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1 S Delancy Place #1,  Atlantic City NJ, 08401

(Active)
$1,000,000
|
3,900 sqft
|
MLS# NJAC2012294
Last Updated: 5/19/2024 2:43 AM
Description for 1 S Delancy Place #1 Atlantic City, NJ 08401
Introducing a prime CRE opportunity in Atlantic City's Chelsea Heights: a lucrative 6-unit apartment building that's a true money maker! This property features an ultra-luxurious 2-bedroom unit currently rented out via Airbnb, generating an impressive $30,000 in less than a year of operation. With its stellar 5-star reviews, the potential for revenue growth is sky-high. Plus, imagine indulging in this swanky pad as your very own owner's unit or vacation getaway!Of the remaining units, three have been recently renovated to modern standards, while the two others are clean and solid, offering the perfect canvas for renovation to further increase rents. All units are currently leased below market rates, making this an exceptional value-add investment opportunity.Nestled in the desirable Chelsea Heights, the building is conveniently located under two blocks from the beach at Bartram's Garden, featuring a beautiful grass area and restrooms. Just a short stroll away, you'll find the bay, Stockton College, and the renowned Knife and Fork Inn and Restaurant. And with easy access to all that Atlantic City, Ventnor, Margate, and Longport have to offer, this property is in the heart of it all.Don't miss out on this incredible investment opportunity - seize it before someone else does!
Price
$1,000,000
ATLANTIC CITY
ATLANTIC
3,900 (approx)
NJAC2012294
Active
Description
Introducing a prime CRE opportunity in Atlantic City's Chelsea Heights: a lucrative 6-unit apartment building that's a true money maker! This property features an ultra-luxurious 2-bedroom unit currently rented out via Airbnb, generating an impressive $30,000 in less than a year of operation. With its stellar 5-star reviews, the potential for revenue growth is sky-high. Plus, imagine indulging in this swanky pad as your very own owner's unit or vacation getaway!Of the remaining units, three have been recently renovated to modern standards, while the two others are clean and solid, offering the perfect canvas for renovation to further increase rents. All units are currently leased below market rates, making this an exceptional value-add investment opportunity.Nestled in the desirable Chelsea Heights, the building is conveniently located under two blocks from the beach at Bartram's Garden, featuring a beautiful grass area and restrooms. Just a short stroll away, you'll find the bay, Stockton College, and the renowned Knife and Fork Inn and Restaurant. And with easy access to all that Atlantic City, Ventnor, Margate, and Longport have to offer, this property is in the heart of it all.Don't miss out on this incredible investment opportunity - seize it before someone else does!
Listing Information
Property Type: Business Opportunities, Other
0.06 Acres 3,900 (approx) 1930
Frame
ATLANTIC CITY
Public
Public Sewer
Neighborhood
Room Information
Interior Features
Electric Water Heater
Central Air
Other, Central
Exterior / Lot Features
On Street
Frame
32.00 x 75.00
Driving Directions
use GPS
Financial Considerations
02-00204-00001
$9,625
Listing Price History

Atlantic City Real Estate

Atlantic City is located in New Jersey. Atlantic City, New Jersey 08401 has a population of 37,784.

The median household income for the surrounding county is $64,989 compared to the national median of $66,222. The median age of people living in Atlantic City 08401 is 42 years.

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Courtesy: Real of Pennsylvania
BRIGHT MLS - All information, regardless of source, should be verified by personal inspection by and/or with the appropriate professional(s). The information is not guaranteed. Measurements are solely for the purpose of marketing, may not be exact, and should not be relied upon for loan, valuation, or other purposes.
This content last refreshed on 5/19/2024 2:43 AM CST. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.

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