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    916 Wesley Ave

    Ocean City, NJ 08226
    • $2,000,000
    • STATUS: Active
    • ON SITE: 13 days
    • MLS #: 543458
    UPDATED: 34 min ago
    $2,000,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    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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    © 2020 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 2020-10-27T09:52:40.187.
    www.oceancitynewjerseyhomes.com/homes/110977426
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    916 Wesley Ave Ocean City, NJ 08226

    • Price: $2,000,000
    • Status: Active
    • Updated: 34 min ago
    • MLS #: 543458
    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

    Commercial Style CommercialComm. W/ApartmentsHotelOther (See Remarks) Location Boardwalk Area Lot Dimensions 50 X 120 Parking 1 To 5 Spaces Road Frontage State Roof Asphalt Siding Exterior AsbestosBrickFrame/Wood Stories 4

    Interior Features

    Air Conditioning Ceiling Fan(S)Window Units Basement Crawl Space Baths 23 Flooring Carpet-Wall To WallHardwoodLinoleum/Vinyl Heating BaseboardHot WaterRadiator Hot Water Gas Interior Features Fire Sprinkler SystemSmoke/Fire AlarmStorage Specialty Rooms Laundry RoomUtility Room

    Property Features

    Age Range 25+ Years Approved Short Sale N/A Available FurnishingsIncome Expense Info.InventoryLease InformationState Housing CertificateSurveyUtility Information Bank Owned Foreclosure No Buildings 1 May Be Subject To Third Party Approval Short Sale No Sewer Public Sewer Water Public

    Listing information © 2020 South Jersey Shore Regional MLS.
    Listing provided courtesy of Keller Williams Realty Jersey Shore-Ocean City.


    © 2020 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 2020-10-27T09:52:40.187.
     
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    The Cheryl Huber Team
    109 34th St
    Ocean City NJ, 08226