Property Description

Investor’s Alert – This is a DISCOUNTED Package Deal. Four Units being sold (#7, #12, #23, #27) – all at once at the discounted price of $80,000 each. (Average Sale Price Units These Sizes = $100,000 to $110,000). Gross Rents Collected 2019 = $48,804.14. Net Rents (no mortgages on units) = $25,863.60 after all expenses including Rental Program Expenses. Net “cash on cash” ROI at $320,000 purchase price = 8.07%. Building has on-site required rental program, heated pool, fantastic 9th & Ocean Avenue location. Units for sale individually (#7, #12, #27) at $115,000. UPDATE: Gross Rents Collected 2020 Summer (COVID-19 Summer – opened 6/1/20 and closed 9/30/20 + Winter 20-21 Rental) = $37,285.86. Net Rents 2020 = $16,210.49 (after all expenses including rental program). See Associated Docs for more info.

Features
: Baseboard
: Electric, Wall units
: No pets allowed
: One car
Address Map
US
NJ
Cape May
Ocean City
08226
Ocean
840
MLS Addon
Active
Converted Motel
Public Water
Public Sewer
Electric Stove,Microwave,Refrigerator
None
JESSE
BRIGLIA
JESSE REAL ESTATE
#7-#12-#23-#27
Amenities,Insurance,Maintenance,Management,Sewer,T
No
996

Condominium For Sale

840 Ocean, Ocean City, New Jersey 08226

1 Bedrooms
1 Bathrooms
$320,000
Listing ID #538251
Basic Details
Property Type : Condominium
Listing Type : For Sale
Listing ID : 538251
Price : $320,000
Bedrooms : 1
Bathrooms : 1
Agent info
Peter Madden
200 34th St.
Mortgage Calculator
$
$ %
years
%
$ %per year
$ %per year

$
Contact Agent
Style Selector
Select the layout
Choose the theme
Preset colors
No Preset
Select the pattern