405 N Wildwood Rd - Apartments FOR SALE


Cape May Court House, NJ 08210
$1,471,000 USD
609-425-2593
405 N Wildwood Rd, Cape May Court House, NJ for Sale
$1,471,000 USD
Apartments - FOR SALE
1/13
null | Request Cap Rate

405 N Wildwood Rd
Cape May Court House, NJ 08210


HIGHLIGHTS

  • 222 Ft of frontage in a high traffic, high visibility area
  • New mechanicals, new roofs, new septic
  • Huge rental demand

OVERVIEW

Package deal. Located at 405 N Wildwood Blvd right off the Garden State Parkway, the property is a former hotel that was converted to multifamily apartments. The property has been fully renovated including new mechanicals and is ready with 13 Market Rate apartments (11 efficiencies, 1 - one bed, 1 - three bed). The building’s construction with all units being first floor walk-ins, having on-site laundry, and room for additional storage units will add to its appeal. This property will allow an investor to capture full market rents and add significant value through lease-up in a rental area with huge demand. N Wildwood Blvd benefits from its close proximity to North Wildwood’s beaches and extended shoulder season to bolster Airbnb models. To the west, Burleigh is aggressively developing commercial real estate which may interest investors in also purchasing 401 N Wildwood Blvd on this same parcel. Netting 222’ of frontage and 1.08 AC of dry land opens up a number of additional opportunities in a high traffic, high visibility area.

FOR SALE DETAILS

PRICE

$1,471,000 USD

PRICE/SF

$270 USD /SF

# OF UNITS

13

PRICE/UNIT

$113,154

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wildwood Park

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1956

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.08 AC

LAND SF

47,045 SF

ZONING

TB

APN/PARCEL ID

06-00989-0000-00003

ASK ABOUT THIS PROPERTY

David JoslinFreedom Propeties & Holding LLCMore Info
609-425-2593

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David JoslinFreedom Propeties & Holding LLCMore Info
609-425-2593

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.