916 Wesley Ave Ocean City NJ 08226 | Keller Williams Realty

  • 916 Wesley Ave 

  • Ocean City, NJ 08226
  • 0 bed | 23 fullbath | 0 sqft | Commercial
  • $995,000

  • Est. Monthly Payment: $1,232,123/mo calculator
Agent Photo

Kristina Doliszny

group vice president & team leader, realtor

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What is Nearby 08226:

Restaurants Grocery Banks Gas Stations

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Description

CASH COW! Multi-Family Rental/Rooming House Investment Is An Unbelievable EYE POPPING JAW DROPPING Cash Cow! Very RARE FIND & ideally located just 2 blocks from beach & boardwalk on HUGE 50 x 120 lot, this year-round rooming house is a CASH MACHINE! It features 33 units; runs 80-100% occupancy & it's intentionally being offered at 14%+ cap rate to facilitate quick sale!??Incredible cash investment opportunities like this one is nearly impossible to come by??? especially at this cap rate. Investment property consists of TWO RENTAL BUILDINGS:?? Large 4-story main front building & 2nd rear rental income building is located off alley. It includes reliable full time on-site manager. Front building has 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; furnace room w/new very high-efficiency gas boilers installed in 2015; & large storage attic. And it doesn???t stop there???2nd rear cottage building consists of one 2-bed apt, one 1-bed apt & one efficiency unit. Off street parking is available for 2 cars. Future upside w/this lucrative acquisition is TRI-PLEX DEVELOPMENT option (Two 5-bed/4-bath units & 3rd unit w/3 Bed/3 Baths). Seller's property docs w/financials available to qualified investor/buyers only w/signed NDA & proof of funds...PLEASE CALL ASAP to submit your offer now, before someone else steals it from under you! Showings agent accompanied & w/advance appt required. Please see agent remarks.

Interior Features

  • Bedrooms: 0
  • Full Baths: 23
  • Living Rooms: 0
  • SQFT: 0

Exterior Features

  • Lot Size: 0.0
  • Stories: 4

Utilities

  • Central Air: Ceiling Fan(s),Window Unit(s) A/C
  • Heating Desc: Baseboard,Hot Water,Radiator

Community Details

Additional Information

  • County: Cape May
  • Property Type: Commercial
  • Annual Taxes: 7529

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