Jersey Shore Quadplex (Sandy Home)

[Jp Kilduff]

This is a Quadplex in Wildwood, NJ that was flooded out during Hurricane Sandy.

This property has two buildings sitting on a lot that can be divided. It has units on the first floor (flooded and molded) and units on the second floor which are two stories.

I would recommenced blowing out two bottom units and converting them into garages for flood code compliance and marketability. The number below are based on converting the two buildings into two 3 bed/1.5 bath condos.

Here is the short and sweet of the deal:

Purchase - $100,000
Repairs - $200,000
ARV - $440,000 ($220,000 each)

Potential Profit - $85,000
Potential ROI - 24%

Below is a link to my drive that has all the pictures, videos and a wholesale packet that justifies my ARV.

Property pictures and wholesale packet

This property is under contract and set to close this Friday (May 13). If you have any questions feel free to ask.

John Paul Kilduff
Anchored Homes