REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 395,000
Est. payment /mo
Active
1 S New Hampshire Ave Atlantic City, NJ 08401
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID 598112
Year Built 1900
Annual Tax Amount $5,755
Tax Year 2024
Property Sub-Type Triplex
Property Description
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.**
Location
State NJ
County Atlantic
Community Atlantic City
Area Atlantic City
Location Details Historical District,Boardwalk Area,Water View
Interior
Heating Gas-Natural
Exterior
Exterior Feature Aluminum, Brick
Parking Features None
Building
Sewer Public Sewer
Water Public
Others
Senior Community No
Listed by MARCHESE REAL ESTATE, LLC
