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900 Wesley , #101

Ocean City, NJ 08226
  • $399,900
  • STATUS: Active
  • ON SITE: 231 Days
  • MLS #: 547986
UPDATED: 38 min ago
$399,900
  • 2
    BEDS
  • N/A
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Condo
County:

School Ratings & Info

Description

2021 has over $43,745 income w/22 weeks rented, plus a 21-22 winter rental. 2020 income $36,612.36, 2021 income $38,445.95 - BOTH NET AFTER COMMISSIONS! '21 Net after all expenses = $22,086.22. Prior years equally as impressive. Rents 100% solid every year. Completely gutted & remodeled. 2 blocks to center of boardwalk & 9th/10th St. beaches. Perfect center city location, EVERYTHING in walking distance! Largest unit in bldg. (@956 sq.ft.). 2BR, 2.BA Sleeps EIGHT (8). Granite countertops, wood cabs throughout. In-unit washer/dryer. BR's are on opposite sides of the apartment for extra privacy. Parking 1 car (City owned Lot, rented annually @$800/yr. off-site). Heated pool, BBQ area & spacious sun deck. Condo Fee Includes wi-fi, cable, hot water. 39 unit condo building has @ 15 owners that rent and the rest don't rent at all. Check Associated Docs for P&L. OWNER FINANCING AVAILABLE TO QUALIFIED BUYER. $100,000 Down, 4%, 30 year amortization, 5 year balloon. OR $100,000 down, 6%, 30 year amortization, 10 year balloon. This used to be the front rental office & mgr's apt @ the Sun Beach when Sun Beach was a motel. Even though Sun Beach no longer operates as a motel, this is still considered a commercial property. It requires a commercial mortgage, a cash buyer or take advantage of the Seller financing. The seller will also buy down any rate differences between a commercial loan and a residential loan. SHOWINGS OCT-APRIL REQUIRE 24 HRS. NOTICE (has co-operative winter tenant).

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© 2021 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 Gary Simmens | Keller Williams Atlantic Shore Real Estate. 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 2021-10-24T07:49:49.733.
www.garysimmens.com/homes/114837182
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900 Wesley , #101 Ocean City, NJ 08226

  • Price: $399,900
  • Status: Active
  • Updated: 38 min ago
  • MLS #: 547986
2
Beds
2
Baths
0
½ Baths
N/A
Acres
Neighborhood:
Sun Beach
County:
Cape May
Area:
Ocean City/Central
Property Description
2021 has over $43,745 income w/22 weeks rented, plus a 21-22 winter rental. 2020 income $36,612.36, 2021 income $38,445.95 - BOTH NET AFTER COMMISSIONS! '21 Net after all expenses = $22,086.22. Prior years equally as impressive. Rents 100% solid every year. Completely gutted & remodeled. 2 blocks to center of boardwalk & 9th/10th St. beaches. Perfect center city location, EVERYTHING in walking distance! Largest unit in bldg. (@956 sq.ft.). 2BR, 2.BA Sleeps EIGHT (8). Granite countertops, wood cabs throughout. In-unit washer/dryer. BR's are on opposite sides of the apartment for extra privacy. Parking 1 car (City owned Lot, rented annually @$800/yr. off-site). Heated pool, BBQ area & spacious sun deck. Condo Fee Includes wi-fi, cable, hot water. 39 unit condo building has @ 15 owners that rent and the rest don't rent at all. Check Associated Docs for P&L. OWNER FINANCING AVAILABLE TO QUALIFIED BUYER. $100,000 Down, 4%, 30 year amortization, 5 year balloon. OR $100,000 down, 6%, 30 year amortization, 10 year balloon. This used to be the front rental office & mgr's apt @ the Sun Beach when Sun Beach was a motel. Even though Sun Beach no longer operates as a motel, this is still considered a commercial property. It requires a commercial mortgage, a cash buyer or take advantage of the Seller financing. The seller will also buy down any rate differences between a commercial loan and a residential loan. SHOWINGS OCT-APRIL REQUIRE 24 HRS. NOTICE (has co-operative winter tenant).
Exterior Features

Garage None Location Corner Parking Off Site Parking Siding Exterior ConcreteMasonry/BlockStucco Stories In Building Two Unit Location End UnitFirst FloorPool View

Interior Features

Air Conditioning Ceiling Fan(S)ElectricWall Units Also Includes BlindsFurnished Appliances DishwasherDisposalDryerElectric StoveMicrowaveRefrigeratorSelf Cleaning OvenWasher Heating ElectricSpace/Wall/Floor Levels In Unit One Other Rooms Breakfast NookLaundry/Utility RoomMaster Br On 1st Floor Rooms 7 Unit Features FoyerMaster Bath

Property Features

Age Range 6 To 10 Years Approved Short Sale N/A Assoc Fee Includes AmenitiesInsuranceMaintenanceManagementSewerTrashWaterOther UtilitiesCablePool Auction YN No Bank Owned Foreclosure No Common Area Features Cable TvDeck/PorchOutside ShowerPatioPoolStorage Facility Condo Type Condo Management Association May Be Subject To Third Party Approval Short Sale No New Construction No Pets No Pets Allowed Possession Subject To Tenancy Sale Or Rent For Sale Sewer Public Sewer Tax Year 2020 Taxes 2435 Water Public Water

Listing information © 2021 South Jersey Shore Regional MLS.
Listing provided courtesy of Fox Real Estate-Ocean.


© 2021 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 Gary Simmens | Keller Williams Atlantic Shore Real Estate. 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 2021-10-24T07:49:49.733.
 
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