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235 E Garfield Avenue, Wildwood - UNDER CONTRACT

$1,750,000

MLS: 220626  |  Bedrooms:  |  Baths:  |  Type: Motel
Lot:40x100  |  Taxes: $12,982  |  Area: Wildwood

Incredible investment opportunity to purchase this motel style apartment building, along with a vacant commercial lot currently used as onsite parking. 235 E Garfield Av. has been completely renovated and consists of 8 two-bedroom apartments and 3 one-bedroom apartments and it is run as a full-service motel with an onsite laundry room. All units feature air conditioning heat systems, that allow for year-round use. One electric meter. The Sellers generated around $250k in revenue in 2019, $270k in 2020 and over $300k in 2021. Included in the sale is also separately deeded 100x90 vacant lot for 30+cars located at 3719 Pacific Ave. Offered together as a package ONLY, the vacant lot is zoned commercial and could be developed into another income producing property by the savvy investor in the future. Centrally located, within a walking distance to the best that Wildwood has to offer, this property has a solid potential for incredible Airbnb cash flow. Located in a qualified NJ opportunity zone.

AMENITIES

  • Heating:Forced Air   
  • Heating:Multi-Zoned   
  • Heater:Gas  
  • Conventional  
  • Cooling:Multi-Zoned  
  • City  

PROPERTY LOCATION / MAP

Last Database Update: 10/05/2022 05:45:21
Let Ferguson Dechert be your buyer agent for this listing. Listing is provided by COASTLINE REALTY, LLC. 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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235 E Garfield Avenue, Wildwood
For Sale: $1,750,000
MLS: 220626

Bed: | Bath: LOT:40x100 | DOM:7
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Ferguson Dechert Real Estate - Summer Vacation Rentals and Properties For Sale in Avalon and Stone Harbor
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Avalon, NJ
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