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$ 179,900
Est. payment | /mo
1 Bath
$ 179,900
Est. payment | /mo
1 Bath
Key Details
Property Type Condo
Sub Type Condo
Listing Status Active
Purchase Type For Sale
MLS Listing ID 595112
Style Converted Motel
Full Baths 1
Annual Tax Amount $535
Tax Year 2024
Property Sub-Type Condo
Property Description
Your Beach Getaway Awaits—Prime Location & Proven Income! Welcome to 807 E 8th Street #409, your perfect slice of paradise in the heart of Ocean City! This charming, turnkey efficiency places you just steps away from Ocean City's pristine beaches and iconic boardwalk. Enjoy the ultimate convenience of being less than a block from sun-soaked shores and the vibrant shops, restaurants, and entertainment along bustling Asbury Avenue. Strong Rental History & Impressive Returns: This unit offers excellent income potential, having generated over $18,000 gross in 2024, with realistic projections to surpass $20,000 annually. Current bookings for 2025 already total approximately $5,800 as of March 31—typically just 25% of yearly reservations. Historically, the property experiences strong rental demand between April and June, accounting for approximately 41% of annual income, consistent occupancy during peak summer months (July–August, approximately 25%), and continued bookings through the quieter September–December season (approximately 9%). Annual operating expenses—including HOA fees, linens and rental service, cleaning, insurance, licensing, WiFi, Airbnb, and utilities—are approximately $9,500–$9,900. Enjoy the convenience of running a highly rated (4.9/5 star) Airbnb remotely by taking advantage of the hotel's own laundry/linens, toiletry, and front desk services (just $1,100/year, charged per rental with no obligation to use) and an on-site, highly reputable cleaning service for seamless turnover between guests (also no obligation to use). Alternatively, owners choosing private enjoyment without rentals can anticipate very manageable carrying costs of around $5,000 per year. Don't miss this opportunity to own a property that effortlessly blends leisure, lifestyle, and lucrative investment potential. Schedule your private showing today!
Location
State NJ
County Cape May
Community Ocean City
Area Ocean City/Central
Location Details Beach Block,Boardwalk Area,Water View
Interior
Heating Baseboard, Electric
Exterior
Exterior Feature Brick
Parking Features None
Building
Story Six to Ten
Sewer Public Sewer
Water Public Water
Others
Senior Community No
Listed by BERGER REALTY-Main
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