119 Eldredge Avenue

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119 Eldredge Avenue

West Cape May, 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 at 119 Eldredge Avenue in New Jersey.
  • Property consists of two distinct units for residential rental use.
  • Situated within the coastal borough of West Cape May.
  • Investment potential supports both seasonal and year-round housing needs.
  • Area economy benefits from strong local tourism and regional agriculture.

What's Special

Investors seeking to expand their portfolio will find this two-unit apartment building at 119 Eldredge Avenue a practical asset in West Cape May, New Jersey. This multifamily property serves as a stable residential investment within a coastal borough known for its charming historic character and steady appeal to seasonal residents and permanent locals. The asset provides a straightforward structure suitable for rental operations, offering the flexibility of maintaining two individual units in an established neighborhood. West Cape May functions as a highly desirable destination near the southern tip of the state, benefiting from the proximity to regional beaches, local agriculture, and the broader Cape May economy. The market attracts consistent demand for rental housing due to the local tourism industry and the year-round residential population that values the area's coastal lifestyle. Acquiring this multifamily building positions an investor to capitalize on the sustained need for apartment-style living in this unique 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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