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Type: Mixed Use |
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LOT:
5401 |
| Taxes: 13101
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| Area: Wildwood
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| PROPERTY DESCRIPTION |
| Exceptional workforce housing investment opportunity just one block from the beach and boardwalk in one of the Jersey Shore s most in-demand seasonal employment markets. This 14-bedroom, 11-bath property is fully configured for J1 and seasonal employee housing, offering strong existing cash flow with additional upside potential. The property currently accommodates 42 beds across multiple bunk-style rooms, with the ability to expand to 48 beds to further increase revenue. Designed for efficient high-occupancy operation, the property features secure keypad room entry, a spacious common kitchen and dining area, and a highly functional bathroom layout. The second floor includes 8 private shower stalls and 8 private toilet stalls, while the first floor offers two full bathrooms, plus an additional full bathroom within the 2-bedroom apartment. Current operations generate approximately $139,200 in gross annual income, reflecting a 7.09% cap rate based on current operations. Income is derived from seasonal workforce housing revenue averaging approximately $175 per bed, per week, over a 16-week season, in addition to rental income from the 2-bedroom, 1-bath apartment, which is currently rented for $1,800 per month. Situated on a 60x90 corner lot, the property also features 14 off-street parking spaces and large front porches on both levels, adding to the property s functionality and appeal for tenants. An outstanding opportunity for investors, operators, or employers seeking a proven income-producing asset with expansion potential in a prime shore location.
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- Patio
- Deck
- Living Room
- Kitchen
- Eat In Kitchen
- Pantry
- Heating:Electric
- Assigned Parking
- Concrete Driveway
- Heater:Electric
- Cooling:Other
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| PROPERTY MAP VIEW |
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Request Property Information - 2910 Ocean Avenue, Wildwood NJ
For Sale: $1,369,000
| MLS Number: 261237
Lot: 1 to 6000 SqFt |
DOM: 25 Days
Provided by: The DiAntonio Group - www.capemaycommercial.com
(Information Above Will Appear at the Top of the Email that is Sent to The DiAntonio Group) |
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Let a sales associate at DiAntonio Group be the buyer agent for this listing. Listing is provided by . The data relating to real estate for sale on this web page appears in part through the Cape May County MLS program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which we participate, and is provided by Cape May County MLS through a licensing agreement. Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to change, withdrawal, or prior sale.
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