Renovated Triplex with Private
For Sale
$890,000
42 S Delancy Pl, Atlantic City, NJ 08401
Three residential units offer flexible occupancy options near the shoreline, boardwalk, dining, entertainment, and public transportation.
Property Size2,551 SF
Price / SF$348.88
Days on Market67
Property Features for 42 S Delancy Pl
General Information
Standard status
Active
Size
2,551 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
3
Building Details
Year Built
1925
Buildings
1
Listing Agency:
BHHS FOX and ROACH-Northfield
Listed By:
JESSICA NGAN, ABR · License #SP1861934
(609) 892-8888
Source:
Southjerseyshorehomesfinder
Added: Aug 4
Changed: Sep 10
Last Checked: Oct 7 at 1:50PM
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 BHHS FOX and ROACH-Northfield
Investment Insights
Based on property information with market context.
This legal triplex contains 2,551 square feet and was renovated within the last five years. The lower residence includes two bedrooms, a full bath, living and dining rooms, and a kitchen. The main residence spans the primary and upper levels with living and dining areas, a kitchen, sunroom, bonus rooms, rear deck access, and four bedrooms across the layout, including an upper sleeping area with a full bath. The third-floor unit provides two bedrooms, a full bath, and a sitting area combined with an eat-in kitchen. Electric service serves the top-floor unit.
A private driveway accommodates three or more vehicles, with additional street parking available. The property at 42 S Delancy Pl is approximately 1.5 blocks from the shoreline and offers access to the boardwalk, beaches, restaurants, entertainment venues, local attractions, and public transportation. With no current lease obligations, occupancy arrangements can be structured around owner use, seasonal occupancy, or rental operations, subject to buyer and tenant agreements.
A private driveway accommodates three or more vehicles, with additional street parking available. The property at 42 S Delancy Pl is approximately 1.5 blocks from the shoreline and offers access to the boardwalk, beaches, restaurants, entertainment venues, local attractions, and public transportation. With no current lease obligations, occupancy arrangements can be structured around owner use, seasonal occupancy, or rental operations, subject to buyer and tenant agreements.
Key Highlights
- Legal triplex totaling 2,551 square feet
- Renovated within the last five years
- Three distinct residential units with flexible layouts
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,052
Cap Rate
3.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$581,040
$581.0K
Cap Rate 7%
$415,029
$415.0K
Cap Rate 9%
$322,800
$322.8K
Market Conditions
NOI Build-Up for 2,551 SF
Gross rent
$44.4K $17.40/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$41.5K $16.27/SF
− OpEx
−$12.5K −$4.88/SF
NOI
$29.1K $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%
$581,040
Cap Rate 7%
$415,029
Cap Rate 9%
$322,800
Alternative Uses
Best Use
Multifamily LT 5
$415.0K
$363.2K – $484.2K
NOI $29,052 @ 7.0% cap · market cap 3.26%
Second Best
Apartment 5plus
$364.8K
$319.2K – $425.6K
NOI $25,535 @ 7.0% cap · market cap 2.87%
Theoretical Best
Warehouse
$950.0K
$831.2K – $1.11M
NOI $66,498 @ 7.0% cap · market cap 7.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
849
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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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units offer flexible occupancy options near the shoreline, boardwalk, dining, entertainment, and public transportation.
Where is this triplex located?
The property is located at 42 S Delancy Pl Atlantic City, NJ.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: Legal triplex totaling 2,551 square feet; Renovated within the last five years; Three distinct residential units with flexible layouts
