Description
Incredible investment opportunity to purchase this motel style apartment building in the heart of Wildwood. 235 E Garfield Av. has been completely renovated and consists of 8 two-bedroom apartments and 3 one-bedroom apartments and it is run as a full-service motel with an onsite laundry room. All units feature air conditioning/heat systems, that allow for year-round use. One electric meter. The Sellers generated around $250k in revenue in 2019, $270k in 2020 and over $300k in 2021. Centrally located, within a walking distance to the best that Wildwood has to offer, this property has a solid potential for incredible rental /Airbnb cash flow. Located in a qualified NJ opportunity zone.
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
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7,616SQFT
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$197$/SQFT
School Ratings & Info
Description
Incredible investment opportunity to purchase this motel style apartment building in the heart of Wildwood. 235 E Garfield Av. has been completely renovated and consists of 8 two-bedroom apartments and 3 one-bedroom apartments and it is run as a full-service motel with an onsite laundry room. All units feature air conditioning/heat systems, that allow for year-round use. One electric meter. The Sellers generated around $250k in revenue in 2019, $270k in 2020 and over $300k in 2021. Centrally located, within a walking distance to the best that Wildwood has to offer, this property has a solid potential for incredible rental /Airbnb cash flow. Located in a qualified NJ opportunity zone.
Listing information © 2023 Cape May County Association of REALTORS® Multiple Listing Service. Information is deemed reliable but is not guaranteed accurate by the MLS or The Oceanside Realty Team | Keller Williams Jersey Shore. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2023-02-01T16:49:41.813.