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508 Washington St
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
No Basement
Individual Owner
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.
The Jersey Shore Apt Opportunity Value is based on its income production is conservatively estimated between $1.7MIL – $1.9MIL.
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: 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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