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Property Details

840 Ocean Avenue, Unit #12 - Ocean City

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Pending/Under Contract $124,900 - Condominium
1 Bedroom1 Bathroom Print this page
Multiple Units Offered: Unit #27 = $119,900, Unit #12 = $124,900, Unit #23 = $129,900 Investor’s Alert – Also offering a DISCOUNTED Package Deal. All Three Remaining Units being sold (#12, #23, #27) – all at once at the discounted price of $100,000 each. NOTE: Unit #7 (formerly part of this multi-unit offering) just sold 5/27/21 for $118,000). These are Efficiency & 1BR, 1BA units. Gross Rents Collected 2019 = $36,320.83. Net Rents (no mortgages on units) = AFTER all expenses including Rental Program Expenses = $19,785.00, a return on $300K cash invested of +6.6%. Building has on-site rental program, heated pool, fantastic 9th & Ocean Avenue location. COVID 2020 SUMMER UPDATE: Gross Rents Collected (3 units) 2020 Summer (COVID Summer – opened 6/1/20 and closed 9/30/20 + Winter 20-21 Rental) = $27,560. Net Rents 2020 = $11,561.00 (after all ownership and operational expenses (no mortgage) including rental program). +3.5% return. See Associated Docs
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Agent Jesse Briglia

  • Office : 609-399-5377


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