1141 N Michigan Ave, Atlantic City, NJ 08401

$179900.00

Descriptions

TURNKEY INVESTOR SPECIAL: 11.6% Gross Yield in Atlantic City Stop looking for cash flow—it’s right here. This fully occupied, single-family rental generates a steady $1,750/month (+ utilities) with zero immediate turnover or capital expenditures (CapEx) required. The Investment Financials: Asking Price: $179,900 Monthly Rent: $1,750 (Month to Month lease) Gross Annual Income: $21,000 Annual Property Taxes: $1,555 Property Management Setup: Tracked smoothly via RentRedi Recent Updates & Property Condition: Brand new flooring installed through the living room and hallway. Fresh, clean carpet in all 3 bedrooms. Clean, recently approved Certificate of Occupancy (CO) on file with the city — 100% compliant and ready for a seamless transfer. The Story: The property is being sold strictly to free up liquidity for unrelated outside financial obligations — NOT due to property performance. The multi-year tenants have an impeccable payment history and treat the home with care. This is a pure plug-and-play addition for cash buyers, portfolio builders, or 1031 exchange investors looking for Day 1 income. Built-in Upside: Current rent is well below market. Average local rents are approximately $2,200–$2,500/month, giving the next owner meaningful room to increase rents over time.

Directions

AC Expwy ends at Arctic Ave. Left on Michigan Ave northbound to 1141 N Michigan.

Property Details

Residential Data Form

AREA/SECTION:  Monroe Park

City/Community:  Atlantic City

Rooms #:  6

Bedrooms #:  3

Full Baths #:  1

Half Baths #:  0

Lot Size:  Less than one Acre

GENERAL INFORMATION 2

Maybe Sub 3rd Party App Short Sale:  No

Approved Short Sale:  No

Bank Owned/Foreclosure:  No

Auction:  No

Year Built:  1959

Lot DImensions:  40x75

Approx. Sq. Ft.:  992

Flood Plain:  No

Style:  Ranch

Solar Panel Y/N:  No

Adult Community/55+:  No

Room information

FEATURES

SIDING/EXTERIOR:  Aluminum

DRIVEWAY:  Concrete

BASEMENT:  Crawl Space

FLOORING:  Vinyl  W/W Carpet  Laminate

HEATING-check fuel source and heat type:  Electric

AIR CONDITIONING:  Window Units

WATER HEATER:  Electric

WATER:  Public

SEWER:  Public Sewer

OUTSIDE FEATURES:  Fenced Yard  Porch Screened

INTERIOR FEATURES:  Carbon Monoxide Detector  Smoke/Fire Alarm

PARKING - EXTERIOR Features:  2 Cars

GARAGE:  None

Financing

Homeowner Assoc Fee:  0