Renovated Three-Unit
For Sale
$1,549,900
114 S Raleigh Ave, Atlantic City, NJ 08401
MULTI-FAMILY, Atlantic City, NJ
Property Size4,650 SF
Price / SF$333.31
Days on Market207
Property Features for 114 S Raleigh Ave
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
12
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 5, Bedroom 1, Bedroom 8, Bedroom 6, Bedroom 3, Bathroom 4, Living Room, Bedroom 9, Bathroom 3, Bathroom 2, Bedroom 12, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 6, Bedroom 7, Bedroom 10, Bedroom 11, Bathroom 5
Exterior features
Curbs, Ocean View, Sidewalks
Appliances
Dishwasher, Gas Stove, Microwave, Refrigerator, Self Cleaning Oven
Lot features
Beach Block, Water View
Directions
Located off of Atlantic Ave
Subdivision
Atlantic City
Standard status
Active
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
28473
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Water front
1
Amenities
in-unit laundry
central HVAC
private utilities
Building Details
Number of units
3
Listing Agency:
BHHS FOX and ROACH-Margate
(609) 822-4200
Listed By:
PAULA HARTMAN · License #SP-9807299
(609) 487-7234
Added: Mar 23
Changed: Oct 11
Last Checked: Oct 15 at 10:06PM
MLS# 605912
Copyright © 2026 South Jersey Shore Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This renovated triplex contains three 4-bedroom, 2-bathroom apartments, each measuring 1,550 square feet, for approximately 4,650 square feet in total. The residences feature open-concept interiors with quartz countertops, stainless steel appliances, center islands, modern bathrooms, in-unit laundry, central HVAC, and private utilities. Ocean views, sidewalks, and curbs add to the property's residential setting, while public water and public sewer serve the building.
Situated at 114 S Raleigh Ave in Atlantic City, the property is steps from the Atlantic City Boardwalk and minutes from casinos, dining, and entertainment. Each apartment includes a living area, kitchen, bedrooms, and bathrooms, with appliances including a dishwasher, gas stove, microwave, refrigerator, and self-cleaning oven.
Situated at 114 S Raleigh Ave in Atlantic City, the property is steps from the Atlantic City Boardwalk and minutes from casinos, dining, and entertainment. Each apartment includes a living area, kitchen, bedrooms, and bathrooms, with appliances including a dishwasher, gas stove, microwave, refrigerator, and self-cleaning oven.
Key Highlights
- Three 4‑bedroom, 2‑bathroom apartments
- Approximately 4,650 square feet total; each unit is 1,550 SF
- Fully renovated interiors with quartz countertops and stainless steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$52,956
Cap Rate
3.42%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,059,120
$1.1M
Cap Rate 7%
$756,514
$756.5K
Cap Rate 9%
$588,400
$588.4K
Market Conditions
NOI Build-Up for 4,650 SF
Gross rent
$80.9K $17.40/SF
− Vacancy
−$5.3K −$1.13/SF
EGI
$75.7K $16.27/SF
− OpEx
−$22.7K −$4.88/SF
NOI
$53.0K $11.39/SF
Area
Atlantic County, NJ
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,059,120
Cap Rate 7%
$756,514
Cap Rate 9%
$588,400
Alternative Uses
Best Use
Multifamily LT 5
$756.5K
$662.0K – $882.6K
NOI $52,956 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$664.9K
$581.8K – $775.8K
NOI $46,545 @ 7.0% cap · market cap 3.00%
Theoretical Best
Warehouse
$1.73M
$1.52M – $2.02M
NOI $121,214 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
763
Businesses Nearby
Explore this area
Business Placement
Demographics for 08401, NJ
38,536
Population
20,116
Households
1.9
Avg Household Size
38
Median Age
21%
College-Educated
76%
High-School Grad
10.7 sq mi
ZIP Area
3,601
Density / Sq Mi
$36,375
Median Household Income
$28,915
Median Earnings
$1,086
Median Rent
$189,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three fully renovated residences offer ocean views, private utilities, central HVAC, and in-unit laundry near the Atlantic City Boardwalk.
Where is this triplex located?
The property is located at 114 S Raleigh Ave Atlantic City, NJ.
What is the asking price?
The asking price for this property is $1,549,900.
What are key features of this property?
This property features: Three 4‑bedroom, 2‑bathroom apartments; Approximately 4,650 square feet total; each unit is 1,550 SF; Fully renovated interiors with quartz countertops and stainless steel appliances
