205-207 Philadelphia Ave, Egg Harbor City, NJ 08215

$845,000

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List Price: $845,000
Days on Market: 465
Status: PENDING
MLS#: NJAC2000154
Lot Size (Acres): 0.08
Year Built: 1910
County: Atlantic
School District: Egg Harbor City Schools

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Property Description

Bank of America, Dental Care of Egg Harbor, LLC, two 3-bedroom apartments, 100% occupied. Lease with BOA started in 2013 for 15 years, has 7 years remaining. Years 16 to 30 go from $2927/month to $3,522.67/month. BOA reimburses 25% of all operating expenses. Dental Care lease is for 60 months with 2 five-year options at 3% bump per year. Dental Care just opened has ADA compliant bathroom. Leases escalate yearly. Buyer and seller will follow Bulk Sales Act, C9600, certified at least 10 days prior to settlement. 2nd floor two 3-BR apartments one at $1,200/month and one at $1,100/month. 4 units at 1,156 sf for total 4,624 sf. Cap Rate 7.66%. Located in busy commercial area near public transportation. Great Investment Opportunity! Call listing broker to show

609-400-3035

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Additional Information

Area: Egg Harbor City (20107)
Taxes: $7,694
Middle School: Fanny D Rittenberg
High School: Cedar Creek
Flooring: Wood
Heating: Radiator
Cooling: Central A/C
Roof: Asbestos Shingle
Water: Public
Sewer: Public Sewer