112 S Raleigh Ave - Apartments FOR SALE


Atlantic City, NJ 08401- Lower Chelsea
$1,350,000 USD
609-289-1139
112 S Raleigh Ave, Atlantic City, NJ for Sale
$1,350,000 USD
Apartments - FOR SALE
1/13
null | Request Cap Rate

112 S Raleigh Ave
Atlantic City, NJ 08401
Lower Chelsea


OVERVIEW

Exceptional turnkey beach block income-producing triplex. Just the third property from the world-famous beach and Boardwalk in the LowerChelsea area of Atlantic City, this legal triplex represents the ultimate shore investment opportunity. Ideally positioned near major island entrypoints, restaurants, casinos, and entertainment, this is prime real estate in the center of it all. Whether you’re searching for a shore property that helps pay for itself or a powerful addition to your investment portfolio, this property delivers impressive versatility and strong income potential.The building features two upper-level units, each offering approximately 1,500 square feet with four bedrooms, two bathrooms, and beautiful ocean views. The spacious first-floor and basement unit spans two levels and includes five bedrooms and three bathrooms, providing exceptional space and flexibility for large groups or extended stays. With substantial square footage across all three residences, the propertyhas strong rental appeal for both short-term and long-term tenants. In the past few years the property has excellent short term rental history.Updates throughout have been thoughtfully completed to create an elevated and comfortable experience for occupants, enhancing both desirability and revenue performance. The water heater is 1.5 years old, the exterior was updated 5 years ago, the central ac system is 3 years old - each floor has its own mechanicals except the water heater is central. An income and expense summary is available for review, and the current short-term rental management company is willing to continue its partnership with the new owner at a legacy rate, offering a seamless transition. Being truly turnkey, the property is offered fully furnished. Beach block. Legal triplex. Ocean views. Proven income. Endless possibilities.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$251 USD /SF

# OF UNITS

3

PRICE/UNIT

$450,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1920

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.07 AC

LAND SF

3,049 SF

ZONING

R-2

APN/PARCEL ID

02-00011-0000-00008

ASK ABOUT THIS PROPERTY

Mary Lou FerryFarley & Ferry RealtyMore Info
609-289-1139

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Mary Lou FerryFarley & Ferry RealtyMore Info
609-289-1139

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.