Wildwood, NJ 08260,101 W Magnolia Avenue
Wildwood, NJ 08260,101 W Magnolia Avenue
Wildwood, NJ 08260,101 W Magnolia Avenue
Wildwood, NJ 08260,101 W Magnolia Avenue
Wildwood, NJ 08260,101 W Magnolia Avenue
Wildwood, NJ 08260,101 W Magnolia Avenue
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$664,000

$649,000

2.3%
Est.Price: ?

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Est. payment /mo

5 Beds

4 Baths

2,872 SqFt


SOLD DATE : 11/15/2024

Key Details

Sold Price $664,000

Property Type Multi-Family

Sub Type Three Family

Listing Status Sold

Purchase Type For Sale

Square Footage 2,872 sqft

Price per Sqft $231

Municipality Wildwood (WIL)

MLS Listing ID 22427797

Sold Date 11/15/24

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!

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

Building

Sewer Public Sewer

Others

Senior Community No

Tax ID 14-00234-0000-00031

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Monmouth Ocean MLS (MOMLS)
Listed by Real Broker, LLC
Bought with NON MEMBER
Nina Bavosa

Agent | License ID: 2080701

+1(908) 510-9094 | nina@ninasellsnj.com

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