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2910 Ocean Avenue, Wildwood, NJ - Active
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For Sale: $1,369,000
Bedrooms: 0     Bathrooms: 0
Half Baths: 0
Type: Mixed Use
    DOM: 18 Days
Sq Ft:
Unit: 13
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PROPERTY DESCRIPTION
Exceptional workforce housing investment opportunity just one block from the beach and boardwalk in one of the Jersey Shore s most in-demand seasonal employment markets. This 14-bedroom, 11-bath property is fully configured for J1 and seasonal employee housing, offering strong existing cash flow with additional upside potential. The property currently accommodates 42 beds across multiple bunk-style rooms, with the ability to expand to 48 beds to further increase revenue. Designed for efficient high-occupancy operation, the property features secure keypad room entry, a spacious common kitchen and dining area, and a highly functional bathroom layout. The second floor includes 8 private shower stalls and 8 private toilet stalls, while the first floor offers two full bathrooms, plus an additional full bathroom within the 2-bedroom apartment. Current operations generate approximately $139,200 in gross annual income, reflecting a 7.09% cap rate based on current operations. Income is derived from seasonal workforce housing revenue averaging approximately $175 per bed, per week, over a 16-week season, in addition to rental income from the 2-bedroom, 1-bath apartment, which is currently rented for $1,800 per month. Situated on a 60x90 corner lot, the property also features 14 off-street parking spaces and large front porches on both levels, adding to the property s functionality and appeal for tenants. An outstanding opportunity for investors, operators, or employers seeking a proven income-producing asset with expansion potential in a prime shore location.
PROPERTY FEATURES
  • Patio 
  • Deck 
  • Living Room 
  • Kitchen 
  • Eat In Kitchen 
  • Pantry 
  • Heating:Electric 
  • Assigned Parking 
  • Concrete Driveway 
  • Heater:Electric 
  • Cooling:Other 
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Request Property Information - 2910 Ocean Avenue, Wildwood NJ

  For Sale: $1,369,000   |   MLS Number: 261237  
Lot: 1 to 6000 SqFt | DOM: 18 Days  
Provided by: Cabrera Coastal Real Estate - https://cabreracoastalteam.com/

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Let Cabrera Coastal Real Estate be your buyer agent for this listing. Listing is provided by DON MARTIN REALTY, INC. The data relating to real estate for sale on this web page appears in part through the Cape May County MLS program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which we participate, and is provided by Cape May County MLS through a licensing agreement. Disclaimer: All information deemed reliable but not guaranteed and should be independently verified. All properties are are subject to change, withdrawal, or prior sale.
Cabrera Companies - Wildwood Crest
Hours of Operation: Monday to Friday 8am-4pm.
Saturday 10am-4pm. Closed on Sundays
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6203 New Jersey Avenue, Wildwood Crest New Jersey

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Vacation Rentals at the South Jersey Shore

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