112 S Raleigh Ave

Description

Motivated seller!! Exceptional turnkey beach block income-producing triplex. Just the third property from the world-famous beach and Boardwalk in the Lower Chelsea area of Atlantic City, this legal triplex represents the ultimate shore investment opportunity. Ideally positioned near major island entry points, restaurants, casinos, and entertainment, this is prime real estate in the center of it all. Whether you’re searching for a shore property that helps pay for itself or a powerful addition to your investment portfolio, this property delivers impressive versatility and strong income potential. The building features two upper-level units, each offering approximately 1,500 square feet with four bedrooms, two bathrooms, and beautiful ocean views. The spacious first-floor and basement unit spans two levels and includes five bedrooms and three bathrooms, providing exceptional space and flexibility for large groups or extended stays. With substantial square footage across all three residences, the property has strong rental appeal for both short-term and long-term tenants. In the past few years the property has excellent short term rental history. Updates throughout have been thoughtfully completed to create an elevated and comfortable experience for occupants, enhancing both desirability and revenue performance. The water heater is 1.5 years old, the exterior was updated 5 years ago, the central ac system is 3 years old - each floor has its own mechanicals except the water heater is central. An income and expense summary is available for review, and the current short-term rental management company is willing to continue its partnership with the new owner at a legacy rate of 12.5%, offering a seamless transition. Being truly turnkey, the property is offered fully furnished. Beach block. Legal triplex. Ocean views. Proven income. Endless possibilities.