916 Wesley Ave

Ocean City, NJ 08226

$1,600,000
Last Sold Price
Beds
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

This year-round Rooming-House Operation is the most incredible CASH STREAM investment property on market boasting consistent CASH ON CASH returns for its owners. The “Wave Beach House” is located in heart of OCNJ, just 2 blocks to pristine Beaches & Boardwalk. It's perfect for any savvy investor looking to buy a rare income generating ROI property w/upside! Property consists of TWO income-producing buildings w/33 units (mostly rooms & some apts) on huge 50x120 by rights Tri-Plex development lot in...This year-round Rooming-House Operation is the most incredible CASH STREAM investment property on market boasting consistent CASH ON CASH returns for its owners. The “Wave Beach House” is located in heart of OCNJ, just 2 blocks to pristine Beaches & Boardwalk. It's perfect for any savvy investor looking to buy a rare income generating ROI property w/upside! Property consists of TWO income-producing buildings w/33 units (mostly rooms & some apts) on huge 50x120 by rights Tri-Plex development lot in heart of hospitality zone. Property includes: Large 4-story main Rooming House building consisting of: one 2-bed/1-bath apt; 6 efficiency units; 11 rooms w/private baths; 12 rooms that share 2 baths; coin-operated laundry; HUGE under-utilized attic; & impressive furnace room w/new high-efficiency unit; & Small Apartment-Cottage Building in rear consisting of one 2-bed apartment, one 1-bedroom & 1 efficiency unit. Accommodations for local contractors, church volunteers & yr-round resort employees are very difficult to find & yet in high demand, which keeps building fully occupied. Cash contract offers only. Being sold AS IS w/no contingencies. Financials w/rent roll & property site visit available to serious qualified buyers w/receipt of a signed NDA & POF. Call Now!
  1. Listed by KRISTINA DOLISZNY • Keller Williams Realty Jersey Shore-Ocean City
  2. Listed by ROBERT DOLISZNY • Keller Williams Realty Jersey Shore-Ocean City

Property Details for 916 Wesley Avenue

City/Community
Ocean City
Class
MULTI-FAMILY
Parking - Exterior
Two Car
Waterfront (Y/N)
No
LISTING UPDATED: 10/10/2024 04:24 PM

Property Details for 916 Wesley Avenue

StatusSold
MLS #548175
Days on Market375
Taxes$7,686 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMULTI-FAMILY / 21 - 50 Units
Year Built-
Lot Size0.14 AC / 6,000 SF
CountyCape May County

Location

Listing Courtesy of Keller Williams Realty Jersey Shore-Ocean City

Sold By BHHS FOX and ROACH-109 34th OC

Add your commute

Building Information for 916 Wesley Avenue

Stories-Residences33Year Built-Building Size-Lot Size0.14 AC / 6,000 SF

Payment Calculator

$9,024 per month

30 year fixed, 6.845% Interest

Principal and Interest

$8,383

Property Taxes

$641

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 916 Wesley Avenue

Summary
Location and General Information
  • Address: 916 Wesley Ave
  • Address 2: ROOMING HOUSE- HIGH CASH FLOW INV PROP
  • Address Number: 916
  • Address Search Number: 916
  • Address Street: Wesley Ave
  • Area: Ocean City/Central
  • County: Cape May
  • Directions: 9th St Bridge, right on Wesley Ave (going south), property on right
  • Fips Code: 34009
  • Location: See Remarks, Boardwalk Area
  • State: NJ
  • Zip: 08226
Parking
  • Garage: None
Taxes and HOA Information
  • LVT Date: 03-11-2021
  • Tax Year: 2020
  • Taxes: 7686
Property
Lot Information
  • Approved Short Sale?: N/A
  • Block #: 903
  • Lot #: 16
  • Lot Dimensions: 50 x 120
Property and Assessments
  • Age: 25+ Years
  • Also Includes: Blinds, Furnished
  • Associated Document Count: 0
  • New Construction: No
  • Property Id: 08-00903-0000-00016
  • Total Assessment: 0
  • Water: Public
Utilities
  • Sewer: Public Sewer
  • Water Heater: Gas
Interior and Exterior Features
Exterior Features
  • Driveway: Gravel
  • Outside Features: Curbs, Sidewalks
  • Siding/Exterior: Asbestos, Brick, Wood
  • Storms/Screens: Partial, Screens
Interior Features
  • Air Conditioning: Ceiling Fan(s), Window Units
  • Appliances: Dishwasher, Dryer, Gas Stove, Microwave, Refrigerator, Self Cleaning Oven, Washer
  • Basement: Crawl Space
  • Heating: Baseboard, Hot Water, Radiator
  • Other Rooms: Laundry/Utility Rm, Storage Attic
Multi Family
Multi-Family Information
  • # of 1 Bedroom Units: 1
  • # of 2 Bedroom Units: 2
  • # Of Efficiency Units: 7
  • Annual Taxes: 7686
  • Available: Inventory, Lease Information, State Housing Cert., Survey, Utility Information
  • Limited Service (Y/N): No
  • Number Of Units: 33
  • Owner Occupied (Y/N): No
  • Rent Control (Y/N): No
  • Rental Information: 100 Percent Occupancy, Monthly, See Remarks, Weekly
  • Separate Meters: Electric, Gas
  • Suitable For: Multi Family + Rooms, Rooming House

