2704 Atlantic Avenue
About This Property
Presenting .... "The Ultra"! This is a very unique offering for an investor who truly understands the value of a one of a kind and beautifully maintained opportunity! Generating $80,000+/ season, with a total of 14 bedrooms and 5.5 bathrooms, and 10+ car parking, this property spans four stories. The main attraction of this stunner is an 8 bedroom, 3.5 bath residence which comprises the 2nd, 3rd and 4th levels, accommodating a total of 30 people. Included is a large foyer, living room area, kitchen with two ranges, three refrigerators, two microwaves and a dishwasher to easily accommodate the cooking and eating needs of large groups, and a spacious dining area. The rooms throughout are a nice size, and there is a woodturning fireplace on the main living area with a gas insert. You will surely appreciate the many architectural and period details such a gorgeous fireplace, moldings, incredible extra wide wood front door, wood trim, and so much more. All baths are full tile for easy care. This unit has gas hot water and window A/C units for summer comfort. The carpets were new in 2019. There is also a laundry room available. The owner currently rents this unit for $5,000/week in the summer. The first floor has two 3 bedroom, 1 bath apartments that rent each summer season for $16,000 each including utilities, and they are already rented for the 2021 season - a buyer would need to honor those rentals. The exterior of this property is vinyl sided, all trim is Azek, and it is super clean - you will be very impressed with the condition of this property. There is a workshop on premises, built in security cameras including night vision, decks galore for maximum outdoor living enjoyment, and a huge garage with loft for all of your storage needs. There are 3 electric meters and 1 gas meter. Enjoy TEN CAR PARKING (YES, 10 CARS!) and a huge yard which begs for a pool - what an amazing addition that would be to round off this incredible property, and elevate the enjoyment and potential rental income to the stratosphere! The possibilities are truly endless - you could rent all three units for maximum income - the seller generates over $80,000/year currently - or just rent the first floor units for $32,000/income each year to help cover the expenses, and enjoy the main home for your vacation home - great for multiple buyers to go in on together! Vacant and ready to be shown, call today!
1 Car, 2 Car, 3 Car, Concrete Driveway
Patio, Deck, Porch, Storage Building, Cable TV, Sidewalks
©2020 Cape May County Multiple Listing Service. The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity program of the Cape May County MLS. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than Sotheby's International Realty are marked with the Broker Reciprocity logo or the Broker Reciprocity thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate.