Memphis Bella Inn is Comprised of 15 Rooms on the Beach Block

  • $325,000
155 S Tennessee Ave
  • Investment, Multi-Family
  • Property Type

Memphis Bella Inn is Comprised of 15 Rooms on the Beach Block

155 S Tennessee Ave
  • $325,000

Overview

Property ID: LCRE-LCRE-5507
  • Investment, Multi-Family
  • Property Type
  • Address 155 S Tennessee Ave
  • City Atlantic City
  • State/county New Jersey
  • Zip/Postal Code 08401

Details

Updated on December 22, 2021 at 12:41 pm
  • Property ID: LCRE-LCRE-5507
  • Price: $325,000
  • Property Type: Investment, Multi-Family
  • Property Status: Sold
  • Block #: 54
  • Lot #: 16
  • Current Occupancy: 100%
  • Lot Dimensions: 34' x 50'
  • Number of Buildings: 1
  • Number of Units: 15
  • Number of Stories: 3
  • Frontage: 34'
  • Zoning: RS-C
  • Total Assessment: $225,000
  • Assessed Land Value: $50,000
  • Improvement Value: $175,000
  • Tax: $7,949
  • Tax Year: 2018
  • Construction/Siding: Wood Frame
  • Heating: Electric, Gas - Natural, Multi-Zoned
  • Hot Water: Gas
  • Location: Beach Block, Boardwalk Area
  • Sewer: Public
  • Specialty Rooms: Kitchen/Kitchenette
  • Water: Public

Description

Memphis Bella Inn is comprised of 15 rooms on the Beach Block of Tennessee Ave, former Bed & Breakfast. Current owner diligently maintains the building appropriately and is up to date on all licensing and inspections. Recent tax reduction due to successful Tax Appeal. Building is currently 100% occupied grossing $90,000. call for net breakdown and marketing package.

All information is from sources deemed to be reliable; however, no warranty or representation is made as to the accuracy of the information provided herein by LEVIN Commercial Real Estate, LLC. (its principals, employees or agents). All information is submitted subject to errors, omissions or changes of availability and/or terms, which may be changed without liability upon discovery or notice. Many factors affect property value and the prospect agrees to take full responsibility for adequately investigating any potential conditions that may affect their ownership or usage of the property. All are advised and expected to retain competent advice for legal, financial, construction, architectural, engineering or appraisal matters, or any similar expertise, as LEVIN Commercial Real Estate, LLC. is a real estate brokerage firm and does not represent itself as a qualified professional in any other discipline.

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