Property History for 916 Wesley Avenue

DateEvent & SourcePriceAppreciation
Jun 29, 2021

Closed

SJSRMLS #548175

$1,600,000
Jun 28, 2021

Closed (Public Record)

Public Record #1467094573

$1,600,000

+45.4% / yr

Mar 20, 2021

Pending

SJSRMLS #548175

Mar 10, 2021

Expired

SJSRMLS #539892

$2,000,000
Jul 29, 2020

Listed (Active)

SJSRMLS #539892

$2,000,000
Jul 29, 2020

Expired

SJSRMLS #534998

$1,500,000
Mar 10, 2020

Listed (Active)

SJSRMLS #548175

$2,000,000
Mar 7, 2020

Listed (Active)

SJSRMLS #534998

$1,500,000
Jan 24, 2020

Expired

SJSRMLS #528254

$1,500,000
Sep 20, 2019

Listed (Active)

SJSRMLS #528254

$1,500,000
Aug 28, 2019

Closed

SJSRMLS #524482

$800,000
Aug 22, 2019

Closed (Public Record)

Public Record #652709839

$800,000
Jul 23, 2019

Pending

SJSRMLS #524482

Jul 1, 2019

Listed (Active)

SJSRMLS #524482

$879,000
May 17, 2000

Closed

SJSRMLS #168265

$420,000
May 3, 2000

Pending

SJSRMLS #168265

Sep 14, 1998

Listed (Active)

SJSRMLS #168265

$429,000
DateEvent & SourcePrice
06/29/2021

Closed

SJSRMLS #548175

$1,600,000
06/28/2021

Closed (Public Record)

Public Record #1467094573

$1,600,000

+45.4% / yr

03/20/2021

Pending

SJSRMLS #548175

03/10/2021

Expired

SJSRMLS #539892

$2,000,000
07/29/2020

Listed (Active)

SJSRMLS #539892

$2,000,000
07/29/2020

Expired

SJSRMLS #534998

$1,500,000
03/10/2020

Listed (Active)

SJSRMLS #548175

$2,000,000
03/07/2020

Listed (Active)

SJSRMLS #534998

$1,500,000
01/24/2020

Expired

SJSRMLS #528254

$1,500,000
09/20/2019

Listed (Active)

SJSRMLS #528254

$1,500,000
08/28/2019

Closed

SJSRMLS #524482

$800,000
08/22/2019

Closed (Public Record)

Public Record #652709839

$800,000
07/23/2019

Pending

SJSRMLS #524482

07/01/2019

Listed (Active)

SJSRMLS #524482

$879,000
05/17/2000

Closed

SJSRMLS #168265

$420,000
05/03/2000

Pending

SJSRMLS #168265

09/14/1998

Listed (Active)

SJSRMLS #168265

$429,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 916 Wesley Avenue

Taxable ValueLand$673,400Additions$112,500Total$785,900
Tax Record2023$8,417 ($701 / month)
Home Facts
Total Finished SqFt11,117 SqFtAbove Grade Finished SqFt11,117 SqFtStories5Lot Size5,998 SqFtStyleMiscellaneous CommercialYear Built1910ZoningHMM1CountyCAPE MAYAPN08 00903-0000-00016

Schools near 916 Wesley Avenue

This home is within Ocean City School District.
Rating
School
Type
Grades
Distance
Public - PK to 3
Public - 4 to 8
Public - 9 to 12
Private - K to 8
Rating
School
Distance
Ocean City Primary School
PublicPK to 3

Ocean City Intermediate School
Public4 to 8

Ocean City High School
Public9 to 12

St. Augustine Regional School
PrivateK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Realty Jersey Shore-Ocean City

Based on information from one of the following Multiple Listing Services: BRIGHT, Greater LeHigh Valley Regional MLS, Greator Scranton Board of REALTORS® and Pocono Mountains Association of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greater LeHigh Valley Regional MLS, Greator Scranton Board of REALTORS® and Pocono Mountains Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.