Click here to call 201-874-1287 2722 Atlantic Avenue | MLS #22612953 | RE/MAX of New Jersey
Lisa Peluso

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  • 55 days on site
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Prime investment opportunity in the heart of Atlantic City! Located at the corner of Atlantic and South Iowa Avenues , this 38-unit mixed-use elevator building sits immediately adjacent to the Tropicana Atlantic City, capturing incredible foot traffic. The 37,673 SF property features 32 residential units and 6 ground-floor retail storefronts. It currently generates a strong 8.60% cap rate on as-is NOI, with a clear path to a 9.55% pro forma cap rate. There is excellent value-add potential through the immediate lease-up of three vacant residential units, rent-control leniency on tenant turnover, and a gas-to-electric heat conversion opportunity. Asking price is $4,100,000.

Source: Monmouth Ocean Regional MLS, MLS#: 22612953

Listing provided courtesy of Imperial Real Estate Agency- MLS# 22612953MLS Provider
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  • Property Type
    Residential Income
  • Lot
    0.25 acres

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Lisa Peluso

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Owning this Home

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

Life at 2722 Atlantic Avenue

Schools


School data courtesy of LiveBy, Inc.
Ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating. The schools displayed on this website are for informational purposes only and may not represent a complete or up-to-date list. School assignments are subject to change and should be verified directly with the local school district. Please contact the appropriate school district to confirm school zoning and enrollment eligibility for this property.

History

Date Event Value Agent
5/17/2026Source: Monmouth Ocean Regional MLS Price Reduction
$3,800,000 -7.3%
5/6/2026Source: Monmouth Ocean Regional MLS Status Change
Active
5/5/2026Source: Monmouth Ocean Regional MLS Added to Database
May 05, 2026