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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01/2 BATHS
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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