Fully Renovated Legal
42 S Delancy Place Atlantic City, NJ 08401
For Sale
$890,000
MULTI_FAMILY - Atlantic City, NJ
Property Size2,551 SF
Price / SF$348.88
Days on Market66
Property Features for 42 S Delancy Place
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Standard status
- Active
- Size
- 2,551 SF
Building Details
- Year built
- 1925
Listing Agency:
BHHS Fox & Roach Northfield
Listed By:
Jessica Ngan · License #1861934
(609) 892-8888
Added: May 19
Changed: Jul 23
Last Checked: Jul 23 at 1:06PM
MLS# 608015
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.
This fully renovated legal triplex offers three distinct residential units. The lower-level unit includes two bedrooms and one full bathroom, along with a living room, dining room, and kitchen. The main-level unit features a living room, dining room, kitchen, sunroom, multiple bonus rooms, and rear deck access, plus an upper-level sleeping area with a primary bedroom, two additional bedrooms, and a full bathroom. The third-floor unit includes two bedrooms, one full bathroom, and a combined sitting room with an eat-in kitchen. The top-floor unit operates on electric service.
The property is located in Lower Chelsea, approximately 1.5 blocks from the shoreline. It also provides a private driveway accommodating three or more vehicles, with additional street parking available nearby.
With no current lease obligations noted, the units provide flexibility for an owner-occupant or investor arrangement based on future occupancy terms.
The property is located in Lower Chelsea, approximately 1.5 blocks from the shoreline. It also provides a private driveway accommodating three or more vehicles, with additional street parking available nearby.
With no current lease obligations noted, the units provide flexibility for an owner-occupant or investor arrangement based on future occupancy terms.
Key Highlights
- Fully renovated legal triplex built in 1925 with three distinct residential units
- About 1.5 blocks to the shoreline, near the beach and boardwalk in Lower Chelsea
- Lower‑level unit: 2BR/1BA with living room, dining room, and kitchen
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 | $44.4k | $17.40 |
| − Vacancy | −$2.9k | −$1.13 |
| EGI | $41.5k | $16.27 |
| − OpEx | −$12.5k | −$4.88 |
| NOI | $29.1k | $11.39 |
2,551 SF · lease $17.40/SF/yr · vacancy 6.50% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Fully renovated legal triplex with three residential units, private driveway parking, and electric service for the top-floor unit.
Where is this triplex located?
The property is located at 42 S Delancy Place 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: Fully renovated legal triplex built in 1925 with three distinct residential units; About 1.5 blocks to the shoreline, near the beach and boardwalk in Lower Chelsea; Lower‑level unit: 2BR/1BA with living room, dining room, and kitchen
