4-Unit Quadplex with Detached
New
For Sale
$750,000
206 E GLENWOOD AVENUE, Wildwood, NJ 08260
Condo approval allows for potential individual resale of the residences.
Property Size3,600 SF
Price / SF$208.33
Days on Market7
Property Features for 206 E GLENWOOD AVENUE
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Quadruplex
Additional Details
Road Access
Yes
Multifamily Units
4
Building Details
Year Built
1920
Listing Agency:
EXP Realty, LLC
(866) 201-6210
Listed By:
Nicole Klein · License #2299586
(215) 872-6288
Source:
Cummingsrealtors
Added: Oct 6
Changed: Oct 11
Last Checked: Oct 11 at 8:56AM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 3,600-SF quadplex dates to 1920 and contains four units. Condo approval is in place, and one residence has been updated. The property also includes a detached cottage with separate utility service; three of the four units have potential for updates.
The property is on the 200 block of East Glenwood Avenue in Wildwood, two blocks from the beaches and Boardwalk.
The property is on the 200 block of East Glenwood Avenue in Wildwood, two blocks from the beaches and Boardwalk.
Key Highlights
- Four residential units totaling 3,600 SF
- Condo‑approved units offer potential for individual resale
- Detached cottage has its own utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,287
Cap Rate
7.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,065,740
$1.1M
Cap Rate 7%
$761,243
$761.2K
Cap Rate 9%
$592,078
$592.1K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$79.9K $22.20/SF
− Vacancy
−$3.8K −$1.05/SF
EGI
$76.1K $21.15/SF
− OpEx
−$22.8K −$6.34/SF
NOI
$53.3K $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%
$1,065,740
Cap Rate 7%
$761,243
Cap Rate 9%
$592,078
Alternative Uses
Best Use
Multifamily LT 5
$761.2K
$666.1K – $888.1K
NOI $53,287 @ 7.0% cap · market cap 7.10%
Second Best
Apartment 5plus
$699.7K
$612.3K – $816.4K
NOI $48,981 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$1.10M
$964.2K – $1.29M
NOI $77,138 @ 7.0% cap · market cap 10.29%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,203
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?
Quadplex - Condo approval allows for potential individual resale of the residences.
Where is this quadplex located?
The property is located at 206 E GLENWOOD AVENUE Wildwood, NJ.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Four residential units totaling 3,600 SF; Condo‑approved units offer potential for individual resale; Detached cottage has its own utilities
