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916 Wesley Ave, Ocean City, 08226 Main Picture 916 Wesley Ave, Ocean City, 08226 Aditional Picture916 Wesley Ave, Ocean City, 08226 Aditional Picture916 Wesley Ave, Ocean City, 08226 Aditional Picture916 Wesley Ave, Ocean City, 08226 Aditional Picture916 Wesley Ave, Ocean City, 08226 Aditional Picture916 Wesley Ave, Ocean City, 08226 Aditional Picture916 Wesley Ave, Ocean City, 08226 Aditional Picture916 Wesley Ave, Ocean City, 08226 Aditional Picture916 Wesley Ave, Ocean City, 08226 Aditional Picture916 Wesley Ave, Ocean City, 08226 Aditional Picture916 Wesley Ave, Ocean City, 08226 Aditional Picture916 Wesley Ave, Ocean City, 08226 Aditional Picture916 Wesley Ave, Ocean City, 08226 Aditional Picture916 Wesley Ave, Ocean City, 08226 Aditional Picture916 Wesley Ave, Ocean City, 08226 Aditional Picture

916 Wesley Ave, Ocean City, 08226

$1,500,000

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HIGH CASH FLOW ASSET! Offered at over 12.5% CAP RATE, this Year-Round Rooming-House Operation is the most incredible CASH STREAM investment acquisition opportunity on the market! Located in heart of Ocean City on huge 50x120 Tri-Plex development lot, just 2 blocks from Beach/Boardwalk & locally known as “The Wave Beach House”, this CASH MACHINE features 33-units (mostly rooms & few apartments); runs 90-100% occupancy; & perfect for any savvy investor looking to purchase very rare CASH FLOW property w/spectacular ROI--which is absolutely impossible to come by--especially at this cap rate w/upside! Accommodations for local contractors, church volunteers & yr-round resort employees are extraordinarily difficult to find & is in exceptionally high demand, which keeps building nearly 100% occupied. Property features TWO RENTAL INCOME BUILDINGS: #1: Large 4-story main Rooming House building, consists of 4 floors w/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. #2: Small Apartment-Cottage Building in rear, consists of one 2-bedroom apartment, one 1-bedroom & one efficiency unit. Off street parking for 2 cars. Operation includes full time reliable manager who is willing to stay, if needed. Due to high cap rate offering, property is Being Sold AS IS w/no contingencies. NDA required prior to confirming site visit. See agent remarks.

Listing courtesy of: KELLER WILLIAMS REALTY JERSEY SHORE-Ocean City
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional Multiple Listing Service. Some properties which appear for sale on this website may no longer be available because they are under contract, have sold or are no longer being offered for sale. Information is deemed to be accurate but not guaranteed. Copyright South Jersey Shore Regional Multiple Listing Service. All rights reserved.
Total Rooms
Full Bath 0
# of Stories
Year Build
Lot Size
Tax
SQFT
OutsideFeaturesCurbs, Sidewalks
OtherRoomsLaundry/Utility Rm, Storage Attic
HeatingBaseboard, Hot Water, Radiator
HotWaterGas
SewerPublic Sewer
Bedrooms 0
Half Bath 0
# of Stories
Lot Dimensions
# Units 21 - 50 Units
Tax Year
Area Ocean City/Central
ParkingGarageNone
BasementCrawl Space
CoolingCeiling Fan(s), Window Units
WaterPublic
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HIGH CASH FLOW ASSET! Offered at over 12.5% CAP RATE, this Year-Round Rooming-House Operation is the most incredible CASH STREAM investment acquisition opportunity on the market! Located in heart of Ocean City on huge 50x120 Tri-Plex development lot, just 2 blocks from Beach/Boardwalk & locally known as “The Wave Beach House”, this CASH MACHINE features 33-units (mostly rooms & few apartments); runs 90-100% occupancy; & perfect for any savvy investor looking to purchase very rare CASH FLOW property w/spectacular ROI--which is absolutely impossible to come by--especially at this cap rate w/upside! Accommodations for local contractors, church volunteers & yr-round resort employees are extraordinarily difficult to find & is in exceptionally high demand, which keeps building nearly 100% occupied. Property features TWO RENTAL INCOME BUILDINGS: #1: Large 4-story main Rooming House building, consists of 4 floors w/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. #2: Small Apartment-Cottage Building in rear, consists of one 2-bedroom apartment, one 1-bedroom & one efficiency unit. Off street parking for 2 cars. Operation includes full time reliable manager who is willing to stay, if needed. Due to high cap rate offering, property is Being Sold AS IS w/no contingencies. NDA required prior to confirming site visit. See agent remarks.

Property 2

916 Wesley Ave, Ocean City

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  • 0.0

  • $1500000

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