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$ 1,097,777
Est. payment | /mo
12 Beds
6 Baths
$ 1,097,777
Est. payment | /mo
12 Beds
6 Baths
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID 260215
Bedrooms 12
Year Built 1920
Annual Tax Amount $9,797
Tax Year 2025
Lot Dimensions 40x100
Property Sub-Type Other
Property Description
Amazing Location just a couple blocks to the World Famous Wildwood Beaches, Boardwalk just a few Blocks to Wildwood Crest. There are 2 Buildings that Make up this 6 Unit Complex. The Front Building is 4 Units with 2 on the Upper floor that enjoy Ocean Views and 2 on the First Floor. The apartments are bright and airy. Each feature 2 bedrooms tastefully decorated and are being sold fully furnished as seen. This home has its own private patio area and may also take advantage of the common picnic area between the 2 houses. There is Luxury vinyl plank flooring for convenient cleanup and to protect against sand and water brought back from the beach and an outdoor shower. Also conveniently located near the convention center, you may take advantage of all of the events in the shoulder seasons as well that are put on at that venue. The Owners have all of the Condo Docs, Surveys and exemptions needed should you decide to convert these to condominiums. The owners were going to sell individually and have been working on the units. 2024 the property grossed $104,000 with very little effort or Marketing. The $25,000/unit should be easily attained and should the properties be pushed a bit more and rented over the fall and winter, you could expect another 10k/unit. Properly run, this property should see north of $200k/year.
Location
State NJ
County Cape May County
Area Wildwood
Location Details Island
Rooms
Other Rooms Living Room, Kitchen, Dining Area, Laundry/Utility Room
Interior
Hot Water Gas
Heating Electric, Baseboard
Cooling Wall Air Conditioning
Exterior
Exterior Feature Patio, Deck, Enclosed/Cov. Patio, Porch, Storage Building, Cable TV, Sidewalks, Outside Shower
Building
Lot Description Island
Sewer City
Water City
New Construction No
Listed by LONG & FOSTER REAL ESTATE, INC nwnj
NEARBY SCHOOLS & PROPERTIES
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Beata Lagares
Agent | License ID: 1862650