Amazing Opportunity to own an 8 Unit Apartment Building in Wildwood NJ. All units have outside separate entrances making this Complex look and feel more like a motel. Tremendous opportunity to convert to Condos, rent year-round or make this an Airbnb cash cow. The Current owner renovated this property in 2007-2008 and has been renting year-round and collecting rent weekly. He occupies the spacious top floor 1 bedroom unit which I've estimated could be rented for $1000 minimally each month. This would bring the yearly total collected to $69,360. The 7 Units downstairs are all efficiency units with small kitchenettes (Excluding #6,7). Units 4,5 have a lower rent as they have been tenants since year 1 and assisted seller with the renovations. He promised not to raise the rent as long as he was owner. Units 1,2 and 3 have gas heat and wall A/C. Units 4,5,6,7 have split systems (Forced Air and Heat). There is a 75-gallon Hot water heater supplying all units effortlessly as there are 2 Tenants max in units. Expenses are as follows (Approx per month or Quarter) Cable $95/mo. Electric $300/month Gas $100/month Water $225/QTR Sewer $513/QTR Owner pays all utilities. Seller is up to date on DCA Certificate
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