Renovated Income-Producing Wildwood
For Sale
$1,200,000
120 E Schellenger Ave, Wildwood, NJ 08260
Fully renovated 14-room seasonal rental property near Wildwood attractions.
Property Size3,360 SF
Price / SF$357.14
Days on Market194
Property Features for 120 E Schellenger Ave
General Information
Standard status
Active
Size
3,360 SF
Building Details
Year Built
1960
Listing Agency:
Keller Williams Realty - Washington Township
Listed By:
Thomas P. Duffy · License #8932672
(856) 218-3400
Source:
Lgagne
Added: Mar 27
Changed: Oct 2
Last Checked: Oct 5 at 7:35PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty - Washington Township
Investment Insights
Based on property information with market context.
Located in Wildwood, New Jersey, 120 E Schellenger Ave is a renovated seasonal rental property featuring 14 private rooms. Renovated in 2021, this property includes 9 full bathrooms, two full kitchens, and a common living room. The property is designed to maximize occupancy and efficiency. The seller currently nets approximately $130,000 per season. The property is also available for seasonal rent at $90,000. The property is a short walk to the beach, boardwalk, dining, and nightlife. The property is a 3,360 square foot residential income property.
Key Highlights
- Exceptional income‑producing property netting approximately $130,000 per season.
- Fully renovated in 2021**, offering a turnkey asset with immediate cash flow.
- Prime location in the heart of Wildwood**, a short walk to the beach, boardwalk, dining, and nightlife.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,716
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$914,320
$914.3K
Cap Rate 7%
$653,086
$653.1K
Cap Rate 9%
$507,956
$508.0K
Market Conditions
NOI Build-Up for 3,360 SF
Gross rent
$87.5K $26.04/SF
− Vacancy
−$4.4K −$1.30/SF
EGI
$83.1K $24.74/SF
− OpEx
−$37.4K −$11.13/SF
NOI
$45.7K $13.61/SF
Area
Cape May County, NJ
Vacancy
5.00%
Lease Rate
$26.04 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$914,320
Cap Rate 7%
$653,086
Cap Rate 9%
$507,956
Alternative Uses
Best Use
Apartment 5plus
$653.1K
$571.5K – $761.9K
NOI $45,716 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$899.9K – $1.20M
NOI $71,995 @ 7.0% cap · market cap 6.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,758
Businesses Nearby
Explore this area
Business Placement
Demographics for 08260, NJ
12,964
Population
23,076
Households
0.6
Avg Household Size
53
Median Age
28%
College-Educated
93%
High-School Grad
15.9 sq mi
ZIP Area
815
Density / Sq Mi
$71,549
Median Household Income
$40,361
Median Earnings
$1,182
Median Rent
$441,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Short term rental property - Fully renovated 14-room seasonal rental property near Wildwood attractions.
Where is this short term rental property located?
The property is located at 120 E Schellenger Ave Wildwood, NJ.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Exceptional income‑producing property netting approximately $130,000 per season.; Fully renovated in 2021**, offering a turnkey asset with immediate cash flow.; Prime location in the heart of Wildwood**, a short walk to the beach, boardwalk, dining, and nightlife.
