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617 E 8th St, Ocean City, NJ 08226

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For Sale

$3,900,000

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • Basement
    Rooms

Explore this Property

This is the very BEST VALUE-ADD ON THE JERSEY SHORE ISLAND RESORT MARKET! Current Cash Flow Valuations are at a 9%+ CAP RATE which makes this fabulous buy an INVESTOR'S DREAM INCOME AQUISTION OPPORTUNITY & WITH TONS OF UPSIDE! The Blue Water Inn Hotel is a 40-Unit Mixed Use commercial investment property, with parking! This income producing gem is centrally located on a HIGH TRAFFIC CORNER of 8th & Ocean Ave in the very HEART OF THE HOTEL/ HOSPITALITY DISTRICT & situated on a whopping 135' x 93.05 lot just a couple blocks from Ocean City's white sand beaches and bustling World Famous Boardwalk. The property features a total of 40units which consists of: 32 hotel rooms (with 32 baths); 5 renovated apartments (3-1BR/1BA, 1-2BR/1BA, 1-3BR/1BA & 1-Manager's efficiency apartment w/1BA); and 3 leased commercial stores on the street level of the building. The three commercial storefronts currently include a full-service restaurant and two additional food & beverage service retail stores. In addition, the building includes an additional 1/2 bath in Guest Check-In Lobby; 3 courtesy dayrooms with showers; laundry facility; and a total of 28 parking spaces in the parking lot adjacent to & in back of the hotel. Property recently started to undergo upgrades & renovations inclusive of the apartments; new front porch; and windows are relatively new. For the experienced developer/investor, this incredible acquisition opportunity comes with tremendous upside potential associated with property stabilization and income growth tied to increased seasonal rents to become in line with market rates, plus expanding business to include Winter Rental which could quickly add an instant $100K to the bottom line. Income generating investment opportunities like this come around rarely in Ocean City. Pre-Qual & NDA required for financially qualified buyers only. Call Now!
MLS# 588239

Courtesy Of Keller Williams Realty Jersey Shore

(609) 399-5454

Property Features

  • Amenities
    Deck, Dock, Porch, Ceiling Fan
  • Appliances
    Dishwasher, Dryer, Microwave, Refrigerator, Washer
  • Cooling System
    Ceiling Fan(s), Window Unit(s) A/C
  • Rooms
    Basement, Living Room, Workshop

Map and Directions

Directions to 617 E 8th St, Ocean City, NJ 08226

Home seller CENTURY 21 Alliance

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Alliance

(609) 399-5711
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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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