Address
105 S Victoria Avenue, Ventnor City, NJ
Price
$ 2,200,000
Property Attributes
- MLS#NJAC2012268
- TypeCommercial
- CountyATLANTIC
- CityVentnor City
- AreaVentnor City
- Zip08406
- StyleApartment Building
- Year Built1900
- Taxes$ 18619
- Price$ 2,200,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage7707
- Lot Size3,920 SqFt
Data Source:
Bright MLS
Property Description
OFFERED AS A RENTAL PROPERTY OR AS A REDEVELOPMENT OF CONDOS. Seize the opportunity to own a truly exceptional beach block property with options!! This 12-unit multifamily gem offers the perfect blend ofcomfort and convenience, featuring one-bedroom layouts with two distinct sizes 6 units spanning 400 sqft and the remaining 6 boasting 600sqft of living space. Currently, this property presents a unique investment opportunity, with only 4 units occupied out of the 12, 3 of which areunder active yearly leases. The potential for growth and income is immense, offering the chance to maximize returns in a prime beach blocklocation. Also an exceptional redevelopment opportunity with R9 zoning permitting Single family, townhomes or condos situated on a generous62.5x60 lot in the coveted B zone. It is important to note if this property is completely redeveloped due to City ordinance already in placestructure can be built 67 ft high by default and without a variance and that will make it the highest building in the entire beach block. Developersand builders please call to get all detailed information. The building is 7700 sq ft with finished basement and laundry room.The property enjoys the benefits of a high elevation, ensuring peace of mind for both residents and investors. SELLER represents that property has not been subject to flooding and no bank ever obligated seller to buy flood insurance during his 35 years ownership. During the Super Storm Sandy no water accumulated on Victoria Ave, not on the sidewalk, not on the street and not on the property itself. Heating is efficiently managed via oil, while separate electric and cooking gas meters provide added convenience and flexibility. This property presents a rare opportunity to become a part of the vibrant island life, with its burgeoning community and endless possibilities for redevelopment and enhancement. The property is sold in as is condition. Also Don't miss out on this chance to secure your slice of paradise and capitalize on the thriving beach block market schedule your viewing today!
| Price History | |
|---|---|
| 4/29/2024 | Listed $2,200,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Radiator |
| Cooling | Other |
| Possession | Settlement |
| Zoning | R9 |
| Construction Materials | Brick |
| Year Built | 1900 |
| Property SubType | Five Or More Units |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | None |
| Business Type | Apartment Building |
| Accessibility | Other |
| County | ATLANTIC |
| New Construction | No |
| Property Type | Commercial Sale |
| Water Access Y/N | No |
| Status | ACTIVE |
| Directions | Turn down from Atlantic Ave to S Victoria,beach block |
| ModificationTimestamp | 2024-04-29T13:16:04 |
| City | VENTNOR CITY |
| Buyer Agent Compensation | 2 |
| MLS Area | Ventnor City (20122) |
| Lot Size Square Feet | 3750.00 |
| Tax Assessed Value | 699700.0 |
| Waterfront Y/N | No |
| Street Name | VICTORIA |
| Tax Annual Amount | 18619.0 |
| Price Per Sq Ft | 285.45 |
| Historic Y/N | No |
| Lease Considered Y/N | No |
| Vacation Rental Y/N | No |
| Days on Market | 2 |
| Standard Status | Active |
| Year Built Source | Assessor |
| Tax Lot | 00005 |
| Buyer Agent Compensation Type | % Of Gross |
| Association Recreation Fee | No |
Interior Features
| Heating Fuel | Oil |
|---|---|
| Hot Water | Oil |
| Heating Y/N | Yes |
| Street Suffix | AVENUE |
| Central Air Y/N | No |
Exterior Features
| Water Source | Public |
|---|---|
| Type of Parking | Other |
| Water View Y/N | No |
| Building Area Total | 7707.00 |
| Lot Dimensions | 60.00 x 62.50 |
| Lot Size Acres | 0.09 |
| Water Body Type | Ocean |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Land Assessed Value | 391100.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | Yes |
| LotDimensionsSource | Assessor |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 08406
Price
Taxes
Visits
Year Built
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