235 E Garfield #12 $1,750,000

Incredible investment opportunity to purchase this motel style apartment building, along with a vacant commercial lot currently used as onsite parking. 235 E Garfield Av. has been completely renovated and consists of 8 two-bedroom apartments and 3 one-bedroom apartments and it is run as a full-service motel with an onsite laundry room. All units feature air conditioning/heat systems, that allow for year-round use. One electric meter. The Sellers generated around $250k in revenue in 2019, $270k in 2020 and over $300k in 2021. Included in the sale is also separately deeded 100x90 vacant lot for 30+cars located at 3719 Pacific Ave. Offered together as a package ONLY, the vacant lot is zoned commercial and could be developed into another income producing property by the savvy investor in the future. Centrally located, within a walking distance to the best that Wildwood has to offer, this property has a solid potential for incredible Airbnb cash flow. Located in a qualified NJ opportunity zone.

This listing is provided courtesy of COASTLINE REALTY, LLC