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Home For Sale

Picture of Home For Sale in Ocean City, New Jersey, United States

$939,900

506 E 9th St
Ocean City, New Jersey, United States

4bd

Listed By: Realtyww Info

Listed On: 06/09/2023

Listing ID: GL10187549 View More Details

Description

Much sought after Commercial building located in the center of town. Less than 3 blocks to the beach and Boardwalk. This property features 4 units total, 2 storefronts and 2 apartments above. Each apartment is 2BD and 1 BA. One storefront is rented at $1, 000 a month and one apartment is also rented out at $1100 a month. Both tenants are on a month-to-month lease. There are 4 separate gas meters and 5 electric meters (506 restaurant and the apartment upstairs) (508 retail shop and apartment upstairs) and the back storage room. There is only one Water main coming in from 508 retail shop to the back boiler room. 506 restaurant and 508 apartment have a newer water heater, 6 years old. There is no heat in the 2 storefront buildings. 506 restaurant has a newer AC mini split which was installed 3 years ago. The roof was recoated approx. 5 years ago. The outside of the building was repainted approx. 2.5 years ago. This is a great opportunity for someone looking to invest in this hot Ocean City market. This is being sold completely "AS IS", the buyer is responsible for any and all inspections and or certifications. This is also subject to the seller completing a 1031 exchange.

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Listed by: Balsley Losco
Source: The World Property Journal

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