Incredible investment opportunity to purchase this motel style apartment building in the heart of Wildwood. 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. Centrally located, within a walking distance to the best that Wildwood has to offer, this property has a solid potential for incredible rental /Airbnb cash flow. Located in a qualified NJ opportunity zone.
220626
Hotel, 3+ Story
Cape May
Public
3
Public Sewer
7,616
Sq. Ft.
12 Total
Interior Features
- Heating
- . Forced Air, Zone.
Exterior / Lot Features
- Zoning
- Commercial
Financial Considerations
$12,982
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