$3,200,000
$3,349,000
4.4%For more information regarding the value of a property, please contact us for a free consultation.
10 Beds
SOLD DATE : 04/01/2025
Key Details
Sold Price $3,200,000
Property Type Multi-Family
Sub Type 11 - 20 Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 573902
Sold Date 04/01/25
Bedrooms 10
Year Built 1955
Annual Tax Amount $11,341
Tax Year 2022
Property Sub-Type 11 - 20 Units
Property Description
Margate Investment and or Development Project!! Currently an Apartment complex consisting of 11 residential units. 10 one bedroom units and one efficiency. Laundry room on site and all units include a balcony and or porch. Electric heat paid by tenancy. Lease information available in associate documents. The complex sits on a lot 131 X125 close to bay and popular fine dining. Margate zoning officials have confirmed from a development perspective in WSD zone the permitted property developed allows for 7 townhomes with commercial below approximately 2000 square ft or possibly 5 single family homes @3200 square ft each. Use variance may be required for either. We recommend buyer reviews their plan with zoning. The location welcomes new construction and is an awe-inspiring opportunity in an extremely sought after location and trending neighborhood. Manifest your design strategy in Margate!
Location
State NJ
County Atlantic
Community Margate
Area Margate City
Interior
Heating Electric
Exterior
Parking Features None
Building
Sewer Public Sewer
Water Public
Others
Senior Community No
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President/Broker of Record | License ID: 9693664