Wildwood, NJ 08260,101 W Magnolia Avenue
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Wildwood, NJ 08260,101 W Magnolia Avenue
Wildwood, NJ 08260,101 W Magnolia Avenue
Wildwood, NJ 08260,101 W Magnolia Avenue
Wildwood, NJ 08260,101 W Magnolia Avenue

$664,000

Est. payment /mo

$649,000

2.3%
Est.Price: ?

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101 W Magnolia Avenue Wildwood, NJ 08260

5 Beds

4 Baths

SOLD DATE : 11/15/2024

Key Details

Sold Price $664,000

Property Type Multi-Family

Sub Type Triplex

Listing Status Sold

Purchase Type For Sale

MLS Listing ID 242846

Sold Date 11/15/24

Bedrooms 5

Year Built 1907

Annual Tax Amount $6,887

Tax Year 2023

Lot Dimensions 0.0930

Property Description

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 out—the upside is calling!

Location

State NJ

County Cape May County

Area Wildwood

Interior

Hot Water Gas, Other Hot Water

Heating Gas Natural

Cooling Central Air, Other

Building

Sewer Public

Water Public

New Construction No

Others

Acceptable Financing Conventional, Veterans ADM, Federal Home ADM, No Financing

Listing Terms Conventional, Veterans ADM, Federal Home ADM, No Financing

Financing Conventional,Veterans ADM,Federal Home ADM,No Financing

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Listed by REAL
Bought with BLUE HOMES REAL ESTATE LLC

Justin Heath

Team Leader | Realtor | License ID: RS347845 PA & 2298019 NJ

+1(215) 808-7425

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