Turnkey Beach-Block
112 South Raleigh Avenue Atlantic City, NJ 08401
112 South Raleigh Avenue, Atlantic City, NJ, 08401
$1,350,000
For Sale
$1,350,000
Turnkey legal triplex offered fully furnished, with multiple bedrooms and recent mechanical and exterior updates.
Property Size5,385 SF
Price / SF$250.70
Days on Market152
Property Features for 112 South Raleigh Avenue
General Information
- Standard status
- Active
- Size
- 5,385 SF
- Property subtype
- MULTI-FAMILY / Triplex
Listing agency
Farley & Ferry Realty Inc
(609) 822-1836
Listed by
Mary Louise Ferry · License #8530847
(609) 822-1836
Source
Compass
Added: Feb 20 Updated: Jul 21 at 7:35PM Checked: Jul 21 at 7:35PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Farley & Ferry Realty Inc
Investment Insights
Based on property information with market context.
This turnkey, legal triplex is fully furnished and designed for income-producing use. The building includes two upper-level units and a spacious first-floor and basement unit that spans two levels. The two upper units each provide approximately 1,500 square feet with four bedrooms and two bathrooms, along with ocean views. The first-floor and basement unit offers five bedrooms and three bathrooms, providing additional space and flexibility.
Located just the third property from the beach and Boardwalk in the Lower Chelsea area of Atlantic City, the property is close to major island entry points, restaurants, casinos, and entertainment.
Recent updates include a water heater installed 1.5 years ago, a central AC system installed 3 years ago, and an exterior update completed 5 years ago. 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.
Located just the third property from the beach and Boardwalk in the Lower Chelsea area of Atlantic City, the property is close to major island entry points, restaurants, casinos, and entertainment.
Recent updates include a water heater installed 1.5 years ago, a central AC system installed 3 years ago, and an exterior update completed 5 years ago. 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.
Key Highlights
- Legal triplex on beach block in Atlantic City’s Lower Chelsea area, with ocean views
- Two upper units, each about 1,500 SF with 4 bedrooms and 2 bathrooms, plus ocean views
- First‑floor and basement unit spans two levels with 5 bedrooms and 3 bathrooms
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 | $93.7k | $17.40 |
| − Vacancy | −$6.1k | −$1.13 |
| EGI | $87.6k | $16.27 |
| − OpEx | −$26.3k | −$4.88 |
| NOI | $61.3k | $11.39 |
5,385 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$876.1K
$766.6K – $1.02M
NOI $61,326 @ 7.0% cap · market cap 4.54%
Second Best
Apartment 5plus
$770.0K
$673.8K – $898.4K
NOI $53,902 @ 7.0% cap · market cap 3.99%
Theoretical Best
Warehouse
$2.01M
$1.75M – $2.34M
NOI $140,374 @ 7.0% cap · market cap 10.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Turnkey legal triplex offered fully furnished, with multiple bedrooms and recent mechanical and exterior updates.
Where is this triplex located?
The property is located at 112 South Raleigh Avenue Atlantic City, NJ.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Legal triplex on beach block in Atlantic City’s Lower Chelsea area, with ocean views; Two upper units, each about 1,500 SF with 4 bedrooms and 2 bathrooms, plus ocean views; First‑floor and basement unit spans two levels with 5 bedrooms and 3 bathrooms
