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916 Wesley Avenue, Ocean City

For Sale: $2,000,000   |   Under Contract

MLS: 548174   |   Bedrooms: 0   |   Bathrooms: 23   |   Type: COMMERCIAL/INDUSTRIAL   |   DOM: Days

This year-round Rooming-House Operation is the most incredible CASH STREAM investment property on market boasting consistent CASH ON CASH returns for its owners. Income producing asset generated over $250K gross rents in 2020 maintained 90-100% occupancy throughout year projected to do $320K gross rents in 2021, plus has a waiting list to get in! The Wave Beach House is located in heart of OCNJ, just 2 blocks to pristine Beaches & Boardwalk. It's perfect for any savvy investor looking to buy a rare income generating ROI property w upside! Property consists of TWO income-producing buildings w 33 units (mostly rooms & some apts) on huge 50x120 by rights Tri-Plex development lot in heart of hospitality zone. 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. Accommodations for local contractors, church volunteers & yr-round resort employees are very difficult to find & yet in high demand, which keeps building fully occupied. Cash contract offers only. Being sold AS IS w no contingencies. Financials w rent roll & property site visit available to serious qualified buyers w receipt of a signed NDA & POF. Call Now!

AMENITIES

  • Heating:Baseboard   
  • Heating:Hot Water   
  • Heating:Radiator   
  • Heater:Gas  
  • Fire Sprinkler System  
  • Smoke/Fire Alarm  
  • Storage  
  • Cooling:Ceiling Fan(s)  
  • Cooling:Window Units  
  • Public Sewer  

PROPERTY LOCATION / MAP
Last Database Update: 06/16/2021

 Listing Courtesy of Keller Williams Realty Jersey Shore-Ocean City.
© 2015 South Jersey Shore Regional MLS. All rights reserved. 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 MLS. Real Estate listings held by brokerage firms other than Cesari Real Estate are marked with the Broker Reciprocity logo (a little black house) and detailed information about them includes the name of the listing brokers. Information is deemed reliable but is not guaranteed. The broker providing these listings to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. The information being provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties in which they may be interested in purchasing.
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916 Wesley Avenue, Ocean City

For Sale: $2,000,000 / MLS: 548174

Beds: 0 /
Baths: 23 /
COMMERCIAL/INDUSTRIAL

/
DOM: Days
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