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916 Wesley Ave
Ocean City, NJ 08226
MultiFamily Rooming House /TriPlex Lot · Multifamily Property For Sale
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33 Units
Investment Highlights
- Situated on a large by-rights TriPlex development lot (can develop 3 multi-million dollar condos) – two blocks from Ocean City's Beaches & Boardwalk
- Located on the island of OCEAN CITY NJ, a coveted beach island resort @ the Jersey Shore
- Has significant future proforma upside - Projected to do $320K gross rents in 2021
- Operational Rooming House: TWO RENTAL BUILDINGS with a total of 33 rental units (mostly rooms w/shared baths; efficiencies and some apartments)
- High CASH FLOW Rental Property -Generated over $250K in gross rents in 2020 &
- Maintains a 90-100% occupancy rate year round with a waiting list to get in
Property Facts
Amenities
Unit Amenities
- Cable Ready
- Microwave
- Heating
- Ceiling Fans
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Carpet
- Window Coverings
Site Amenities
- Controlled Access
- Property Manager on Site
- Furnished Units Available
- Laundry Service
- Walking/Biking Trails
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 33 | - | - |
Property Taxes
| Parcel Number | 08-00903-0000-00016 | Improvements Assessment | $112,500 |
| Land Assessment | $673,400 | Total Assessment | $785,900 |
Property Taxes
Parcel Number
08-00903-0000-00016
Land Assessment
$673,400
Improvements Assessment
$112,500
Total Assessment
$785,900
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