819 Moorlyn Terrace

Ocean City, NJ, 08226

$6,000,000

$6,000,000
Active
Active
 - For Sale
property_type
Commercial
Where can you find an apartment building anywhere in this country at a 8-9% CAP RATE? Probably nowhere... until today because HERE IT IS!!! Introducing Ocean City’s "Beach House”, a fully renovated 8-UNIT income producing apartment building for sale @ 8-9% CAP RATE – and it includes UPSIDE! Increase seasonal cash flows, add winter rentals, and still retain the option to condo these out for individual future resale, if you wish! Each generous unit features 3 Bedrooms/1 Bath, high ceilings, breezy front porch, and an assigned parking space. These incredible income producing units are ideally situated on a highly coveted PRIME BEACH BLOCK/ OFF-BOARDWALK location, on the island resort of Ocean City NJ (“America’s Greatest Family Resort” at the South Jersey Shore). Just steps to its white soft sandy beaches & world famous Ocean City Boardwalk, they are indisputably positioned within the island's highest traffic volume for beach, boardwalk, hospitality & tourist destination spots right in the heart of the Hospitality Zone. Given the historically high level of interest in the Jersey Shore island markets for such an incredibly rare opportunity, coupled with the current high demand for impressive cash flow opportunity (w/lots of upside), time is of the essence! We invite you to explore this unique WEALTH CREATION OPPORTUNITY in further detail. This is your chance to secure an immediate acquisition of income producing assets at an IMPRESSIVE CASH FLOW AT HIGHLY COMPETITIVE CAP RATE, value added upside, & optional condo conversion opportunity. Please note that this offering is affiliated with an adjacent hotel/ multifamily listing. These properties are currently listed 3 ways: $10 million for hotels (801-811 Atlantic Ave) only; $6 million for apartment building (819 Moorlyn Terrace) only; and $16 million for all three parcels altogether comprising 1 ACRE OF BEACH BLOCK / OFF-BOARDWALK property (801 Atlantic Ave). Contact listing agent for Confidentiality/NDA, which is available to financially qualified buyers. Don't hesitate another minute - you must act on this today!
MLS® ID:
566974
Updated:
10/7/22

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Interior Features
220 Volt Electricity, Living Space Available, Other (See Remarks)
Floor Description
Hardwood, Linoleum/Vinyl

Exterior/Building Features

Exterior Features
Swimming Pool, Sign, See Remarks
Architectural Style
Commercial, Comm w/Apartments, Hotel, Motel, Other (See Remarks)
Roof
Asphalt, Pitched
Sewer
Public Sewer

Other Property Details

Area Name
Ocean City/Central
Taxes
$8256
Tax Frequency
per YEAR
Garage
Yes
Parking
Assigned
View
N
County
Cape May
Water Source
Public
Pool
Yes

 

Courtesy of Keller Williams Realty Jersey Shore-Ocean City

Information Deemed Reliable But Not Guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Jeffrey McCrindle shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

©2022 South Jersey Shore Regional MLS. All rights reserved.

Data last updated 2:31 PM UTC, 10/7/22

Contact