$543,000
$599,900
9.5%For more information regarding the value of a property, please contact us for a free consultation.
900 Wesley #101 Ocean City, NJ 08226
2 Beds
2 Baths
Key Details
Sold Price $543,000
Property Type Condo
Sub Type Condo
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 582123
Bedrooms 2
Full Baths 2
Annual Tax Amount $2,667
Tax Year 2023
Property Description
#101 Sun Beach Condo - 2BR, 2BA residential condo (812 sq.ft. +/-) with heated pool. Sleeps 8. Huge 2nd BR with two queen beds. Master BR with king bed plus full sleep-sofa (Flexsteel) pull-out in LR. Split floorplan has bedrooms on opposite sides of the apartment for added privacy. This building has no front desk and no rental restrictions. Most of the 38 residential units are used as 2nd home vacation get-aways. Use the property as a 2nd home or rent it - use local Realtors, or do it yourself via VRBO, AirBB or others. Currently it's a rental property. Consistently grosses $48,000-$55,000+ every year. Read the Guest Reviews Below! Center City location puts everything a few short blocks away...EZ walking distance to the Beach and the Boardwalk and the shopping on Asbury Avenue. Granite countertops in the kitchen, breakfast bar, dining booth and in both baths. Upgraded wood cabinets in kitchen & baths. In-unit washer/dryer (all others use coin-op common laundry). Complex has heated pool, BBQ area, storage and spacious upper sundeck with loungers, tables & chairs. Sold Fully Furnished & equipped as is. Condo fee includes hot water, TV Cable & Wifi, flood/fire insurance, exterior maintenance. One car parking off-site. Check Associated Docs for lots more info. INVESTORS! Please check out the attached Investment Property Analysis. This property has a multi-year stable rental track record. With 20% down at 7%, 30 years, the property has an after tax (24% Tax Bracket) POSITIVE CASH FLOW starting at year ONE! Try to find that with other properties you are considering!
Location
State NJ
County Cape May
Community Ocean City
Area Ocean City/Central
Rooms
Other Rooms Breakfast Nook, Laundry/Utility Room, Primary BR on 1st floor
Interior
Heating Electric, Space/Wall/Floor
Exterior
Exterior Feature Concrete, Masonry/Block, Stucco
Parking Features None
Building
Story Two
Sewer Public Sewer
Water Public Water
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