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840 Ocean , #8

Ocean City, NJ 08226
  • $140,000
  • STATUS: Closed
  • ON SITE: 255 Days
  • MLS #: 577453
Sold - 12/04/2023
$140,000
SOLD - 12/04/2023
  • 1
    BEDS
  • N/A
    ACRES
  • 1
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Condo
County:

School Ratings & Info

Description

Unit #8 @ The "Sifting Sands" Condo/Motel. Sale includes all furnishings, 2-TVs and kitchen supplies. Sifting Sands has been one of Ocean City's last-operating "Iconic" Center-City Motels, in operation every summer since 1964. The complex was remodeled and converted to condo/motel ownership in '04. Spectacular location on the corner of 9th & Ocean Ave. On-site required rental program (April 15-Oct 30) guarantees "hands off & hassle free" income. Convenient 1st floor location. Building open year 'round. Block off some personal usage between rentals in the summer for your own usage (14 days max). Off-season usage non-restricted (Nov 1 - April 15) - use at your pleasure...use it, rent it yourself, rent it through a Realtor, whatever you'd like. Well run, stable, well funded professionally managed building. Coin-Op Laundry Room. Condo fee includes water/sewer, hot water, TV cable, Wi-Fi, use of heated pool, parking for one car (w/minimal annual fee), bldg. insurance (fire & flood), exterior maintenance. Owner pays own electric bill ($100/mo +/-), property taxes & interior contents/liability insurance ($500/yr +/-). VERY FEW PROPERTIES IN OCEAN CITY CAN COMPETE WITH THIS. Call Listing Agent for details & questions on personal usage & the Rental Program. Available "Condo-Tel" financing currently offered with 25% down. After all expenses, these units typically net about $7-8,000 without a mortgage, including a winter rental. Actual 2023 Rental Program Income = $17,074.32 gross, minus $8,019.29 program expenses = $9,055.03 net income. With winter rental add another $3,600.

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© 2024 South Jersey Shore Regional MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Oceanside Realty Team | Keller Williams Jersey Shore. Properties marked with the Broker Reciprocity icon or thumbnail icon (a small house) are provided courtesy of the South Jersey Shore Regional MLS Broker Reciprocity Database. Data last updated 2024-05-17T21:50:18.62.
www.theoceansiderealtyteam.com/homes/143078559
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840 Ocean , #8 Ocean City, NJ 08226

  • Price: $159,900
  • Status: Closed
  • On Site: 255 Days
  • Updated: 78 min ago
  • MLS #: 577453
1
Beds
1
Baths
0
½ Baths
N/A
Acres
Neighborhood:
Sifting Sands
County:
Cape May
Area:
Ocean City/Central
Property Description
Unit #8 @ The "Sifting Sands" Condo/Motel. Sale includes all furnishings, 2-TVs and kitchen supplies. Sifting Sands has been one of Ocean City's last-operating "Iconic" Center-City Motels, in operation every summer since 1964. The complex was remodeled and converted to condo/motel ownership in '04. Spectacular location on the corner of 9th & Ocean Ave. On-site required rental program (April 15-Oct 30) guarantees "hands off & hassle free" income. Convenient 1st floor location. Building open year 'round. Block off some personal usage between rentals in the summer for your own usage (14 days max). Off-season usage non-restricted (Nov 1 - April 15) - use at your pleasure...use it, rent it yourself, rent it through a Realtor, whatever you'd like. Well run, stable, well funded professionally managed building. Coin-Op Laundry Room. Condo fee includes water/sewer, hot water, TV cable, Wi-Fi, use of heated pool, parking for one car (w/minimal annual fee), bldg. insurance (fire & flood), exterior maintenance. Owner pays own electric bill ($100/mo +/-), property taxes & interior contents/liability insurance ($500/yr +/-). VERY FEW PROPERTIES IN OCEAN CITY CAN COMPETE WITH THIS. Call Listing Agent for details & questions on personal usage & the Rental Program. Available "Condo-Tel" financing currently offered with 25% down. After all expenses, these units typically net about $7-8,000 without a mortgage, including a winter rental. Actual 2023 Rental Program Income = $17,074.32 gross, minus $8,019.29 program expenses = $9,055.03 net income. With winter rental add another $3,600.
Exterior Features

Garage None Location Boardwalk AreaCorner Parking One Car Siding Exterior Masonry/BlockStoneStucco Stories In Building Two Style Converted Motel Unit Location First FloorPool View Waterfront YN No

Interior Features

Air Conditioning ElectricWall Units Also Includes BlindsFurnished Appliances Electric StoveMicrowaveRefrigerator Heating ElectricSpace/Wall/Floor Levels In Unit One Rooms 3

Property Features

Adult Community /55+ No Approved Short Sale N/A Assoc Fee Includes AmenitiesCableHot WaterInsuranceMaintenanceManagementPoolSewerTrashWater Auction YN No Bank Owned Foreclosure No Common Area Features Cable TVLaundromat On SiteOutside ShowerPatioPool Condo Type Condo Management On-Site Professionals May Be Subject To Third Party Approval Short Sale No New Construction No Pets No pets allowed Possession At ClosingSubject to Tenancy Sale Or Rent For Sale Sewer Public Sewer Tax Year 2022 Taxes 756 Water Public Water

South Jersey Shore Regional MLS logo Listing information © 2024 South Jersey Shore Regional MLS.
Listing provided courtesy of Fox Real Estate-Ocean: .


© 2024 South Jersey Shore Regional MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Oceanside Realty Team | Keller Williams Jersey Shore. Properties marked with the Broker Reciprocity icon or thumbnail icon (a small house) are provided courtesy of the South Jersey Shore Regional MLS Broker Reciprocity Database. Data last updated 2024-05-17T21:50:18.62.
 
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