Renovated Triplex Near
42 South Delancy Place Atlantic City, NJ 08401
42 South Delancy Place, Atlantic City, NJ, 08401
$890,000
For Sale
$890,000
Fully renovated triplex near the beach with flexible occupancy.
Property Size2,551 SF
Price / SF$348.88
Days on Market62
Property Features for 42 South Delancy Place
General Information
- Standard status
- Active
- Size
- 2,551 SF
- Property subtype
- RESIDENTIAL / Single Family
Building Details
- Year Built
- 1925
Listing Agency
BHHS FOX and ROACH-Northfield
(609) 892-8888
Listed by
JESSICA NGAN, ABR · License #1861934
(609) 892-8888
Source
Compass
Added: May 21 Updated: Jul 10 at 1:33 pm Checked: Jul 19 at 4:07 am
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 renovated triplex is located approximately 1.5 blocks from the shoreline in Lower Chelsea, offering convenient access to the beach and boardwalk. The multi-unit property features three distinct residential units. The lower-level unit includes 2 bedrooms, 1 full bathroom, living room, dining room, and kitchen. The main-level unit features a living room, dining room, kitchen, sunroom, multiple bonus rooms, rear deck access, and an upper-level sleeping area that includes a primary bedroom, two additional bedrooms, and a full bathroom. The third-floor unit features 2 bedrooms, 1 full bathroom, and a combined sitting room with eat-in kitchen. The top-floor unit operates on electric service. The property includes a private driveway accommodating three or more vehicles, along with additional street parking. The property's central location provides convenient access to the boardwalk, beaches, dining establishments, entertainment options, and transportation. The property, totaling 2551 square feet, presents possibilities for owner occupancy, seasonal use, or income-producing purposes. With no current lease obligations, future occupancy arrangements remain flexible.
Key Highlights
- Fully renovated legal triplex, offering flexible living arrangements and income potential.
- Prime location: Approximately 1.5 blocks from the beach and boardwalk in Lower Chelsea.
- Three distinct residential units: lower‑level (2BR/1BA), main‑level (expansive layout with sunroom, deck access, and upper‑level sleeping area), and third‑floor (2BR/1BA).
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 | $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
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FAQs
What type of property is this?
Triplex - Fully renovated triplex near the beach with flexible occupancy.
Where is this triplex located?
The property is located at 42 South 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, offering flexible living arrangements and income potential.; Prime location: Approximately 1.5 blocks from the beach and boardwalk in Lower Chelsea.; Three distinct residential units: lower‑level (2BR/1BA), main‑level (expansive layout with sunroom, deck access, and upper‑level sleeping area), and third‑floor (2BR/1BA).
