Just a block and a half from the iconic Atlantic City Boardwalk, 6201 Atlantic Avenue presents an exceptional investment opportunity in a desirable shore location. This well-maintained, low-rise apartment building features 19 residential units, including seven one-bedroom apartments (each with a kitchen and bathroom) and 12 studio units, generating strong cash flow with a current cap rate exceeding 10%.
Owned by the same investor for 40 years, 6201 Atlantic Avenue is easy to manage and operates efficiently. All units are individually metered for electricity, with no gas lines, meaning tenants pay for their cooking, heating, and air conditioning. The owner is only responsible for water, common area electricity, and the recently replaced roof. Additional building features include a full fire alarm system, mailbox station, emergency stairwell, and on-site manager residing in a dedicated unit with tools and equipment.
Current gross rental income is approximately $255,406, with seller expenses around $55,719, resulting in a net annual income of $200,000. Two additional basement units not currently in use may offer further upside with city approval. The building is in a cozy, walkable neighborhood, close to shops, beaches, and local attractions, making it a strong candidate for continued long-term rental or potential seasonal/Airbnb conversion for even higher returns. A growing population of over 89,300 residents are within a 5-mile radius, representing an average household income of approximately $92,170 annually.
With minimal overhead, a stable tenant base, and a prime location near the Boardwalk, 6201 Atlantic Avenue is an ideal addition to any investment portfolio. The seller is retiring, creating a rare opportunity to acquire a proven income-producing asset in one of New Jersey's most popular coastal markets.
It is okay for an agent or potential buyers to drive around the building and look around but they must not open the door or enter without prior notice or make contact with the tenants.