1658 W Riverside, Atlantic City, NJ 08401
Atlantic County
Key Facts
Description
Turnkey waterfront investment opportunity! This fully renovated triplex offers an exceptional combination of immediate cash flow, modern improvements and rare deep water access. Completely gutted and rebuilt less than 2 years ago, the property is fully occupied by year round tenants, providing stable income from day one. The building consists of three spacious units: a large one bedroom apartment, a two story four bedroom residence and a two story two bedroom residence. Each unit has been thoughtfully renovated with updated finished and major systems, making this a truly low maintenance addition to any investment portfolio. Outside, you'll find a brand new dock and pilings capable of accomodating up to three large boats or several smaller vessels creating an incredible waterfront amenity rarely found with multi-family properties. Beyond its current income producing performance, this property offers outstanding long term flexibility. Continue operating as a fully leased investment, explore the property future short term rental/Airbnb potential (subject to local regulations), or owner occupy one of the units while the remaining apartments help off set your mortgage-an ideal opportunity to enjoy waterfront living while generating rental income. Whether you are looking to expand your portfolio with a stabilized asset or secure a unique waterfront property with tremendous upside, opportunities like this are few and far between. Property is being sold strictly as is. Buyer is responsible for obtaining the Certificate of Occupancy and any other municipal certifications required for closing.
Property Information
Property Type
Residential Income
Sub-Type
Triplex
Year Built
1930
Garage Spaces
2
Days on Market
8
MLS® Listing#
609715
Property Features
Exterior
Appliances
Heating
Basement
Parking
Patio
Sewer
Water Source
Financial Details
Annual Taxes
$13,402
Affordability Calculator
$159,980
Estimated monthly payment
$4,257/mo
Principal $639,920 · Est. interest $892,745 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Atlantic City, NJ
- $616,595
- Median Listing Price
- 48
- Median Days on Market
- 1,400
- Median Sq Ft
- $405
- Median Price / Sq Ft
- 3,186
- Active Listings
- This home’s price is 30% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Atlantic City, NJ.
Location
Points of Interest in Atlantic City, NJ
Showing the Atlantic City area map.
Nearby Schools
Venice Park Elementary School
Elementary · 0.4 mi away
Dr Martin Luther King School
Elementary · 0.7 mi away
Atlantic City Schools
School · 0.9 mi away
Texas Avenue School
Elementary · 1.0 mi away
Oceanside Charter School
School · 1.0 mi away
Brighton Avenue School
Elementary · 1.0 mi away
New York Avenue School
Elementary · 1.0 mi away
Sovereign Avenue School
Elementary · 1.1 mi away
Our Lady Star of the Sea Church
School · 1.1 mi away
Indiana Ave School
School · 1.1 mi away
Chelsea Heights School
Elementary · 1.2 mi away
Atlantic City High School
Secondary · 1.4 mi away
Pennsylvania Ave School
Elementary · 1.4 mi away
Atlantic City Public Schools
Elementary · 1.4 mi away
Richmond Avenue School
Elementary · 1.5 mi away
New Jersey Avenue School
School · 1.7 mi away
Uptown School Complex
Elementary · 1.9 mi away
Ventnor Elementary School
Elementary · 3.2 mi away
Margate City School District
Secondary · 3.7 mi away
William H Ross School
Elementary · 3.8 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 53 12Th Ave, Paterson City, NJ | $575,000 | 6 | 4 | — |
| 66 Isabella Ave, Newark City, NJ | $575,000 | 8 | 2 | — |
| 119 WOODLAWN AVE, Jersey City, NJ | $579,000 | 7 | — | — |
| 966 E 24Th St, Paterson City, NJ | $580,000 | 7 | 3 | — |
| 50 Eaton Pl, East Orange City, NJ | $588,000 | 7 | 3 | 19,998 |
| 79 Godwin Ave, Paterson City, NJ | $589,000 | 6 | 3 | — |
Moving Cost Estimate
EXIT Agents in Atlantic City
Listing Courtesy: CENTURY 21 ALLIANCE-O1O4J