916 Wesley Ave

Ocean City, NJ
$ 2,000,000 Beds 0 Baths 23
Monthly Estimate* How much can I afford?

BACK ON MARKET-Come See This CASH GENERATING property in person & BRING AN OFFER! Sellers motivated to close quickly. Over $300K in gross rents, 90-100% occupancy w/increasing income & waiting list, this CASH FLOWING asset is being sold at 10%+cap rate. Yr-Round Apt/Rooming-House Operation is most incredible CASH STREAM investment opportunity on market! The “Wave Beach House” consists of TWO income-producing buildings w/33 units (mostly rooms & some apts) on huge 50x120 Tri-Plex lot. 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. This CASH MACHINE is located in heart of Ocean City, just 2 blocks to Beach/Boardwalk & is perfect for savvy investor looking to buy a very rare income generating property w/spectacular ROI--w/ongoing upside! Accommodations for local contractors, church volunteers & yr-round resort employees are extraordinarily difficult to find & yet exceptionally in high demand, which keeps building fully occupied. Being Sold AS IS w/no contingencies. Cash offers only. P&L financials w/rent roll & property site visit available to serious qualified buyers w/receipt of a signed NDA. Call Now!

Commercial

  • Price
  • $ 2,000,000
  • Lot Size
  • Bedrooms
  • 0
  • Full Bathrooms
  • 23
  • Half Bathrooms
  • 0
  • City, Zip
  • Ocean City
  • County
  • CAPE MAY
  • Style
  • Comm. w/Apartments,Commercial,Hotel
  • Area
  • Ocean City-Central
  • MLS#
  • 543458
  • Zip
  • 08226
Listing Provided by: Keller Williams Realty Jersey Shore-Ocean City

Features

General

Class COMMERCIAL/INDUSTRIAL
Flooring Carpet-Wall to Wall, Hardwood, Linoleum/Vinyl
Heating Baseboard, Hot Water, Radiator
Listing Area Ocean City/Central
Parking 1 to 5 Spaces
Road Frontage State
Roof Asphalt
Sewer Public Sewer
Status Active
Status Active
Style Comm. w/Apartments, Commercial, Hotel, Other (See Remarks)
Water Public

Interior Features

# of Units 33
Air Conditioning Ceiling Fan(s), Window Units
Basement Crawl Space
Hot Water Gas
Interior Features Fire Sprinkler System, Smoke/Fire Alarm, Storage
Specialty Rooms Laundry Room, Utility Room
Stories 4

Exterior Features

Exterior/Siding Asbestos, Brick, Frame/Wood
Lot Dimensions 50 x 120
Number of Buildings 1

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$3,068

Per Month

Based on the average sale price from the Villas, NJ office

  • Monthly Principal & interest $1,939
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
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Let's determine your purchasing power. Working with my mortgage partner, you'll have the information you need to shop for a home with confidence.

Default based on a 30-year fixed rate of 4.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Schools

Elementary School Unknown Elementary School
Middle School Unknown Middle School
High School Unknown High School

Price History

10/14/2020 Listed $2,000,000

Property vs Zip Code Average in 08226

Price
AVG $490K
$2M
Visits
AVG 18
3
Walkscore
AVG 72
77
Data Provided by Walkscore ® not using MLS data

Map

916 Wesley Ave Ocean City, NJ is a Single Family Home for sale at $2000000 and a lot size of Acre(s). 916 Wesley Ave Ocean City has 0 bedrooms, 23 baths . The property's zip code is 08226 which is in Ocean City, NJ

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 4.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.