$ 664,000 $ 649,000 2.3%

101 W Magnolia Avenue

Wildwood, NJ 08260

  • 5 Beds
  • 4 Baths
    Full Baths: 4
  • 2,872 SqFt
  • 3,920 Lot Size
  • 1907 Year Built
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!
Listed by Real Broker, LLC , Sold By NON MEMBER

PROPERTY DETAIL

  • 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

    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 Sub-Type Three Family

    Source MOREMLS (Monmouth Ocean Regional REALTORS®)

  • 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

  • Building

    Sewer Public Sewer

  • Interior

    Heating Forced Air

    Cooling Central Air, Multi Units

  • Exterior

    Garage Spaces 2.0

    Private Pool No

  • Others

    Senior Community No

    Tax ID 14-00234-0000-00031

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CONTACT

Christopher Gable
Christopher Gable

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