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840 Ocean Ave, Ocean City, NJ 08226 (MLS # 538251)

Price $114,900
Status Active
Beds 1
Baths 1 Bath
Home size n/a
Lot Size n/a
Days on Market 322
Multiple Units Offered: Unit #27 = $114,900, Unit #7 = $119,900, Unit #12 = $124,900, Unit #23 = $129,900 Investor's Alert - Also offering a DISCOUNTED Package Deal. All Four Units being sold (#7, #12, #23, #27) - all at once at the discounted price of $80,000 each. These are (4) FOUR 1BR, 1BA units. Gross Rents Collected 2019 = $76,971.40. 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 = 8.08%. Building has on-site required rental program, heated pool, fantastic 9th & Ocean Avenue location. UPDATE: Gross Rents Collected 2020 Summer (COVID-19 Summer - opened 6/1/20 and closed 9/30/20 + Winter 20-21 Rental) = $59,417.40. Net Rents 2020 = $13,702.01 (after all expenses including rental program). See Associated Docs for more info.
Property Type(s): Condo/Townhouse/Co-Op
Last Updated 5/5/2021 Year Built 0
Community Ocean City/Central County Cape May

Price History

Prior to May 5, '21 $320,000
May 5, '21 - Today $114,900

Additional Details

AIR Electric, Wall Units
AIR CONDITIONING Yes
AMENITIES Amenities, Cable, Deck/Porch, Insurance, Laundromat On Site, Maintenance, Management, Outside Shower, Pool, Pool;Cable TV, Sewer, Trash, Water
APPLIANCES Electric Stove, Microwave, Refrigerator
AREA Ocean City/Central
CONSTRUCTION Concrete, Masonry/Block, Stucco
GARAGE None
HEAT Baseboard
LOT 0
LOT DESCRIPTION First Floor, Second Floor
MASTER ON MAIN Yes
PARKING One Car
SEWER Public Sewer
STORIES 1
STYLE Converted Motel
TAXES 1
WATER Public Water

Location

 

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Listed with Fox Real Estate-Ocean

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