Wildwood Park | 405 N Wildwood Rd
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Wildwood Park 405 N Wildwood Rd
13 Unit Apartment Building $1,471,000 ($113,154/Unit) Cape May Court House, NJ 08210
Investment Highlights
- 222 Ft of frontage in a high traffic, high visibility area
- Huge rental demand
- New mechanicals, new roofs, new septic
Executive Summary
Package deal. Located at 405 N Wildwood Blvd right off the Garden State Parkway, the property is a former hotel that was converted to multifamily apartments. The property has been fully renovated including new mechanicals and is ready with 13 Market Rate apartments (11 efficiencies, 1 - one bed, 1 - three bed). The building’s construction with all units being first floor walk-ins, having on-site laundry, and room for additional storage units will add to its appeal. This property will allow an investor to capture full market rents and add significant value through lease-up in a rental area with huge demand. N Wildwood Blvd benefits from its close proximity to North Wildwood’s beaches and extended shoulder season to bolster Airbnb models. To the west, Burleigh is aggressively developing commercial real estate which may interest investors in also purchasing 401 N Wildwood Blvd on this same parcel. Netting 222’ of frontage and 1.08 AC of dry land opens up a number of additional opportunities in a high traffic, high visibility area.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,471,000 | Property Subtype | Apartment |
| Price Per Unit | $113,154 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.08 AC |
| Sale Conditions | Build to Suit | Building Size | 5,452 SF |
| No. Units | 13 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1956/2023 |
| Price | $1,471,000 |
| Price Per Unit | $113,154 |
| Sale Type | Investment |
| Sale Conditions | Build to Suit |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 1.08 AC |
| Building Size | 5,452 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1956/2023 |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Granite Countertops
- Vaulted Ceiling
- Yard
- Vinyl Flooring
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 11 | - | - |
| 1+1 | 1 | - | - |
| 3+1 | 1 | - | - |
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zoning
| Zoning Code | TB |
| TB |
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Freedom Propeties & Holding LLC
Wildwood Park | 405 N Wildwood Rd
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