220 40th Street

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220 40th Street

Sea Isle City, NJ 08243
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).

  • Located at 220 40th Street in Sea Isle City, New Jersey.
  • The asset consists of two residential apartment units.
  • Property is currently listed for sale as a multifamily investment.
  • The building is situated within the popular coastal Cape May market.
  • Multifamily asset class suitable for seasonal or long-term rental use.

What's Special

This two-unit multifamily apartment building at 220 40th Street in Sea Isle City, New Jersey, presents a residential investment option within this coastal market. Situated in a popular shore community, the property is positioned to serve individuals looking for seasonal or year-round coastal living. The asset type allows for various operational strategies, including long-term rental income or potential use as a vacation destination. Sea Isle City maintains a consistent demand for housing due to its regional appeal as a tourist destination and a seaside residential hub. Investors can leverage the existing structure to capture value in an area characterized by its proximity to the Atlantic shoreline and local commercial amenities. This building functions as a straightforward acquisition for those looking to expand their residential holdings in the Cape May County submarket.

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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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