Investor Opportunity – Value-Add Triplex in Northern Atlantic City Welcome to 1 S New Hampshire Avenue, a fully vacant triplex located in the northern section of Atlantic City, just minutes from the beach and surrounded by ongoing redevelopment. This property features three separate units: a 2-bedroom, 1-bath unit on the first floor, a 2-bedroom, 1-bath unit on the second floor, and a spacious 4-bedroom, 2-bath unit spanning the third and fourth floor. The building is being sold strictly as-is, with the buyer responsible for obtaining the Certificate of Occupancy and any municipal approvals. The property offers significant upside for the savvy investor. While it needs a full cosmetic renovation, comps in the area support strong rental income once stabilized. Conservative estimates place market rents at $1,600/month for the 2-bedroom units and $2,500/month for the 4-bedroom unit, giving this asset a potential gross annual rent roll of approximately $68,400. **Important disclosure**: the **first-floor unit experienced a pipe burst and is currently gutted**—listing photos show the unit *prior* to the damage and are intended to reflect its original layout. With all three units vacant and ready for rehab, this is a blank slate investment opportunity with serious cash-flow potential in a rapidly evolving section of Atlantic City. Easy to show—**schedule your tour today and bring your vision.**
Date | Event | Price | $/Sqft | Source |
---|---|---|---|---|
Listed For Sale | $395,000 | $∞ | MARCHESE REAL ESTATE, LLC |
Year | Annual Amount | Description |
---|---|---|
2024 | $5,755 |
Elementary & Middle School Uptown School Complex | 0.3 miles away | KG - 08 | |
Elementary School New Jersey Ave | 0.4 miles away | KG - 06 | |
Middle & High School Atlantic City Transition Day Prog. | 0.8 miles away | 06 - 12 |