James Monteleone 609-399-4211
109 E 55th St., Ocean City
James Monteleone 609-399-4211
109 E 55th St., Ocean City
$349,900
Office
609-399-42110
0
The money maker! This recently renovated duplec features a two story 4bdrom unit and a ground floor 3bdrm unit. Upstairs currently has tenants in place, and the ground floor is currently vacant, newly renovated, CO ready, no stairs and no carpet, has tiled flooring throughout the whole unit. Freshly painted and newer kitchen cabinets, counters, and applicances. Plenty of parking along the side of the property as well as street parking. Tenants only pay Electric! Both units are Section 8 approved, even the three bedroom is large enough for a family of 8!! At this price along with the new rents for 2025, this property is being sold a 15-18% Cap Rate!!! Unheard of gains for a duplex!!! Super low taxes, low maintanace property! Income and Expenses are available up request to qualified buyers. This property sits on a large L shaped lot that may be subdividable, a Survey is also available upon request to qualified buyers. The property also has its Lead Free Cretificate issued by the State allready in place. This is a legal duplex, and approved Land Uses are allready in place with the City. There should be no issues at all with this property, this is basically a turn key investment for beginners and experienced landlords alike!!
| Total Rooms | |
| Full Bath | 0 |
| # of Stories | |
| Year Build | 1910 |
| Lot Size | |
| Tax | 4625.00 |
| SQFT |
| OutsideFeatures | Curbs, Deck, Patio, Porch, Sidewalks |
| OtherRooms | Dining Area, Kitchen, Laundry/Utility Rm, Living Room, Pantry |
| Heating | Baseboard |
| Water | Public |
| Bedrooms | 0 |
| Half Bath | 0 |
| # of Stories | |
| Lot Dimensions | |
| # Units | Duplex |
| Tax Year | 2024 |
| Area | Atlantic City |
| ParkingGarage | None |
| Basement | Crawl Space |
| HotWater | Electric |
| Sewer | Public Sewer |
