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500 W Glenwood Ave, Wildwood, NJ 08260

$949,000
: 8
BD
: 4
BA
: 3,828
SqFt

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List Price: $949,000
Status: ACTIVE
Days on Market: 3
MLS#: NJCM2008394
Subtype: Residential
Style: Other
Year Built: 1960
Bedrooms: 8
Bathrooms: 4
Full Baths: 4
Living Area: 3,828
Lot Size: 4,818
Acres: 0.11
Subdivision: West Wildwood
MLS Area Major: West Wildwood Boro (20513)

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Property Description

INVESTMENT & DEVELOPMENT OPPORTUNITY IN WILDWOOD! Located just steps from the bay, 500 W. Glenwood Avenue offers more than 3,800 sq. ft. of living space and tremendous potential for investors, developers, and builders. Currently configured as a triplex, the property features three spacious units: a 3-bedroom/2-full-bath apartment, a 3-bedroom/1-bath apartment, and a 2-bedroom/1-bath apartment. The property has been operated as a rental investment, generating approximately $70,000 in combined annual rental income. With its desirable Wildwood location near the bay, this property offers multiple possibilities for the next owner. Renovate and reposition the existing units as an income-producing rental property, explore the potential for condominium conversion, or redevelop the site with new construction. The property will be delivered vacant and sold strictly AS-IS, giving the new owner the flexibility to begin renovations or redevelopment without existing tenant occupancy. A rare opportunity to acquire a large multi-unit property in Wildwood with existing income history, more than 3,800 sq. ft. of living area, and significant value-add and redevelopment potential. Ideal for the investor or builder looking to capitalize on one of the Jersey Shore’s most popular destinations. Buyer responsible for conducting all due diligence regarding permitted uses, zoning, condominium conversion, redevelopment, and new construction possibilities with the appropriate municipal authorities.

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Additional Information

Interior Features: Attic, Tub Shower, Ceiling Fans
Taxes: $8,657
Property Description: Other
Zoning: T-C
Appliances: Built-In Microwave, Dishwasher, Dryer, Microwave, Electric Range, Refrigerator, Washer, Water Heater
Heating: Electric Baseboard
Air Conditioning: Central Air, Window/Wall
Levels: Two
Foundation: Block, Crawl Space
Parking Features: Paved Driveway
School District: Wildwood City Schools
View: Bay, Water