For Sale 803 Penrose Rd, Atlantic City, NJ, 08401

Discover a prime investment opportunity with this affordably priced property, ideal for investors or those with a knack for renovation. Boasting 3 bedrooms, a full bathroom, and a formal dining room, this home is brimming with potential for enhancement and personalization. Key advantages include its \"AS IS\" sale condition, offering a unique chance to increase value through improvements. The heat downstairs for gas baseboard does not work and is currently operating on electric baseboard. The property benefits from an on-time paying tenant on a flexible month-to-month lease, ensuring immediate rental income while you plan its future.

Two story row home with EXTREMELY LOW Taxes! Income and Expenses available to qualified investors. Double Digit Returns with a 15%+ Cap Rate! Property is now vacant, renvoated, and being sold As-is. Rent this property out for about $30,000.00 per annually!! Section 8 approved!! Features a large living room and formal dining room, eat in kitchen, and utility room with washer & dryer hookups and utility sink! Second floor has three nice size bedrooms and a full bathroom. Exterior has a covered front porch, wide sidewalks, small back yard, and is easily accesible from main roads. Close drive to Tanger Outlets, Bass Pro Shops, Dave and Busters, Gardners Basin, AC Aquarium, All Casinos, Absecon Lighthouse, Littel Water Distillery, Schools, Shopping, Nightlife Restaurants, Corner Stores, Highways, and of course the Beach and Boardwalk!

INVESTOR ALERT! Long term good paying tenant pays $1371 per month. Everything was redone up to code five years ago. New roof 4 years ago, new floors 3 years ago, plumbing was done 4 years ago, Electric was done 4 years ago. This is an as-is transaction and all the inspections will be for informational purposes. The buyer is responsible for CO and all the certifications for closing.