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 Citys 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!
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