500 W Glenwood Avenue

Wildwood, NJ 08260

Turn Key Investment Property. Bay views with very safe and stable island community in exclusive West Wildwood. Three Unit (Triplex) Residential Building in Town Commercial Zone of West Wildwood just over the bridge from Wildwood. 8 bedrooms, 4 bathrooms, 3 kitchens, 3 living rooms, 2 dining rooms. Flooring <3 years old, ceiling fans, washer/dryer in every unit, hot water heaters (new, 3 and 4 years old), new front siding, new windows in majority of home. Excellent long term year round tenants with the following number of years rented: Unit A - 6 years, Unit B - 3 years, Unit C - 13 years. All planning to sign multiyear lease extensions. Home has been meticulously maintained and major renovation of entire 2nd floor Unit B in 2019, minor renovations of other units 2019-2022, Flat roof replacement in 2021 and several other improvements since taking ownership in 2019. A home inspection was conducted by highly reputable home inspector and majority of major, marginal and minor defects have been or will be addressed prior to closing. Net Operating Income calculations will be provided to serious buyers. Gross annual rental income is $49,500 that should grow to $53,000 at the end of 2023.