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Property Details

840 Ocean Ave., #7, #12, #23, #27 - Ocean City

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For Sale $320,000 - Condominium
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). 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. 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) = $59,417.40. Net Rents 2020 = $13,702.01 (after all expenses including rental program). See Associated Docs for more info.
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Agent Jesse Briglia

  • Office : 609-399-5377


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