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    916 Wesley Ave

    Ocean City, NJ 08226
    • $2,000,000
    • STATUS: Active
    • ON SITE: 172 days
    • MLS #: 539892
    UPDATED: 16 min ago
    $2,000,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    BACK ON MARKET-Come See This CASH GENERATING property in person & BRING AN OFFER! Sellers motivated to close quickly. Over $300K in gross rents, 90-100% occupancy w/increasing income & waiting list, this CASH FLOWING asset is being sold at 10%+cap rate. Yr-Round Apt/Rooming-House Operation is most incredible CASH STREAM investment opportunity on market! The "Wave Beach House consists of TWO income-producing buildings w/33 units (mostly rooms & some apts) on huge 50x120 Tri-Plex lot. Property includes: Large 4-story main Rooming House building consisting of: one 2-bed/1-bath apt; 6 efficiency units; 11 rooms w/private baths; 12 rooms that share 2 baths; coin-operated laundry; HUGE under-utilized attic; & impressive furnace room w/new high-efficiency unit; & Small Apartment-Cottage Building in rear consisting of one 2-bed apartment, one 1-bedroom & 1 efficiency unit. This CASH MACHINE is located in heart of Ocean City, just 2 blocks to Beach/Boardwalk & is perfect for savvy investor looking to buy a very rare income generating property w/spectacular ROI--w/ongoing upside! Accommodations for local contractors, church volunteers & yr-round resort employees are extraordinarily difficult to find & yet exceptionally in high demand, which keeps building fully occupied. Being Sold AS IS w/no contingencies. Cash offers only. P&L financials w/rent roll & property site visit available to serious qualified buyers w/receipt of a signed NDA. Call Now!

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    © 2021 South Jersey Shore Regional MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Cheryl Huber Team. Properties marked with the Broker Reciprocity icon or thumbnail icon (a small house) are provided courtesy of the South Jersey Shore Regional MLS Broker Reciprocity Database. Data last updated 2021-01-18T18:49:59.793.
    www.oceancitynewjerseyhomes.com/homes/108355381
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    916 Wesley Ave Ocean City, NJ 08226

    • Price: $2,000,000
    • Status: Active
    • Updated: 16 min ago
    • MLS #: 539892
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    Neighborhood:
    Ocean City/Central
    County:
    Cape May
    Area:
    Ocean City/Central
    Property Description
    BACK ON MARKET-Come See This CASH GENERATING property in person & BRING AN OFFER! Sellers motivated to close quickly. Over $300K in gross rents, 90-100% occupancy w/increasing income & waiting list, this CASH FLOWING asset is being sold at 10%+cap rate. Yr-Round Apt/Rooming-House Operation is most incredible CASH STREAM investment opportunity on market! The "Wave Beach House consists of TWO income-producing buildings w/33 units (mostly rooms & some apts) on huge 50x120 Tri-Plex lot. Property includes: Large 4-story main Rooming House building consisting of: one 2-bed/1-bath apt; 6 efficiency units; 11 rooms w/private baths; 12 rooms that share 2 baths; coin-operated laundry; HUGE under-utilized attic; & impressive furnace room w/new high-efficiency unit; & Small Apartment-Cottage Building in rear consisting of one 2-bed apartment, one 1-bedroom & 1 efficiency unit. This CASH MACHINE is located in heart of Ocean City, just 2 blocks to Beach/Boardwalk & is perfect for savvy investor looking to buy a very rare income generating property w/spectacular ROI--w/ongoing upside! Accommodations for local contractors, church volunteers & yr-round resort employees are extraordinarily difficult to find & yet exceptionally in high demand, which keeps building fully occupied. Being Sold AS IS w/no contingencies. Cash offers only. P&L financials w/rent roll & property site visit available to serious qualified buyers w/receipt of a signed NDA. Call Now!
    Exterior Features

    Driveway Gravel Garage None Location Boardwalk AreaSee Remarks Lot Dimensions 50 X 120 Outside Features CurbsSidewalks Parking Two Car Siding Exterior AsbestosBrickWood Storms Screens PartialScreens

    Interior Features

    Air Conditioning Ceiling Fan(S)Window Units Also Includes BlindsFurnished Appliances DishwasherDryerGas StoveMicrowaveRefrigeratorSelf Cleaning OvenWasher Basement Crawl Space Heating BaseboardHot WaterRadiator Other Rooms Laundry/Utility RmStorage Attic Water Heater Gas

    Property Features

    Age Range 25+ Years Approved Short Sale N/A Bank Owned Foreclosure No May Be Subject To Third Party Approval Short Sale No Multifamily Type 21 - 50 Units New Construction No Number Of Efficiency Units 7 Number Of1 Bedroom Units 1 Number Of2 Bedroom Units 2 Rental Information 100 Percent OccupancyMonthlySee RemarksWeekly Sale Or Rent For Sale Separate Meters ElectricGas Sewer Public Sewer Suitable For Multi Family + RoomsRooming House Tax Year 2019 Taxes 7600 Water Public

    Listing information © 2021 South Jersey Shore Regional MLS.
    Listing provided courtesy of Keller Williams Realty Jersey Shore-Ocean City.


    © 2021 South Jersey Shore Regional MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Cheryl Huber Team. Properties marked with the Broker Reciprocity icon or thumbnail icon (a small house) are provided courtesy of the South Jersey Shore Regional MLS Broker Reciprocity Database. Data last updated 2021-01-18T18:49:59.793.
     
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    The Cheryl Huber Team
    109 34th St
    Ocean City NJ, 08226