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"Beach Block Triplex with Ocean Views!"
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Address:
902 Second Street, Ocean City NJ
Type: Multifamily
Style: Ocean view front porches!
Bedrooms: 8 "3-1st fl, 3-2nd fl, 2-3rd"
Bathrooms: 3 "One per unit"
Basement: Yes, Crawl
Lot Type: Rectangular
Lot Size:
30ft x 80ft
Taxes: $6,811.00 (2009)
MLS®: 334526
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Ocean views, old world charm, solid summer rentals, ocean view covered porches and rear sun decks too! This beach block triplex offers multiple options for the discerning buyer. Nicely maintained and improved, with 3BR/1BA on 1st & 2nd floor and a darling 2BR/1BA top floor hideaway that would make a perfect owner unit! This property has generated up to $60,000 in summer rentals per year; 2009 rentals under $40,000 due to weather and other factors. Make further improvements, convert to condos or a single family, or redevelop later and build a new duplex...or just sit on the porch and listen to the sound of the surf. Local bank has Investor loans at 80%LTV for triplex property. Property condition disclosureavailable; expenses and rental hx available; subject to summer seasonal tenancy; available for immediate showings until tenancy begins; after that pointrequires advance notice. 2008 rand 2009 rentals were down, with about $40K collected. Low early season bookings were to blame.
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