$2,000,000

819 Moorlyn Terrace

Ocean City NJ, 08226

Description

CASH! CASH! CASH! Approx $100K in advance deposits already collected (of $175K due for summer season) will be available to buyer at settlement! This is one of the BEST acquisition opportunities on the island available for sale & quick settlement right now! Seasonal apartment rentals generate an average of approx $220K in YOY seasonal revenues & profit at an attractive cap rate + additional future winter rental income can be one of many buyer upsides. This AS IS offering is for the purchase of a seasonally operated apartment building consisting of eight 2-bed/1-bath units+onsite parking in back of building. These apartment units include: living room, dining room, fully equipped kitchen, TV, Free WiFi, AC, ceiling fans, full bathroom & huge outdoor front porches with direct views of the Ocean City boardwalk. All apartments sleep eight (8) people (3 queen beds+queen sofa sleeper). Located in center heart of Ocean City this property sits on large 100 x 75 lot located on BEACH BLOCK & OFF-BOARDWALK! Situated about 100 yards from the boardwalk ramp and the iconic Music Pier, the desirable central Beach Block /Off-Boardwalk location of this property is indisputably positioned with Ocean Citys highest traffic volume for beach, boardwalk, hospitality & tourist destination spots....and tremendous long term upside! Signed NDA/Confidentiality Agreement from qualified buyers required. Motivated Seller just reduced $2.5 million price by $500K for quick sale so BRING OFFERS now!

Details

MLS#536547
Listing TypeFor Sale
Sub-TypeResale
StatusPending
Days On Site138

Features

Units8
Building(s)1
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Area Information
StateNJ
CountyCape May
CityOcean City
Zip Code08226
AreaOcean City/Central
Listing VS Median (in 08226)
Price:
$2,000,000
low | high
Med:
$699,000
100% of Average
On Site:
138
low | high
Med:
23
100% of Average
Listing Updated: 09/17/2020
KRISTINA DOLISZNY LogoMLS Number: 536547
Listing Provided By:
KRISTINA DOLISZNY  of  Keller Williams Realty Jersey Shore-Ocean City
The information is being provided by South Jersey Shore Regional MLS. Information deemed accurate but not guaranteed. Information is provided for consumers' personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2020 South Jersey Shore Regional MLS. All Rights Reserved.
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