5901 New Jersey Avenue $810,000

Introducing a remarkable investment opportunity at 5901 New Jersey Ave in Wildwood Crest, a mixed-use triplex that stands on a valuable 40x100 corner lot and presents a unique blend of commercial and residential offerings. This property is a testament to savvy investing, having undergone extensive renovations including a new roof, stylish siding, efficient windows, welcoming decking, sturdy railings, secure exterior doors, and azek trim for durability, ensuring it is both modern and low-maintenance. The triplex consists of a large commercial unit with several office spaces, a kitchenette, and a half bathroom, making it ideal for a variety of business ventures. Complementing this are two residential units, each boasting two bedrooms and one bathroom, with one of the apartments recently renovated to enhance its appeal. All units are currently leased to reliable tenants, establishing a stable income stream with the property generating over $50,000 in gross rental income annually. Tenants are responsible for their own utilities, except for water/sewer, and with separate meters for electric and gas, the setup is perfect for a potential condo conversion in the future. The inclusion of a large concrete parking pad offers ample off-street parking, a significant advantage in Wildwood Crest, alongside additional storage space. With little to no work left to be done, this property not only promises immediate returns but also the potential for growth, making it an ideal investment for those looking to expand their portfolio in a prime location.

This listing is provided courtesy of COMPASS RE - Ocean City