For Sale $169,900 - Condominium
Unit #14 @ The “Sifting Sands” Condo/Motel. 100% gutted, remodeled, improved & refurnished, all new interior May 2022. New “All-in-One” Kitchen, micro, frig/freezer, paint, window blinds, 40″ wall-mounted swivel TV, AC unit, New Kitchen & bath cabs. New Toilet. Sale inc. all-new pots, pans, kitchen supplies. Tiled thruout for maintenance-free ownership. Sifting Sands has been one of Ocean City’s last-operating “Iconic” Center-City Motels, in operation every summer since 1964. The complex was remodeled and converted to condo/motel ownership in ’04. Spectacular location on the corner of 9th & Ocean Ave. On-site required rental program (April 15-Oct 30) guarantees “hands off & hassle free” income. Convenient 1st floor location. Building open year ’round. Block off some personal usage between rentals in the summer for your own usage (14 days max). Off-season usage non-restricted (Nov 1 – April 15) – use at your pleasure…use it, rent it yourself, rent it through a Realtor, whatever you’d like. Well run, stable, well funded professionally managed building. Coin-Op Laundry Room. Condo fee includes water/sewer, hot water, TV cable, Wi-Fi, use of heated pool, parking for one car (w/minimal annual fee), bldg. insurance (fire & flood), exterior maintenance. Owner pays own electric bill ($100/mo +/-), property taxes & interior contents/liability insurance ($500/yr +/-). VERY FEW PROPERTIES IN OCEAN CITY CAN COMPETE WITH THIS. Call Listing Agent for details & questions on personal usage & the Rental Program. The Motel is in full operation – All showings will be in-between Guests. Note: Portfolio “Condo-Tel” financing currently available with 25% down. 2022 Income was $23,786.70 ($19,936.70 summer, $3,850 winter). After all expenses, nets about $8-$9,000 without a mortgage. Typically a 5-6% return.
