$649,000
101 W Magnolia Avenue Wildwood, NJ 08260
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$649,000
Est. payment /mo
5 BD
4 BA
2,872 SqFt
Pending
101 W Magnolia Avenue Wildwood, NJ 08260
UPDATED:
09/28/2024 12:14 PM
Key Details
Property Type Multi-Family
Sub Type Three Family
Listing Status Pending
Purchase Type For Sale
Square Footage 2,872 sqft
Price per Sqft $225
Municipality Wildwood (WIL)
MLS Listing ID 22427797
Bedrooms 5
Full Baths 4
Originating Board MOREMLS (Monmouth Ocean Regional REALTORS�)
Year Built 1907
Annual Tax Amount $7,123
Tax Year 2023
Lot Size 3,920 Sqft
Acres 0.09
Lot Dimensions 45 x 90
Property Description
UNDER CONTRACT - OPEN HOUSE CANCELLED
Income Potential with Room to Grow!
Welcome to this charming multifamily property that's not just a home?it's an income-producing machine with serious upside! With three units and a current gross income of around $65,000 per year, this property is perfect for both seasoned investors and those looking to dive into the rental market.
Two units are already rented out to long-term tenants, and there's still tremendous potential for more income. Imagine converting the downstairs unit into two separate spaces or transitioning the two-car garage into something that boosts your bottom line?think rental space or storage! Opportunities like this don't come around often! Recent updates include a brand new water main connection, new water pipes, two new furnace units, a new AC in the downstairs unit, and a tankless water heater. Plus, the downstairs unit has had a facelift with new cabinets, vinyl flooring, fresh paint, and trim. Did we mention that two of the three units come fully furnished? This property is practically turn-key, making it easy for you to start generating income from day one.
With off-street parking, a garage, and the chance to increase revenue streams, this is a rare find. Take advantage of historically low rents and align them with the market to maximize your investment. Whether you're looking for a smart investment or a great way to live and earn, this property offers the perfect combination of comfort and financial potential.
Don't miss outthe upside is calling!
Income Potential with Room to Grow!
Welcome to this charming multifamily property that's not just a home?it's an income-producing machine with serious upside! With three units and a current gross income of around $65,000 per year, this property is perfect for both seasoned investors and those looking to dive into the rental market.
Two units are already rented out to long-term tenants, and there's still tremendous potential for more income. Imagine converting the downstairs unit into two separate spaces or transitioning the two-car garage into something that boosts your bottom line?think rental space or storage! Opportunities like this don't come around often! Recent updates include a brand new water main connection, new water pipes, two new furnace units, a new AC in the downstairs unit, and a tankless water heater. Plus, the downstairs unit has had a facelift with new cabinets, vinyl flooring, fresh paint, and trim. Did we mention that two of the three units come fully furnished? This property is practically turn-key, making it easy for you to start generating income from day one.
With off-street parking, a garage, and the chance to increase revenue streams, this is a rare find. Take advantage of historically low rents and align them with the market to maximize your investment. Whether you're looking for a smart investment or a great way to live and earn, this property offers the perfect combination of comfort and financial potential.
Don't miss outthe upside is calling!
Location
State NJ
County Cape May
Area None
Direction North on New Jersey Avenue, left on Magnolia Avenue, 101 is on the right. Corner of New Jersey and Magnolia Avenue
Rooms
Basement Crawl Space
Interior
Heating Forced Air
Cooling Central Air, Multi Units
Exterior
Garage Spaces 2.0
Waterfront No
Building
Sewer Public Sewer
Others
Senior Community No
Tax ID 14-00234-0000-00031
Listed by Real Broker, LLC
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