Address
1 S Delancy Place # 1, Atlantic City, NJ
Price
$ 1,000,000
Property Attributes
- MLS#NJAC2012294
- TypeCommercial
- CountyATLANTIC
- CityAtlantic City
- AreaAtlantic City
- NeighborhoodAtlantic City
- Zip08401
- StyleApartment Building
- Year Built1930
- Taxes$ 9625
- Price$ 1,000,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage3900
- Lot Size2,614 SqFt
Data Source:
Bright MLS
Property 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!
| Price History | |
|---|---|
| 5/2/2024 | Listed $1,000,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Central |
| Cooling | Central A/C |
| Possession | 0-30 Days CD,31-60 Days CD,61-90 Days CD |
| Zoning | R-2 |
| Construction Materials | Frame |
| Year Built | 1930 |
| Unit Number | 1 |
| Property SubType | Five Or More Units |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Natural Gas |
| Business Type | Apartment Building |
| Accessibility | None |
| County | ATLANTIC |
| Net Operating Income | 72350.00 |
| New Construction | No |
| Property Type | Commercial Sale |
| Subdivision Name | ATLANTIC CITY |
| Water Access Y/N | No |
| Status | ACTIVE |
| Directions | use GPS |
| ModificationTimestamp | 2024-05-02T16:25:02 |
| City | ATLANTIC CITY |
| Buyer Agent Compensation | 2.5 |
| Disclosures | Agent has Financial Interest,Owner RE Licensee |
| MLS Area | Atlantic City (20102) |
| Lot Size Square Feet | 2400.00 |
| Tax Assessed Value | 270000.0 |
| Waterfront Y/N | No |
| Street Name | DELANCY |
| Tax Annual Amount | 9625.0 |
| Price Per Sq Ft | 256.41 |
| Vacation Rental Y/N | No |
| Days on Market | 1 |
| Standard Status | Active |
| Year Built Source | Assessor |
| Tax Lot | 00001 |
| Total Actual Rent | 88800.00 |
| Cap Rate | 7.25 |
| Buyer Agent Compensation Type | % Of Gross |
| Association Recreation Fee | No |
Interior Features
| Heating Fuel | Central |
|---|---|
| Hot Water | Electric |
| Heating Y/N | Yes |
| Street Suffix | PLACE |
| Central Air Y/N | Yes |
| Entry Level | 1 |
Exterior Features
| Water Source | Public |
|---|---|
| Type of Parking | On Street |
| Foundation Details | Block |
| Water View Y/N | No |
| Building Area Total | 3900.00 |
| Lot Dimensions | 32.00 x 75.00 |
| Lot Size Acres | 0.06 |
| Lot Size Units | Square Feet |
| Lot Size Source | Assessor |
| Land Assessed Value | 60000.00 |
| Navigable Water Y/N | No |
| Water Oriented Y/N | No |
| LotDimensionsSource | Assessor |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 08401
Price
Taxes
Visits
Year Built
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