5901 New Jersey Avenue
5901 New Jersey Avenue
$810,000
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Sold 4/5/24
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.
Property Details for 5901 New Jersey Avenue
MLS #
240488
DOM44
ClassMULTI-FAMILY
LocationCorner, Island
Sale/RentFor Sale
TypeMixed Use
Location
LISTING UPDATED: 04/26/2024 11:26 AM
Property Details for 5901 New Jersey Avenue
Status | Sold |
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MLS # | 240488 |
Days on Market | 44 |
Taxes | $5,881 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | - |
MLS Type | - |
Year Built | - |
Lot Size | 0.09 AC / 4,000 SF |
County | Cape May County |
Location
Building Information for 5901 New Jersey Avenue
Stories-Residences-Year Built-Lot Size0.09 AC / 4,000 SF
Payment Calculator
$4,911 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 5901 New Jersey Avenue
Property History for 5901 New Jersey Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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 |
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Public - | PK to 8 |
Rating | School | Distance |
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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.
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