819 Moorlyn Terrace

Ocean City, NJ 08226

About this property

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!

Date Added
May 3, 2020
Listing Status
Pending
Days On Site
138
MLS#
536547

Features and Additional Information

Lot Size
0 SqFt
Acreage
0.00
Property Type
MultiFamily
Style
Sub-Type
Resale
Year
Garage
0
Pool
No
Story(s)
Property View
No
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$2,000,000 Pending
0 Beds
0 Full Baths
0 SQFT

Presented By Addison Wolfe Real Estate

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Get in touch today! Phone: (215) 862-5500
Brokerage
New Hope
(215) 862-5500
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Area Information

Ocean City/Central | Cape May County |

$ 2,000,000
This listing is play_arrow 186.1% higher than the average in the area
$ 699,000 in the area
0 SqFt
This listing is play_arrow 0% larger than the average in the area
0 SqFt in the area
$ 0 $/SqFt
This listing is play_arrow 0% less than the average in the area
$ 0 $/SqFt in the area
138 days on site
This listing is play_arrow 66.3% above the average in the area
83 days on site in the area

Schools in the Area

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