Posted by JoeNJ on November 21, 2000 at 15:23:02:
I mentioned this deal earlier and the circumstances are becomming intensified. One of the owners is terminal…
and doesn’t know it. The other owners; his wife, daughter and son in law, want to sell prior to his death ASAP.
4 studio units in a 14 unit condo complex, 1 short block to beach in Atlantic City, NJ
All other units are owner occupied
Rents, 700 per unit
Condo Fee @70 per unit
Comps 25,000 per unit
Tax assessment 30,000 per unit
If I can’t get the money fast, they will list with Realtor.
They are willing to sell FAST for 62,000.
Any help would be appreciated.