840 Ocean Unit 14
Ocean City, NJ 08226
- 1 bed
- 1 bath
- – sqft
Unit #14 @ The "Sifting Sands" Condo/Motel. 100% gutted, remodeled, improved & refurnished, all new interior.. New "All-in-One" Kitchen, micro, frig/freezer, paint, window blinds, 40" wall-mounted swivel TV, AC unit, New Kitchen & bath cabs. New Toilet. Sale inc. all-new pots, pans, kitchen supplies. Tiled thruout for maintenance-free ownership. 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. The Motel is in full operation - All showings will be in-between Guests. Note: Portfolio "Condo-Tel" financing currently available with 25-30% down. 2023 Income was $23,623.81 ($19,423.81 summer, $4,200 winter). After all expenses, nets about $8-$9,000 without a mortgage. Typically a 5-6% return.
Listing courtesy of SJSRMLS / Fox Real Estate-Ocean
Last checked:
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Last updated Jun 12, 2024
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MLS# 585326 —
The Building
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New Construction:yes
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Style:converted motel
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Siding/Exterior:concrete, masonry/block, steel
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Unit Location:first floor
Interior
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Included:blinds, furnished
Location
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Latitude:39.277552
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Longitude:-74.573525
The Property
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Location:corner, boardwalk area
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Block #:804
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Lot #:17-C14
Listing Agent
- Contact info:
- Agent phone:
- (609) 442-9840
- Office phone:
- (609) 399-5377
Heating & Cooling
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Heating:baseboard, electric
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Air Conditioning:electric, wall unit(s)
Utilities
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Water:public water
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Water Heater:gas
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Sewer:public sewer
Appliances
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Appliances:electric stove, microwave, refrigerator
The Community
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Adult Community/55+:No
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Common Area Features:cable TV , deck/porch, laundromat on site, outside shower, pool
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Pets:none allowed
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Pets Allowed:Two
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Association Fee Includes:amenities, insurance, maintenance, management, sewer, trash, water, Hot Water, Cable, Pool
Parking
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Parking Exterior:See Remarks
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Garage:One Car
Monthly cost estimate
Asking price
$179,900
Expense | Monthly cost |
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Mortgage
This calculator is intended for planning and education purposes only. It relies on assumptions and information provided by you regarding your goals, expectations and financial situation, and should not be used as your sole source of information. The output of the tool is not a loan offer or solicitation, nor is it financial or legal advice. |
$963
|
Taxes | $59 |
Insurance | $49 |
Utilities | N/A |
Total | $1,071/mo.* |
*This is an estimate |
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
5/18/24
May 18, 2024
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Listed / Active | SJSRMLS | $179,900 |