Property Description

BACK ON MARKET-Come See This CASH GENERATING property in person & BRING AN OFFER! Sellers motivated to close quickly. Over $300K in gross rents, 90-100% occupancy w/increasing income & waiting list, this CASH FLOWING asset is being sold at 10%+cap rate. Yr-Round Apt/Rooming-House Operation is most incredible CASH STREAM investment opportunity on market! The “Wave Beach House” consists of TWO income-producing buildings w/33 units (mostly rooms & some apts) on huge 50×120 Tri-Plex lot. Property includes: Large 4-story main Rooming House building consisting of: one 2-bed/1-bath apt; 6 efficiency units; 11 rooms w/private baths; 12 rooms that share 2 baths; coin-operated laundry; HUGE under-utilized attic; & impressive furnace room w/new high-efficiency unit; & Small Apartment-Cottage Building in rear consisting of one 2-bed apartment, one 1-bedroom & 1 efficiency unit. This CASH MACHINE is located in heart of Ocean City, just 2 blocks to Beach/Boardwalk & is perfect for savvy investor looking to buy a very rare income generating property w/spectacular ROI–w/ongoing upside! Accommodations for local contractors, church volunteers & yr-round resort employees are extraordinarily difficult to find & yet exceptionally in high demand, which keeps building fully occupied. Being Sold AS IS w/no contingencies. Cash offers only. P&L financials w/rent roll & property site visit available to serious qualified buyers w/receipt of a signed NDA. Call Now!

Features
: Baseboard, Hot water, Radiator
: Ceiling fan(s), Window units
: Crawl space
: Asphalt
: 1 to 5 spaces
Address Map
US
NJ
Cape May
Ocean City
08226
Wesley Ave
916
MLS Addon
Active
Commercial,Comm. w/Apartments,Hotel,Other (See Rem
Carpet-Wall to Wall,Hardwood,Linoleum/Vinyl
Public
Public Sewer
Gas
Fire Sprinkler System,Smoke/Fire Alarm,Storage
KRISTINA
DOLISZNY
Keller Williams Realty Jersey Shore-Ocean City
1
4
9958

Commercial/industrial For Sale

916 Wesley Ave, Ocean City, New Jersey 08226

23 Bathrooms
$2,000,000
Listing ID #543458
Basic Details
Property Type : Commercial/industrial
Listing Type : For Sale
Listing ID : 543458
Price : $2,000,000
Bathrooms : 23
Agent info
Peter Madden
200 34th St.
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