508 W Spruce Avenue

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508 W Spruce Avenue

North Wildwood, NJ 08260
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 asset located in North Wildwood, New Jersey
  • Building configuration consists of two individual residential units
  • Property address is 508 W Spruce Avenue in 08260
  • Asset suitable for vacation or long-term rental strategies
  • Located within the coastal landscape of Cape May County

What's Special

This multifamily apartment building contains 2 units and is situated at 508 W Spruce Avenue in North Wildwood, New Jersey. North Wildwood functions as a prominent coastal community within Cape May County, characterized by a seasonal tourism-driven economy and a stable base of year-round residents. The property is positioned to take advantage of the region's appeal for vacation rentals or long-term housing options, given its proximity to the Atlantic coastline and established neighborhood infrastructure. Investors seeking to expand their residential portfolio in a shore town market may find this small-scale asset a practical addition to their holdings. The structure offers potential for versatile leasing strategies, whether targeting vacationers during the peak summer months or maintaining steady occupancy through annual lease agreements in this established seaside destination.

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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

Location & Travel Times