233 E Juniper Avenue

$399,000

About This Property

Turn key investment opportunity that's 2 blocks from the beach and boardwalk. Welcome to The Magic Rest Apartments, an 8 unit building with a potential of $7800/ week in summer rentals ( 2 of the units are owner occupied) and possibly an additional $6000 in Winter Rentals (Three of the apartments are heated for year round use. Three zones are apt. 1A , 1B , 2A.) The current Seasonal rental weekly Break down is as follows: 2 Efficiency apartments at $850/week each, Another Efficiency Unit at $750/week, 2 Units with 2 beds/1Bath at $1000/week each, 3 bedroom 1 bath unit rented to J1 Students for $1500/week, Downstairs owners unit that is not rented (owner occupied) potentially $1000/week, and Downstairs 2 bed unit not rented (owner occupied) at $750/week. Property comes fully furnished, and with all necessary operating items. Just started taking 2020 reservations from a list of waiting return customers. Operated for 5 seasons by same family with a strong return customer base. Property also features an outside shower and 3 decks with amazing views. There is a vacant lot ( 60X81) used for parking located at 237 E Juniper Ave also available for purchase.

Essential Information

MLS® #189808
Price$399,000
TypeMulti-Family
Sub-TypeApartment
StatusUNDER CONTRACT

Community Information

Address233 E Juniper Avenue
AreaWildwood
CityWildwood
StateNew Jersey

Interior

HeatingHeat Pump
BasementCrawl Space

Cooling

Ceiling Fan, Wall Air Conditioning

Exterior

Exterior Features

Deck, Outside Shower, Screened Porch, Cable TV, Sidewalks

Additional Information

Date ListedSeptember 27th, 2019
Days on Market47

Listing Details

OfficeWEICHERT REALTORS COASTAL

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Cape May, NJ
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