Location
Description
ATTENTION INVESTORS, DEVELOPERS & FIX-AND-FLIPPERS! RARE 4-UNIT CONDO CONVERSION OPPORTUNITY just two blocks from the Wildwood Beaches & Boardwalk! Tremendous investment with condo approval already in place and Master Deed completed! Renovate and resell individual condos, fix and flip, or hold as an income-producing investment. Featuring 4 units. UNIT BREAKDOWN & RENTAL INCOME: Unit 1 (First Floor): 2BR/1BA $1,900/month (occupied); Unit 2 (Second Floor): 3BR/1BA $2,100/month (vacant, estimated rent); Unit 3 (Third Floor): 5BR/1BA $2,250/month (occupied); Unit 4 (Detached Cottage): 2BR/1BA $1,600/month (vacant, estimated rent). CURRENT RENTAL INCOME: $4,150/MONTH | PROJECTED RENTAL INCOME: $7,850/MONTH or $94,200 ANNUALLY! One unit has already been updated. Seller reports separate gas, electric, and water meters for all units. An opportunity with multiple investment and resale strategies!
This listing is provided courtesy of eXp REALTY
Interior Features
- Cool System: Other
- Heat System: Electric
Additional Features
- County: Cape May County
- Property Type: Four-Plex
- Water/Sewer: Public
- Year Built: 1920