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206 E Glenwood Ave, Wildwood, NJ 08260

$750,000
: 3,600
SqFt

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List Price: $750,000
Status: ACTIVE
Days on Market: 28
MLS#: NJCM2008216
Subtype: Multi-Family
Style: Contemporary
Year Built: 1920
Living Area: 3,600
Lot Size: 3,149
Acres: 0.07
MLS Area Major: Wildwood City (20514)

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Property 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!

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Additional Information

Taxes: $7,142
Property Description: Contemporary
Zoning: R2
Heating: Baseboard, Electric Baseboard
Air Conditioning: Window/Wall
Foundation: Other
School District: Wildwood City Schools
Middle School: Wildwood
High School: Wildwood H.S.