It’s not very often these days that a beach-block triplex comes on the market at the Jersey Shore, let alone one as beautifully restored and expertly renovated as is the century-old, green-roofed Tuscan-style architectural gem, guarded by two vintage stone lions, that’s now being offered at 102 S. Raleigh Ave. in the heart of Atlantic City’s highly desirable Lower Chelsea district.
What makes this property especially enticing is a combination of the elegance, spacious rooms and aesthetic appeal with which it was endowed by the Ronzoni family (of pasta fame) who built it back in 1920, and the professional makeover it’s been given by current owner Robert Swarbrick, a Philadelphia developer who specializes in the preservation of vintage buildings and homes and who has been using the three-bedroom, two-bath upper level of this one as his personal vacation residence for the last 15 years.
Taken together with a location that’s just steps from the beach and boardwalk, and within easy walking distance of several boardwalk casinos and the new campus of Stockton University, as well as a number of popular eateries, including the landmark Knife and Fork Inn, and has a relatively modest asking price of $775,000, this transcendent triplex is nothing short of a resort real-estate trifecta.
In addition to the main unit, the three-bedroom, two-and-a-half bath rental apartment on the floor below it and two-bedroom, one-bath unit on the ground level can also serve a new owner as a source of supplemental income (just as they have for Swarbrick, who says both are currently leased to very stable and reliable tenants). All three apartments come with fully equipped, beautifully remodeled eat-in kitchens with attractive cabinetry and granite countertops, along with their own washer/driers,
Swarbrick says one of the features he likes best about his top-floor quarters is that there are no fewer than two dozen windows surrounding the entire interior, creating a very light and airy environment. The unit also features both an expansive front deck that gets the sun in the morning and looks out toward the ocean, and a rear deck that comes with an oversized grille, both of which have ornamental safety railings. The unit beneath it opens onto a wide, traditional front porch, and the smaller ground-floor unit has a back porch, so that the occupants of the entire building all have access to their own private exterior spaces where they can sit outside and enjoy the sea breezes. There is also an outdoor enclosed shower that’s accessible to all three units.
As for the upgrades he’s made in recent years, they include his having replaced all the plumbing and electrical fixtures, refurbished the bathrooms, replaced the hardwood flooring, installed new heating and central air-conditioning systems, and coated the entire original stucco exterior with Dryvit, a high-quality insulated cladding material that helps ensure maximum energy efficiency. That way, he says whoever buys it will have “no deferred maintenance problems.”
An additional convenience is a one-car garage, which Swarbrick says he has been using to store bicycles and beach equipment, a driveway large enough to park up to four cars, and ample street parking for the occupants of the two rental units.
The current contents of the top-floor unit are also negotiable, he notes, so should a new owner wish to keep it furnished the way it is now, they can simply move right in upon taking possession.
The neighborhood is also one of the safest ones in Atlantic City, Swarbrick points out, with the Warwick Condominiums being right across the street, and has had no problems with flooding.
“Years ago, I was told by a municipal building inspector that this was the nicest triplex he had ever seen in Atlantic City,” he recalls, adding, “and I think that’s still a fitting description.”
If you think you might like to be the new owner of this classic, three-tiered combo of vacation home and income-generating property, you should waste no time in contacting listing agent Donna M. Palazzo-Burnside of Balsley-Losco Realty in Ventnor at (609) 412-6917 (direct line) or (609) 437-2295 (office number) or at email@example.com.