1329 Pacific AveAtlantic City, NJ 08401

This exceptional 84-unit apartment building, the Carlton Apartments, presents a compelling investment opportunity in the heart of Atlantic City, New Jersey. Built in 1927, this ten-story building boasts a prime location, just steps from the Atlantic City Boardwalk and within walking distance of casinos, shopping at Tanger Outlets, and the vibrant downtown area. The property comprises a mix of studio, one-bedroom, and two-bedroom units, offering diverse housing options. With a total of 84 units and an asking price of $6,500,000, this translates to a price per unit of $77,381. The building's strong location offers significant upside potential, estimated at $375+ per unit in rental income. The property has been under the same international ownership for over 40 years, indicating a history of stable management. Its proximity to the beach and the train station (a 15-minute walk) further enhances its appeal to a wide range of tenants. This is a rare chance to acquire a well-established multifamily property in a thriving coastal city with substantial growth potential. The building's solid history and prime location make it an attractive investment for both seasoned and emerging real estate investors.