Four-Unit Multifamily
For Sale
$520,000
155 W HAND AVE, Wildwood, NJ 08260
Shell-condition building with a legal four-unit configuration and two two-bedroom units alongside two one-bedroom units.
Property Size1,948 SF
Price / SF$266.94
Days on Market8
Property Features for 155 W HAND AVE
General Information
Standard status
Active
Size
1,948 SF
Property subtype
Multi-family
Listing Agency:
HomeSmart First Advantage Realty
Listed By:
Hakan Karahan · License #5758
(856) 363-3000
Source:
Graves
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 16 at 9:05AM
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 HomeSmart First Advantage Realty
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Investment Insights
Based on property information with market context.
This 1,948-square-foot multifamily property is configured as four legal units: two two-bedroom apartments and two one-bedroom apartments. The building is in shell condition and requires a complete renovation; it is being offered in its current condition.
The property is three blocks from the beach and boardwalk, with multiple restaurants within walking distance.
The property is three blocks from the beach and boardwalk, with multiple restaurants within walking distance.
Key Highlights
- Legal four‑unit property configured with two two‑bedroom and two one‑bedroom units
- 1,948‑square‑foot shell building requiring complete renovation
- Three blocks from the beach and boardwalk
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,834
Cap Rate
5.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$576,680
$576.7K
Cap Rate 7%
$411,914
$411.9K
Cap Rate 9%
$320,378
$320.4K
Market Conditions
NOI Build-Up for 1,948 SF
Gross rent
$43.2K $22.20/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$41.2K $21.15/SF
− OpEx
−$12.4K −$6.34/SF
NOI
$28.8K $14.80/SF
Area
Cape May County, NJ
Vacancy
4.75%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$576,680
Cap Rate 7%
$411,914
Cap Rate 9%
$320,378
Alternative Uses
Best Use
Multifamily LT 5
$411.9K
$360.4K – $480.6K
NOI $28,834 @ 7.0% cap · market cap 5.55%
Second Best
Apartment 5plus
$378.6K
$331.3K – $441.7K
NOI $26,504 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$596.3K
$521.8K – $695.7K
NOI $41,740 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,166
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
Frequently Asked Questions
What type of property is this?
Quadplex - Shell-condition building with a legal four-unit configuration and two two-bedroom units alongside two one-bedroom units.
Where is this quadplex located?
The property is located at 155 W HAND AVE Wildwood, NJ.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Legal four‑unit property configured with two two‑bedroom and two one‑bedroom units; 1,948‑square‑foot shell building requiring complete renovation; Three blocks from the beach and boardwalk
