For Sale 1 Delancy Pl, Atlantic City, NJ, 08401

Welcome to 16 S. Delancy Place, Atlantic City – a beautifully remodeled home in the heart of Lower Chelsea, just a block and a half from the beach and boardwalk! This stunning single-family residence seamlessly blends modern updates with original finishes, showcasing timeless charm. The main living area boasts five spacious bedrooms and three full baths, while the ground level offers a large in-law suite complete with two bedrooms and one bath, perfect for extended family or guests. The home’s character shines through with its refinished pine flooring, preserved original trim, and a wraparound front porch, ideal for relaxing and enjoying the coastal breeze. The recently renovated kitchen features an open floor plan with new cabinetry, appliances, and ceramic tile, creating an inviting space for entertaining. The upgrades continue with an owners suite complete with a luxurious new bathroom and walk-in closet, along with enhanced second-floor baths. Outside, you’ll find ample (3 car) off-street parking, a one-car garage, extra storage, and the newly refinished wrap around front porch. Located minutes from Atlantic City\'s vibrant attractions, including the beach, boardwalk, world-class casinos, fine dining restaurants, and Stockton University, this home offers the best of beach and city living. Whether you’re searching for a full-time residence, summer retreat, or Airbnb investment, 16 S. Delancy is the perfect blend of convenience and coastal charm. Don’t miss the chance to view this must-see property!

CASH FLOWING 5-UNIT APARTMENT BUILDING only a couple of blocks from the Beach on the Ventnor side of Atlantic City! Instant cash flow in a great area of the City where your occupancy rate will be incredibly high with the proximity to the water and other amenities. All CCOs & 5 year state inspection are in hand. Owner recently made major updates to the property and increased rents to market rent, making this a turnkey opportunity for your portfolio. The 2 units in the photos were empty at the time photos were taken, but will be filled prior to settlement. The other 3 units are currently filled and are of similar condition. The pro forma rent roll is $103,200.00 annually in gross rent revenue, $8,600.00 per month. Tenants pay their own electric. Owner pays Insurance, Taxes, Water/Sewer, and Gas. Pro Forma NOI comes to $76,333.00, making the pro forma Cap Rate 8.98% at the listing price, phenomenal for a property this close to the ocean! This property\'s appreciation value proposition is immense due to its proximity to Ventnor Beach, Stockton University, and Richmond Avenue School in AC. Enjoy the prospect of cash flow on day 1, high occupancy rates, and appreciation potential that this property offers.

Just two blocks from the beach and boardwalk, this property offers spacious apartments featuring a living area, kitchen, generously sized bedrooms, and carpeting throughout. With the landlord covering heat and tenants responsible for all other utilities, these apartments are conveniently located close to everything. The rent roll includes a commercial space at $1,575/month (plus a share of utilities and water/sewer), and four apartments individually metered for gas and electric: Apt. 1 at $1,350, Apt. 2 at $1,200, Apt. 3 at $1,500, and Apt. 4 at $1,250. Heat and hot water are covered by the landlord, making this an excellent investment opportunity in a prime location.