Multi-Family

101 Magnolia Avenue, Wildwood

$649,000

Property Details Property Details
UNDER CONTRACT - OPEN HOUSE CANCELLED Income Potential with Room to Grow! Welcome to this charming multifamily property thats not just a homeits 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 theres 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 linethink 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 youre 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!

This listing is provided courtesy of REAL


Bedroom bedrooms

  • MLS #: 242846
  • Status: Pending
  • Address: 101 Magnolia Avenue, Wildwood, NJ 8260
  • Date Listed: 9/24/2024
  • Days on Market: 20
  • Date Sold: 11/8/2024
  • Stipulations: No

Interior Features Interior Features
  • Cool System: Central Air, Other
  • Heat System: Gas Natural
  • Hot Water: Gas, Other Hot Water

Additional Features Additional Features
  • County: Cape May County
  • Property Type: Triplex
  • Water/Sewer: Public
  • Year Built: 1907
  • Lot Size: 0.0930
  • Lot Number: 31
  • 3rd Party Approval: No

Disclaimer:The data relating to real estate for sale on this website comes in part from both the Broker Reciprocity Program of the South Jersey Shore Regional MLS and/or the Cape May County MLS, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms. The brokers providing these listings advise interested parties to do their due diligence before relying on this information in a purchase decision. The information being provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties in which they may be interested in purchasing. All information deemed reliable, but not guaranteed. All properties are subject to change.