Investment Overview

Marcus & Millichap is pleased to present 112 S. Raleigh Avenue, a 3-unit short-term rental property located just a few steps from the beach in Atlantic City, NJ. The 5,300 Square Foot building contains three short-term rental units, each of which has been beautifully renovated. Atlantic City is the seaside gaming and resort capital of the East Coast, hosting over 27 million visitors a year, making it one of the most popular tourist destinations in the United States. Construction on Atlantic City’s world-famous Boardwalk began in 1870, and from then on it has become an America icon. Stroll along the Boardwalk and enjoy ocean views on one side and shopping on the other, ranging from high-end retail to saltwater taffy shops. More than $1.7 billion in investments in recent years has enhanced Atlantic City’s magnetic appeal with world-renowned casinos resorts and hotels, big name restaurants featuring famous chefs, unique attractions, headline entertainment, luxurious spas, championship golf, elite shopping and more. Atlantic City is only an hour from Philadelphia and two-and-a-half hours from New York City. This turnkey short-term rental property features three spacious units, each thoughtfully updated with modern finishes, stylish kitchens, and central HVAC. The crown jewel is a two-story unit boasting six bedrooms and three full bathrooms across nearly 3,000 square feet, while the other two units each offer four bedrooms and two bathrooms with approximately 1,500 square feet of living space. Outdoor amenities include a newly built backyard deck and an outdoor shower hook-up, perfect for guests returning from the beach. The investment provides investors the opportunity to acquire a very well-maintained, turnkey, cash flowing property in an incredibly strong short-term rental market. The property sits just 20 feet from the beach and is located less than half a mile from the Atlantic City/Ventnor Border. Located just blocks from the new Stockton University Atlantic City campus and close to the Convention Center, the property benefits from year-round demand from students, faculty, and event attendees. Atlantic City is easily accessible from Philadelphia, New York City, and other major metro areas, making it a convenient weekend destination and increasing the pool of potential renters. With over 21% of homes seasonally occupied and a high percentage of short-term rentals, the neighborhood is well-suited for Airbnb-style investments. This trend supports consistent rental income and high ROI potential, and home prices in Lower Chelsea have seen significant growth, with a 28.4% year-over-year increase in median sale price. This upward trend signals strong appreciation potential for investors.