2910 Ocean Avenue, Wildwood NJ | Keller Williams Jersey Shore

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2910 Ocean Avenue, Wildwood, NJ - Active

For Sale: $1,369,000

Beds: 0 Baths: 0

Type: Mixed Use

Lot: 5401 DOM: 41 Days

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PROPERTY DESCRIPTION

Exceptional workforce housing investment opportunity just one block from the beach and boardwalk in one of the Jersey Shoreâ€™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 propertyâ€™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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ADDITIONAL PROPERTY PICTURES

Request Property Information - 2910 Ocean Avenue, Wildwood NJ

For Sale: $1,369,000 | MLS Number: 261237

Lot: 1 to 6000 SqFt | DOM: 41 Days
Provided by: Keller Williams Jersey Shore - www.kwjerseyshorerentals.com

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