840 Ocean Ave Unit ##27, Ocean City, NJ 08226

$100,000
1
BD
1
BA
Sold Price
$100,000
List Price
$119,900
Status
SOLD CO OP NON MEMBER
Closing Date
Sep 28, 2021
MLS#
538251
Unit
#27
Bedrooms
1
Bathrooms
1
Region
Ocean City/Central
City
Ocean City

Property Description

Multiple Units Offered: Unit #27 = $119,900, Unit #12 = $124,900, Unit #23 = $129,900 Investor's Alert - Also offering a DISCOUNTED Package Deal. All Three Remaining Units being sold (#12, #23, #27) - all at once at the discounted price of $100,000 each. NOTE: Unit #7 (formerly part of this multi-unit offering) just sold 5/27/21 for $118,000). These are Efficiency & 1BR, 1BA units. Gross Rents Collected 2019 = $36,320.83. Net Rents (no mortgages on units) = AFTER all expenses including Rental Program Expenses = $19,785.00, a return on $300K cash invested of +6.6%. Building has on-site rental program, heated pool, fantastic 9th & Ocean Avenue location. COVID 2020 SUMMER UPDATE: Gross Rents Collected (3 units) 2020 Summer (COVID Summer - opened 6/1/20 and closed 9/30/20 + Winter 20-21 Rental) = $27,560. Net Rents 2020 = $11,561.00 (after all ownership and operational expenses (no mortgage) including rental program). +3.5% return. See Associated Docs for more info.

Additional Information

Hoa Includes
Amenities, Insurance, Maintenance, Management, Sewer, Trash, Water, Cable, Pool
Cooling
Electric, Wall Units
Heating
Baseboard
Parking Description
None
Parking Exterior
One Car
Water
Public Water

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Fox Real Estate-Ocean. Selling Office: .

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