5901 New Jersey Avenue

Wildwood Crest, NJ 08260

$810,000
Last Sold Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Introducing a remarkable investment opportunity at 5901 New Jersey Ave in Wildwood Crest, a mixed-use triplex that stands on a valuable 40x100 corner lot and presents a unique blend of commercial and residential offerings. This property is a testament to savvy investing, having undergone extensive renovations including a new roof, stylish siding, efficient windows, welcoming decking, sturdy railings, secure exterior doors, and azek trim for durability, ensuring it is both modern and low-maintenance....Introducing a remarkable investment opportunity at 5901 New Jersey Ave in Wildwood Crest, a mixed-use triplex that stands on a valuable 40x100 corner lot and presents a unique blend of commercial and residential offerings. This property is a testament to savvy investing, having undergone extensive renovations including a new roof, stylish siding, efficient windows, welcoming decking, sturdy railings, secure exterior doors, and azek trim for durability, ensuring it is both modern and low-maintenance. The triplex consists of a large commercial unit with several office spaces, a kitchenette, and a half bathroom, making it ideal for a variety of business ventures. Complementing this are two residential units, each boasting two bedrooms and one bathroom, with one of the apartments recently renovated to enhance its appeal. All units are currently leased to reliable tenants, establishing a stable income stream with the property generating over $50,000 in gross rental income annually. Tenants are responsible for their own utilities, except for water/sewer, and with separate meters for electric and gas, the setup is perfect for a potential condo conversion in the future. The inclusion of a large concrete parking pad offers ample off-street parking, a significant advantage in Wildwood Crest, alongside additional storage space. With little to no work left to be done, this property not only promises immediate returns but also the potential for growth, making it an ideal investment for those looking to expand their portfolio in a prime location.

Listing Agent

Property Details for 5901 New Jersey Avenue

MLS #
240488
DOM
44
Class
MULTI-FAMILY
Location
Corner, Island
Sale/Rent
For Sale
Type
Mixed Use

Location

Sold By Non Member

Add your commute
LISTING UPDATED: 04/26/2024 11:26 AM

Property Details for 5901 New Jersey Avenue

StatusSold
MLS #240488
Days on Market44
Taxes$5,881 / year
HOA Fees-
Condo/Co-op Fees-
Compass Type-
MLS Type-
Year Built-
Lot Size0.09 AC / 4,000 SF
CountyCape May County

Location

Sold By Non Member

Add your commute

Building Information for 5901 New Jersey Avenue

Stories-Residences-Year Built-Lot Size0.09 AC / 4,000 SF

Payment Calculator

$4,911 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,421

Property Taxes

$490

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 5901 New Jersey Avenue

Summary
Location and General Information
  • Area: Wildwood Crest
  • Suitable For: Condo Conversion
  • Address Number: 5901
  • Address Search Number: 5901.0
  • Address Street: New Jersey
  • City: Wildwood Crest
  • Street Designation: Avenue
  • Beach Proximity: 3 Blocks
  • Bay Proximity: 3 Blocks
  • Address: 5901 New Jersey Avenue
  • Status: SOLD NON MEMBER
  • State: NJ
  • Zip: 08260
  • Status Detail: 2
Taxes and HOA Information
  • Taxes: $5,881.00
  • Tax Year: 2023
Parking
  • Parking: Parking Pad,3 Car,Concrete Driveway
Property
Lot Information
  • Lot Size: 40x100
  • New Construction Y/N: No
  • Lot Number: 25
  • Block Number: 27
Property and Assessments
  • May B Sub to 3rd pty Appr: No
Utilities
  • Heating: Gas Natural, Electric, Forced Air, Multi-Zoned
  • Cooling: Ceiling Fan, Central Air, Multi Zoned
  • Hot water: Electric
  • Water: City
  • Sewer: City
  • Separate Meter: Electric,Gas
Interior and Exterior Features
Interior Features
  • Other rooms: Storage Space
  • Total # of Baths: 2
  • Unit 2 Bedrooms: 2.0
  • Unit 3 Bedrooms: 2.0
  • Unit 1 Number: A
  • Unit 3 Number: C
  • Unit 1 Rent: 1700
  • Unit 2 Rent: 885
  • Unit 3 Rent: 1750
  • Total Rent: 52020
  • Total # of Lavs: 1
  • Total # of Beds: 4
  • Unit 2 Baths: 1.0
  • Unit 3 Baths: 1.0
  • Unit 1 Rooms: 5.0
  • Unit 2 Rooms: 3.0
  • Unit 3 Rooms: 3.0
  • Number of Units: 3.0
  • Basement: Crawl Space
Exterior Features
  • Outside Features: Deck, Sidewalks, Other (See Remarks)

Property History for 5901 New Jersey Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 5901 New Jersey Avenue

Taxable ValueLand$250,600Additions$167,700Total$418,300
Tax Record2022$5,714 ($476 / month)
Home Facts
Total Finished SqFt2,688 SqFtAbove Grade Finished SqFt2,688 SqFtStories2Lot Size3,999 SqFtStyleMiscellaneous CommercialYear Built1940ZoningB-1CountyCAPE MAYAPN15 00027-0000-00025

Schools near 5901 New Jersey Avenue

This home is within Wildwood Crest Borough School District.
Rating
School
Type
Grades
Distance
Public - PK to 8
Rating
School
Distance
Crest Memorial Elementary School
PublicPK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.