Property
Atlantic City, NJ 08401 2801 Arctic Avenue
$499,000
10 more
Presented By: Coldwell Banker Residential Brokerage - Warren
Beds • 5
Home Details
Prime location near famous casinos and the boardwalk, featuring a restaurant, employee apartments, and untapped potential a Triple-Level Gem! This is a fantastic opportunity for first-time homebuyers to live on the third floor and rent out the other two levels to potentially cover the mortgage, or for investors seeking strong rental income. The ground floor houses a well-established restaurant operating for over six years, adding great value. The second floor is now vacant and offers 3 spacious bedrooms and a full bath ideal for rental or personal use. The third floor is also vacant, boasting 2 commodious bedrooms, generous living space, and a full bath. Property is being sold strictly in "as-is" condition. Dont miss this income-generating opportunity in a high-demand area!
Presented By: Coldwell Banker Residential Brokerage - Warren
Interior Features for 2801 Arctic Avenue
Bedrooms
Three Bedroom Units Count1
Other Interior Features
LivingAreaSourceAssessor
Basement (Y/N)No
Central Air Y/NNo
Fireplace Y/NNo
FlooringHardwood, Carpet, Laminated, Tile/Brick
Furnished UnitsNone
Heating FuelNatural Gas Available, Electric
Heating Y/NYes
Hot WaterNatural Gas, Electric
Interior AmenitiesBathroom - Stall Shower, Ceiling Fan(s), Combination Dining/Living, Combination Kitchen/Dining, Other
Number of Elevators
Total Stories3
General for 2801 Arctic Avenue
Acceptable FinancingCash, Conventional, FHA, FHA 203(k), VA, Other
AccessibilityNone
Architectural StyleOther
Association Recreation FeeN
Cap Rate11.26
CityATLANTIC CITY
Construction MaterialsConcrete, Other
Cool FuelNone
CoolingCeiling Fan(s), Window Unit(s)
CountyATLANTIC
DirectionsKeep left on GSPkwy S, Exit 38A to Atlantic City Expy E, Right on Fairmount Ave, Left on N Brighton Ave, Left on Arctic Ave to 2801 Arctic Ave
DisclosuresNone
Garage Y/NNo
Gross Income33600.00
HeatingBaseboard - Electric
Historic Y/NNo
Home Warranty Y/NNo
Lease TypeMonth to Month, Long Term
Location TypeCorner Lot/Unit
Lot Size Square Feet1102.00
Lot Size UnitsSquare Feet
MLS AreaAtlantic City (20102)
ModificationTimestamp2025-08-04T13:33:03
MunicipalityATLANTIC CITY
Net Operating Income21265.00
New ConstructionNo
Number Of Units Total3
Number of Units Leased1
NumberOfUnitsVacant1
One Bedroom Units Count
Other StructuresAbove Grade, Below Grade
Other UnitsUnit 1
OwnerPaysInsurance, Repairs, Sewer, Taxes - Real Estate
OwnershipFee Simple
PossessionNegotiable, Immediate
Price Per Sq Ft Total AG154.97
Property ConditionAverage
Property SubtypeTriplex
Property TypeMulti-Family
Rent Control Y/NNo
RoofFlat, Rubber
School DistrictATLANTIC CITY SCHOOLS
SewerPublic Sewer
Single Room Units Count0
Standard StatusActive
StatusACTIVE
Structure TypeOver Storefront
Tax Annual Amount6886.0
Tax Assessed Value199500.0
Tax Lot00062
Tax Year2024
Total Actual Rent33600.00
Total Rooms9
Total SQFT3220
TransportationBus Stop less than 1 mile, Commuter Rail Station less than 1 mile
Two Bedroom1
UtilitiesSewer Available, Water Available, Natural Gas Available, Electric Available, Cable TV Available
Vacation Rental Y/NNo
ViewCity, Street, Water
Water Access Y/NNo
Year Built1965
Year Built SourceAssessor
ZoningNC-1
Exterior for 2801 Arctic Avenue
Exterior AmenitiesSidewalks, Street Lights
Land Assessed Value41200.00
Land Use Code
Lot Dimensions18.10 x 61.00
Lot FeaturesCorner
Lot Size Acres0.03
Lot Size SourceAssessor
LotDimensionsSourceAssessor
Navigable Water Y/NNo
Parking FeaturesPublic
PoolNo Pool
Road ResponsibilityCity/County
Road Surface TypeBlack Top
Soil TypesUnknown
SpaNo
Type of ParkingOn Street
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NYes
Waterfront Y/NNo
Additional Details
Price History
Schools
High School
Atlantic City H.S.
Elementary School
Dr. Martin Luther King School Elementary School
Middle School
Texas Avenue School Middle School
Brian Lee
Associate