
Days on Market2
Property Features for 53 S Elberon Ave
General Information
Standard status
Active
Size
1,732 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/1BA, 1 x 4BR/1BA
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Levin Commercial Real Estate, LLC
Listed By:
Ben Kruse
(609) 204-7891
Source:
Choosekruse
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 15 at 1:54AM
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 Levin Commercial Real Estate, LLC
Investment Insights
Based on property information with market context.
This legal duplex in Atlantic City contains two residential levels. The lower level has three bedrooms and one full bathroom; the upper level offers four bedrooms and one full bathroom. The property contains 1,732 square feet and was built in 1900. It is being sold as-is, with the buyer responsible for inspections, including the certificate of occupancy.
Key Highlights
- Legal duplex with 3 bedrooms and 1 full bath on the lower level
- Upper level includes 4 bedrooms and 1 full bath
- 1,732 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,725
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,500
$394.5K
Cap Rate 7%
$281,786
$281.8K
Cap Rate 9%
$219,167
$219.2K
Market Conditions
NOI Build-Up for 1,732 SF
Gross rent
$30.1K $17.40/SF
− Vacancy
−$2.0K −$1.13/SF
EGI
$28.2K $16.27/SF
− OpEx
−$8.5K −$4.88/SF
NOI
$19.7K $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 Rate 5%
$394,500
Cap Rate 7%
$281,786
Cap Rate 9%
$219,167
Alternative Uses
Best Use
Multifamily LT 5
$281.8K
$246.6K – $328.8K
NOI $19,725 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$247.7K
$216.7K – $289.0K
NOI $17,337 @ 7.0% cap · market cap 3.24%
Theoretical Best
Warehouse
$645.0K
$564.4K – $752.5K
NOI $45,149 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
924
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residential levels provide a three-bedroom unit and a four-bedroom unit, each with one full bathroom.
Where is this duplex located?
The property is located at 53 S Elberon Ave Atlantic City, NJ.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Legal duplex with 3 bedrooms and 1 full bath on the lower level; Upper level includes 4 bedrooms and 1 full bath; 1,732 square feet
