958 Myrtle Avenue

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958 Myrtle Avenue

Erma, NJ 08204
Asking Price
Contact for price
Asset Type
Apartment Building Multifamily
Class
Class B

AI Property Summary

Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).

  • Multifamily apartment building located in Erma New Jersey
  • Property consists of two distinct residential rental units
  • Site is positioned within the 08204 ZIP code area
  • Asset type suitable for long-term residential housing investment
  • Located in an established market within Cape May County

What's Special

Erma serves as a stable residential community within Cape May County, benefiting from its proximity to coastal tourism hubs and regional thoroughfares. This multifamily asset on Myrtle Avenue consists of two apartment units, providing a straightforward investment vehicle for those seeking a manageable residential holding in southern New Jersey. The property architecture suits long-term rental operations, appealing to a consistent tenant base looking for housing near the peninsula’s employment centers and recreational amenities. Investors often prioritize this type of low-density residential building for its utility in established suburban markets where housing demand remains steady throughout the year. With its position in the 08204 ZIP code, the property integrates into a market characterized by a mix of permanent residents and seasonal workforce housing needs. This asset functions as a practical addition to a broader residential portfolio, offering functional living space in a consolidated, two-unit format that streamlines management requirements for local or regional owners.

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NOI
$80,000
Cap Rate
8.00%
DSCR
1.35
Strong
Cash-on-Cash
6.88%
Monthly Payment
$4,947.454
Annual Cash Flow
$20,630.547

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