Atlantic City, NJ
Property Type: MultifamilySize: 194 Units
Price: See Broker for Details
CAP: See Broker for Details
Highlights:
- 194 Condominium Units Located in Atlantic City, New Jersey
- Excellent Basis with Steady Cash Flow In-Place
- Notable Upside Through Below-Market Rents and In-Unit Renovations; Limited Comparable Inventory in the Submarket
- Ability to Increase Unit Count Over Time by Purchasing Remaining 28 Units
- Fifteen Story Concrete Construction Completed Circa 1985
- Each Unit Contains Washer/Dryer Hookups, and Large Private Balconies with Water Views
- Centrally Located with Access to Public Transportation and Area Highways; Proximate to Borgata, the Beach, Dining and Nightlife
Description:
Marcus & Millichap is pleased to present for sale The High Gate Apartments, a high-rise apartment building located in Atlantic City, New Jersey. The offering is for 194 condominium units in the building, which has 222 units total.
The High Gate Apartments represents a compelling investment opportunity in the revitalizing Atlantic City multifamily market. Located within proximity to major employers, transportation, and the Atlantic City Boardwalk, this asset provides steady cash flow with notable upside through continued capital improvements and operational optimization.
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