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Royersford, PA 19468
 (484) 744-1585
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123 Jersey Shore, Wildwood, NJ

1 Bedrooms / Multiple Family

Property Status: Available |  For Sale: $1,625,000.00



10% Cap Rate, 21 Unit Apt, Low Rents, Off Market Deal, Asking Under-Market Deal


Property Details:
Property Style:
5+ Units
Basement:
No Basement
Owner/Agent:
Individual Owner
PROPERTY SUMMARY
The Jersey Shore Apt Opportunity is a 21 unit apartment building with a great reputation and a great return on investment. The building is located a close distance from the beach and boardwalk. The property has been very well maintained and the owner is looking to sell due to relocation. The property makes a very good return and would provide the new owner with a great cash-flowing asset. There is ability to increase rents and as well as to add units and make an even greater return. There is a demand for long-term housing in the area and vacancy is never an issue with this property.
PROPERTY VALUE
The Jersey Shore Apt Opportunity Value is based on its income production is conservatively estimated between $1.7MIL – $1.9MIL.
MARKET INDICATORS
The Jersey Shore Apt Opportunity is a solidly build historical C class property. The surrounding area has much to offer and is a popular destination. There is a demand for long-term housing in the area and vacancy is never an issue with this property. The building is running at 100% occupancy. Attractive unit mix of 1 BR and Studio units. There are several units that are below market rent by approx. $200-$300. All units have potential to be increased by $100 based on market area rents.
EXIT STRATEGY
Exit Strategy: Hold as cash-flowing apartment rentals.
The Jersey Shore Apt Opportunity is a great opportunity for an investor who is looking for a solid income producing cash-flowing asset. Based on current rents the property produces a 22% Cash on Cash return with a 10% Cap Rate which is high for the area. For the savvy investor there is potential to add a few more units and increase the return even greater.

Looking forward to finding the right buyer for this great opportunity.  Looking to wholesale for $1,625,000
Please contact me for complete information including location, annual property operating data, pictures, due diligence documentation.

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