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235 E Garfield

Wildwood, NJ 08260
  • $1,750,000
  • STATUS: Active
  • ON SITE: 106 Days
  • MLS #: 220626
UPDATED: 73 min ago
$1,750,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 7,616
    SQFT
  • $230
    $/SQFT
Neighborhood:
Type:
Commercial
Area:

School Ratings & Info

Description

Incredible investment opportunity to purchase this motel style apartment building, along with a vacant commercial lot currently used as onsite parking. 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. Included in the sale is also separately deeded 100x90 vacant lot for 30+cars located at 3719 Pacific Ave. Offered together as a package ONLY, the vacant lot is zoned commercial and could be developed into another income producing property by the savvy investor in the future. Centrally located, within a walking distance to the best that Wildwood has to offer, this property has a solid potential for incredible Airbnb cash flow. Located in a qualified NJ opportunity zone.

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Listing information © 2022 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 2022-06-26T21:49:39.037.
www.theoceansiderealtyteam.com/homes/126601161
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235 E Garfield Wildwood, NJ 08260

  • Price: $1,750,000
  • Status: Active
  • On Site: 106 Days
  • Updated: 73 min ago
  • MLS #: 220626
0
Beds
0
Baths
0
½ Baths
N/A
Acres
7,616
SQFT
$230
$/SQFT
Neighborhood:
14-Wildwood City
Area:
Wildwood
Property Description
Incredible investment opportunity to purchase this motel style apartment building, along with a vacant commercial lot currently used as onsite parking. 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. Included in the sale is also separately deeded 100x90 vacant lot for 30+cars located at 3719 Pacific Ave. Offered together as a package ONLY, the vacant lot is zoned commercial and could be developed into another income producing property by the savvy investor in the future. Centrally located, within a walking distance to the best that Wildwood has to offer, this property has a solid potential for incredible Airbnb cash flow. Located in a qualified NJ opportunity zone.
Exterior Features

Lot Size 40X100 Parking 11 Or More SpacesOff Street

Interior Features

Cooling Multi-Zoned Heating Forced AirMulti-Zoned Hot Water Gas Specialty Rooms Laundry Room

Property Features

Bank Owned No Beach Proximity 1 Block Commercial Type Motel Financing Available Conventional Near Wildwood Boardwalk New Construction No Sale Or Rent For Sale Sewer City Subject To Third Party Approval No Tax Year 2021 Taxes 12982 Type MotelCommercial Water City Zoned Commercial

© 2022 Cape May County Association of REALTORS® MLS. All Rights Reserved.
Listing provided courtesy of Coastline Realty, Llc.


Listing information © 2022 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 2022-06-26T21:49:39.037.
 
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The Oceanside Realty Team | Keller Williams Jersey Shore
5501 New Jersey Avenue
Wildwood Crest NJ, 08260