206 E Glenwood Ave, Wildwood, NJ 08260

Property Description

ATTENTION INVESTORS, DEVELOPERS & FIX-AND-FLIPPERS! RARE 4-UNIT CONDO CONVERSION OPPORTUNITY just two blocks from the Wildwood Beaches & Boardwalk! Tremendous investment with condo approval already in place and Master Deed completed! Renovate and resell individual condos, fix and flip, or hold as an income-producing investment. Featuring 4 units. UNIT BREAKDOWN & RENTAL INCOME: Unit 1 (First Floor): 2BR/1BA – $1,900/month (occupied); Unit 2 (Second Floor): 3BR/1BA – $2,100/month (vacant, estimated rent); Unit 3 (Third Floor): 5BR/1BA – $2,250/month (occupied); Unit 4 (Detached Cottage): 2BR/1BA – $1,600/month (vacant, estimated rent). CURRENT RENTAL INCOME: $4,150/MONTH | PROJECTED RENTAL INCOME: $7,850/MONTH or $94,200 ANNUALLY! One unit has already been updated. Seller reports separate gas, electric, and water meters for all units. An opportunity with multiple investment and resale strategies!