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 City's 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!
This property is not currently displayed as for sale or rent on Zillow. This may be different from what's on other websites or public sources.
