1916 Magellan

Description

**We're Back on The Market...New Price Position | New Realtor | New Photos! This well-maintained duplex offers 1,478 sq ft of living space with two 2-bedroom, 1-bathroom units, each featuring separate utilities, its own hot water heater, and its own furnace — a true set-it-and-forget-it setup for any owner or investor. Live in one, rent the other — or add a solid asset to your portfolio! First time home buyers may qualify for up to $50,000 from the Atlantic City Homebuyers Assistance Program in addition to up to $10,000 from the NJ Down Payment Assistance Program AND up to $17,000 from the NJ First Generation Down Payment Assistance Program towards this purchase! Peace of mind comes standard here — the roof was replaced in 2021, and both units feature furnaces and hot water heaters installed in 2021, meaning the big-ticket items are already taken care of for years to come. The top unit is vacant and move-in ready, showcasing beautiful hardwood floors. The bottom unit features vinyl flooring and has a tenant in place through mid-March, providing immediate rental income from day one. With a 4.3% cap rate in a high-demand coastal market with strong appreciation potential, this is a smart addition to any investment portfolio. Outside, enjoy a fenced backyard and convenient street parking. No basement means less maintenance and more simplicity. Ideally located just minutes from the AC Expressway and Route 30 (White Horse Pike) for effortless commuting, and close to MLK School, the Atlantic City Convention Center, and Tanger Outlets at The Walk. World-class entertainment is right around the corner at Caesars, The Borgata, Harrah's, and Golden Nugget, and you're just a short ride to the world-famous Atlantic City Boardwalk and stunning Jersey Shore beaches. Shopping, dining, and public transit are all within easy reach. Whether you're an owner-occupant looking to offset your mortgage with rental income, or an investor seeking a low-maintenance, income-producing property in a thriving shore market, this duplex delivers. Schedule your showing today!