An interested buyer can purchase a versatile multi-family residence at Amherst and Harding avenues in Margate for $399,000.
Each unit of the duplex has two bedrooms and one bathroom with separate laundry facilities as well as separate private entrances and driveways.
The residence can be used as an investment property. The new owner can rent out both units or enjoy one and rent the other. The first floor is vacant and has been painted. The unit is also suitable for a condo conversion.
The kitchen offers a refrigerator, self-cleaning oven, gas stove, microwave and dishwasher.
The duplex is heated with natural gas and cooled by air conditioning window units with public water and sewer. Outside features include a porch, concrete driveway and single-car garage.
The North Harding Avenue property is being sold by South Jersey beach specialist and realtor Angela Desch, manager of Coldwell Banker Argus Real Estate. The office is owned by Lester Argus, a local real estate leader and former Atlantic City lifeguard and medal-winning swimmer.
There were more multi-family units for sale in Margate and Ventnor before summer. Now, that inventory is down to 12 units in Margate City, Desch said.
The duplexes that were on the market during the spring and summer were at a much lower price point, in the $250,000 to $300,000 range, than those for sale currently, Desch said.
There are only three Margate duplexes selling for $399,000 or less currently, and 301 N. Harding Ave. is one of those properties, Desch said.
Reasons why the market is growing stronger, in Desch’s opinion: Buyers have more discretionary income; interest rates are climbing, and buyers are acting now before they rise; new casinos, projects and developers are coming into the area; and uncertainty over the beach-and-dune project has subsided.
“I have seen the height and deep low of our market. I am delighted that the market is growing stronger. There is a much larger demand for properties, which is depleting our inventory and driving the prices up in both the residential and commercial markets,” Desch said.
Desch has been a Realtor for almost 20 years. After Sept. 11, the company she was working with was taken over by a much larger company. Her position was eliminated.
“For the first time in my young career, I was without a job,” Desch said. “What do I do? I had a clean slate.”
After buying a home with her husband, Desch thought real estate would be a good job because of the flexible hours.
Desch, vice president of the Atlantic City and County Board of Realtors, worked for Avalar Properties from 2010 to earlier this year and operated out of a boutique office in Margate Towers.
Desch has been working with Coldwell Banker Argus Real Estate for the past three months at Washington and Ventnor avenues and sells properties in the shore towns in Atlantic and Cape May counties. Coldwell Banker Argus Real Estate has a Northfield office also specializing in residential and commercial properties.
For more information about the corner duplex for sale at 301 N. Harding Ave. in Margate, call Angela Desch at 609-822-3700 or on her cellphone at 609-457-0410.