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Key Details
Sold Price $118,000
Property Type Condo
Sub Type Condo
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 551083
Sold Date 05/27/21
Style Converted Motel
Bedrooms 1
Full Baths 1
Annual Tax Amount $669
Tax Year 2020
Property Description
Multiple Units Offered: Unit #27 = $119,900, Unit #7 = $119,900, Unit #12 = $124,900, Unit #23 = $129,900 Investor's Alert - Also offering a DISCOUNTED Package Deal. All 4 Units being sold (#7, #12, #23, #27) - all at once at the discounted price of $100,000 each. These are (4) FOUR 1BR, 1BA units. Gross Rents Collected 2019 = $76,971.40. Net Rents (no mortgages on units) = $25,863.60 after all expenses including Rental Program Expenses. Building has on-site required rental program, heated pool, fantastic 9th & Ocean Avenue location. UPDATE: Gross Rents Collected 2020 Summer (COVID-19 Summer - opened 6/1/20 and closed 9/30/20 + Winter 20-21 Rental) = $59,417.40. Net Rents 2020 = $13,702.01 (after all expenses including rental program).
Location
State NJ
County Cape May
Community Ocean City
Area Ocean City/Central
Location Details Corner,Boardwalk Area
Interior
Heating Electric, Forced Air
Exterior
Exterior Feature Concrete, Masonry/Block, Stucco
Parking Features None
Building
Story Two
Unit Location First Floor,Pool View
Sewer Public Sewer
Water Public Water
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