Fully Renovated Triplex
114 S Raleigh Ave Atlantic City, NJ 08401
114 S Raleigh Ave, Atlantic City, NJ, 08401
$1,599,900
For Sale
$1,599,900
MULTI_FAMILY - Atlantic City, NJ
Property Size5,385 SF
Price / SF$297.10
Days on Market123
Property Features for 114 S Raleigh Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Standard status
- Active
- Size
- 5,385 SF
Listing agency
BHHS Fox & Roach Margate
Listed by
Paula Hartman · License #SP-9807299
(609) 271-7337
Added: Mar 23 Updated: Jul 23 at 6:36AM Checked: Jul 23 at 8:06AM
MLS# 605912
Copyright © 2026 Berkshire Hathaway HomeServices Fox & Roach, Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
For sale as a fully renovated investment, this triplex includes three designer apartments within the Residences at Raleigh. The property features three spacious 4-bedroom, 2-bath units, each designed around an open-concept layout. Interiors highlight quartz countertops, stainless steel appliances, and center islands, along with custom vanities and oversized walk-in showers or shower/tub combinations. Each unit also offers in-unit laundry, central HVAC, and private utilities.
Located in Atlantic City’s Historic Chelsea neighborhood, the residences are described as steps from the Atlantic City Boardwalk with ocean views, placing entertainment and dining nearby, including casinos within minutes.
The offering is presented as a turn-key, income-generating property suitable for long-term or short-term use based on the configuration of three separate units.
Located in Atlantic City’s Historic Chelsea neighborhood, the residences are described as steps from the Atlantic City Boardwalk with ocean views, placing entertainment and dining nearby, including casinos within minutes.
The offering is presented as a turn-key, income-generating property suitable for long-term or short-term use based on the configuration of three separate units.
Key Highlights
- Three fully renovated apartments in Atlantic City’s Chelsea neighborhood, just steps from the Boardwalk
- Triplex totals approx. 4,650 SF, with three 4‑bedroom, 2‑bath units (1,550 SF each)
- Ocean views from each residence with open‑concept living and center island kitchens
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 3.83%
Second Best
Apartment 5plus
$770.0K
$673.8K – $898.4K
NOI $53,902 @ 7.0% cap · market cap 3.37%
Theoretical Best
Warehouse
$2.01M
$1.75M – $2.34M
NOI $140,374 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Fully renovated triplex with three 4-bedroom, 2-bath units, each with in-unit laundry and central HVAC.
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 $1,599,900.
What are key features of this property?
This property features: Three fully renovated apartments in Atlantic City’s Chelsea neighborhood, just steps from the Boardwalk; Triplex totals approx. 4,650 SF, with three 4‑bedroom, 2‑bath units (1,550 SF each); Ocean views from each residence with open‑concept living and center island kitchens
