Atlantic City, known for its bustling casinos and vibrant entertainment scene, is also a prime location for real estate investment. One such investment opportunity is a single-family home currently available for sale. This 4-bedroom property is not only conveniently located just 3 blocks away from the famous Boardwalk and beach but also comes with a qualified tenant already in place.
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The property is currently being rented out for $1,125 per month, with the tenant responsible for all utilities, including water and sewer. The lease is month-to-month, but the tenant is willing to renew the lease for a longer term if desired by the buyer. This ensures a steady rental income for the prospective investor from day one.
It is worth noting that 4-bedroom homes are becoming increasingly scarce in today’s market, making this property an even more attractive investment opportunity. The owner is willing to assist in preparing all necessary contracts, and any inspections by the buyer must be completed before signing any agreements.
Furthermore, the listing broker will hold all escrow monies in a bonafide escrow account with TD Bank, ensuring transparency and security for both parties involved. The deposit money will be clearly identified in the account, providing peace of mind to the buyer.
The property’s location is a significant selling point. Being just a short distance from the Boardwalk and beach, it offers potential tenants a highly desirable location. Additionally, the current tenant has been paying $1,125 per month, which demonstrates the property’s income-generating potential.
If the buyer desires a longer-term tenant, the current tenant is open to staying, providing stability and reducing the risk of vacancy. The security deposit can also be assigned to the new owner, minimizing upfront costs.
To make the deal even more enticing, the owner is open to considering offers and may provide seller assistance. Possible financing options are also available, making it more accessible to potential investors.
In terms of commission, the sale commission for the cooperating broker is set at 3 percent, ensuring fair compensation for all parties involved.
To view the property, interested buyers must submit a written email request at least 48 hours in advance. The owner will prepare all contracts, and the listing broker will handle all deposit and escrow monies through their TD Bank escrow account. The buyer will need to sign a W-9 form, disclosing the deposit provided.
It is important to highlight that the current tenants have generated approximately $80,000 in rent over the past 7 years, emphasizing the property’s income potential and history of consistent rental payments.
In conclusion, this investment opportunity in Atlantic City offers a single-family home with 4 bedrooms, a qualified tenant, and a prime location just blocks away from the iconic Boardwalk and beach. With a current rental income of $1,125 per month, the property promises a steady cash flow for potential investors. The owner’s willingness to assist with contracts and the possibility of financing further sweeten the deal. Don’t miss out on this sacrifice sale – act quickly to secure this excellent real estate investment.
2013 Blaine Ave, Atlantic City, NJ 08401