Are you on the lookout for a promising investment opportunity in the bustling city of Atlantic City? Look no further! We present to you a remarkable investment property located in the heart of Atlantic City, offering an array of enticing features that are bound to appeal to seasoned investors and newcomers alike.
This exceptional property is a 2-story corner detached single-family home boasting three bedrooms and one bathroom. Situated in a prime location, this investment gem comes with a Section 8 tenant, currently paying $1300 per month. With a lease set to expire in June and the seller having received paperwork to increase the rent, this property offers excellent income potential.
In June of 2022, the property underwent a comprehensive inspection, passing with flying colors. This inspection ensures that the property is in good condition, providing peace of mind to potential investors. Moreover, the heating system and hot water facilities are just one year old, minimizing the need for any immediate repairs or replacements. The gas forced air heating system guarantees efficient and cost-effective heating during the colder months.
An additional advantage of this property is its affordable property taxes, which stood at $2470 in 2022. Such low taxes contribute to the property’s appeal for investors, maximizing potential profits and long-term returns on investment.
Not only does this investment property offer favorable financial aspects, but it also benefits from a tenant who covers all utilities except for water and sewer, which are conveniently paid by the seller. This arrangement ensures that the investor is not burdened with additional expenses, ultimately enhancing the property’s profitability.
It is worth noting that prospective buyers should be aware of the tenant’s requirement for a 24-hour notice before any showings. Showings are limited to Mondays and Fridays, between 11 am and 3 pm. This arrangement allows for a manageable schedule, ensuring minimal disruption to the tenant’s daily routine while still providing sufficient opportunities for interested investors to view the property.
Investing in Atlantic City’s real estate market has consistently proven to be a lucrative endeavor, and this investment property is no exception. With its prime location, reliable rental income, recent inspection clearance, up-to-date heating system, and reasonable property taxes, this property presents an enticing opportunity for investors seeking stable and profitable returns.
Whether you are an experienced investor looking to expand your portfolio or a novice eager to dip your toes into the real estate market, this Atlantic City investment property is a wise choice. Don’t miss out on this remarkable opportunity to secure a promising investment in one of Atlantic City’s most vibrant neighborhoods. Act now and reap the rewards of a well-planned investment strategy.
1708 Hummock Ave, Atlantic City, NJ 08401