246 E 14th Avenue

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246 E 14th Avenue

North Wildwood, NJ 08260
Asking Price
$1.09M
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 North Wildwood
  • Asset features a two-unit residential configuration
  • Offered for sale at a price of 1,095,000
  • Property situated at 246 E 14th Avenue
  • Positioned within the active Cape May County market

What's Special

North Wildwood serves as a prominent coastal destination in New Jersey, drawing seasonal tourism and a consistent residential base to the Cape May County region. This multifamily property at 246 E 14th Avenue sits within this established market, benefiting from proximity to the Atlantic shoreline and local commercial corridors. The asset consists of an apartment building with two distinct units, providing a manageable configuration for investors seeking to maintain a foothold in a high-demand seaside community. Given the layout and location, the property is well-suited for long-term rental income or potential short-term vacation leasing, depending on current municipal regulations. Investors looking for a direct acquisition in a growth-oriented beach town will find this building aligns with regional demand for residential inventory. The building's footprint and dual-unit structure offer operational efficiency for those managing coastal real estate assets in the 08260 zip code area.

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NOI
$80,000
Cap Rate
7.31%
DSCR
1.23
Tight
Cash-on-Cash
4.56%
Monthly Payment
$5,417.463
Annual Cash Flow
$14,990.449

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