Description
2020 Rent income $36,612.36 net after commissions. Rents solid year after year. (2021 Has 21 weeks rented, over $37,445). This unit was completely gutted and remodeled. 2 short blocks to center of boardwalk and 9th/10th St. beaches. Perfect center city location, EVERYTHING within walking distance! Largest unit in building (@956 sq.ft.). 2BR, 2.BA that Sleeps EIGHT (8). Granite countertops and wood cabinets throughout. In-unit washer/dryer. BR's are on opposite sides of the apartment for extra privacy. Parking for 1 car (City owned Lot, rented annually @$800/yr. off-site). Complex has heated swimming pool, BBQ area and a large spacious sun deck. Condo Fee Includes wi-fi, cable, hot water. 39 unit condo building has a 25% +/- mix of owners that rent weekly or seasonally in the summer and 75% that don't rent at all. Check Associated Docs for P&L. OWNER FINANCING AVAILABLE TO QUALIFIED BUYER. $100,000 Down, 4%, 30 year amortization, 5 year balloon. NOTE - After 5/1/21 all showings Saturdays only 11AM-2PM. This used to be the front rental office for the Sun Beach when the Sun Beach was a motel. Even though Sun Beach no longer operates as a motel, this is still considered a commercial property. It requires a commercial mortgage, a cash buyer or take advantage of the Seller financing. The seller will also buy down any rate differences between a commercial loan and a residential loan.
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2BEDS
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N/AACRES
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2BATHS
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01/2 BATHS
School Ratings & Info
Description
2020 Rent income $36,612.36 net after commissions. Rents solid year after year. (2021 Has 21 weeks rented, over $37,445). This unit was completely gutted and remodeled. 2 short blocks to center of boardwalk and 9th/10th St. beaches. Perfect center city location, EVERYTHING within walking distance! Largest unit in building (@956 sq.ft.). 2BR, 2.BA that Sleeps EIGHT (8). Granite countertops and wood cabinets throughout. In-unit washer/dryer. BR's are on opposite sides of the apartment for extra privacy. Parking for 1 car (City owned Lot, rented annually @$800/yr. off-site). Complex has heated swimming pool, BBQ area and a large spacious sun deck. Condo Fee Includes wi-fi, cable, hot water. 39 unit condo building has a 25% +/- mix of owners that rent weekly or seasonally in the summer and 75% that don't rent at all. Check Associated Docs for P&L. OWNER FINANCING AVAILABLE TO QUALIFIED BUYER. $100,000 Down, 4%, 30 year amortization, 5 year balloon. NOTE - After 5/1/21 all showings Saturdays only 11AM-2PM. This used to be the front rental office for the Sun Beach when the Sun Beach was a motel. Even though Sun Beach no longer operates as a motel, this is still considered a commercial property. It requires a commercial mortgage, a cash buyer or take advantage of the Seller financing. The seller will also buy down any rate differences between a commercial loan and a residential loan.
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Listing information © 2021 South Jersey Shore Regional MLS.