Waterfront Duplex in Chelsea
1830 E Riverside Drive, Atlantic City, NJ 08400
MULTI_FAMILY - Atlantic City, NJ
Property size:
2,707 SFLot size:
0.07 AcresPrice / SF:
$162/SF- Added:
- Feb 25, 2026
- Days on Market:
- 99
- Last Refresh:
- Jun 4 at 9:06 pm
Property Features for 1830 E Riverside Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 3
- Rooms
- Bedroom 5, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 4, Bedroom 8, Bedroom 3, Bedroom 1, Bedroom 2, Bedroom 7, Bedroom 6
- Parking features
- Paved or Surfaced
- Patio and Porch features
- Patio, Deck
- Exterior features
- Deck
- Fencing
- Fenced
- Basement
- Crawl Space
- Standard status
- Active
- APN
- 02-00676-0000-00001
- Size
- 2,707 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 6507
Utilities
- Sewer type
- Public Sewer
- Heating system
- Baseboard
- Cooling system
- Multi Units
- Water source
- Public
- Water front features
- River Front
- Water front
- 1
Building Details
- Year built
- 1900
- Floors in Building
- 2
- Number of units
- 2
- Building materials
- Brick
Listing agent Philip Rizzo (732) 678-1328
Listing office RE/MAX Revolution 48 Brick Blvd., Lavallette, NJ (732) 678-1328
Listing date Feb 25, 2026
MLS# 22604815
Listing URL
Copyright © 2026 More MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Turnkey, fully renovated duplex in desirable Chelsea Heights.
- High‑yield investment opportunity with a projected 12% cap rate.
- Fully vacant: set market rents immediately or owner‑occupy one unit.
- Waterfront property with river frontage.
- Each unit features 4 bedrooms, updated kitchens and bathrooms.
- Convenient location: quiet neighborhood, minutes from major roadways, casinos, and the city.
Overview
This turnkey waterfront duplex is located in the Chelsea Heights section of Atlantic City. The fully renovated, move-in ready property offers an investment opportunity with projected returns delivering a 12% cap rate once fully rented. Both units are currently vacant, offering the flexibility to set market rents immediately or choose an owner-occupant strategy while leasing the second unit. Each unit features bright, spacious living areas with updated flooring throughout, fresh neutral paint, and abundant natural light. The kitchens feature white cabinetry creating a clean and modern feel. Bathrooms are well-maintained with classic tile surrounds and updated finishes. Both units include four bedrooms, providing rental appeal and income potential. The layout of both units is functional and inviting, with generous room sizes and multiple windows that enhance the natural light throughout the home. The property is located in a residential neighborhood, minutes from major roadways, waterfront access, casinos, and other city attractions. The property is positioned to produce cash flow from day one once leased. The property size is 2707 square feet and the lot size is 0.07 acres.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.1k | $17.40 |
| − Vacancy | −$3.1k | −$1.13 |
| EGI | $44.0k | $16.27 |
| − OpEx | −$13.2k | −$4.88 |
| NOI | $30.8k | $11.39 |
2,707 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$440.4K
$385.4K – $513.8K
NOI $30,828 @ 7.0% cap · market cap 7.01%
Second Best
Apartment 5plus
$387.1K
$338.7K – $451.6K
NOI $27,096 @ 7.0% cap · market cap 6.16%
Theoretical Best
Warehouse
$1.01M
$882.1K – $1.18M
NOI $70,565 @ 7.0% cap · market cap 16.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Atlantic City
- County
- Atlantic
- State
- New Jersey
- Longitude
- -74.444639
- Latitude
- 39.373863
Nearby Similar for Sale
FAQs
What type of property is this?
Duplex - Turnkey 2-family property in Atlantic City's Chelsea Heights.
Where is this duplex located?
The property is located at 1830 E Riverside Drive Atlantic City, NJ.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Turnkey, fully renovated duplex in desirable Chelsea Heights.; High‑yield investment opportunity with a projected 12% cap rate.; Fully vacant: set market rents immediately or owner‑occupy one unit.
