840 Ocean Ave #8
Ocean City, NJ 08226

Unit #8 @ The "Sifting Sands" Condo/Motel. Sale includes all furnishings, 2-TVs and kitchen supplies. Sifting Sands has been one of Ocean City's last-operating "Iconic" Center-City Motels, in operation every summer since 1964. The complex was remodeled and converted to condo/motel ownership in '04. Spectacular location on the corner of 9th & Ocean Ave. On-site required rental program (April 15-Oct 30) guarantees "hands off & hassle free" income. Convenient 1st floor location. Building open year 'round. Block off some personal usage between rentals in the summer for your own usage (14 days max). Off-season usage non-restricted (Nov 1 - April 15) - use at your pleasure...use it, rent it yourself, rent it through a Realtor, whatever you'd like. Well run, stable, well funded professionally managed building. Coin-Op Laundry Room. Condo fee includes water/sewer, hot water, TV cable, Wi-Fi, use of heated pool, parking for one car (w/minimal annual fee), bldg. insurance (fire & flood), exterior maintenance. Owner pays own electric bill ($100/mo +/-), property taxes & interior contents/liability insurance ($500/yr +/-). VERY FEW PROPERTIES IN OCEAN CITY CAN COMPETE WITH THIS. Call Listing Agent for details & questions on personal usage & the Rental Program. Available "Condo-Tel" financing currently offered with 25% down. After all expenses, these units typically net about $7-8,000 without a mortgage, including a winter rental. Actual 2023 Rental Program Income = $17,074.32 gross, minus $8,019.29 program expenses = $9,055.03 net income. With winter rental add another $3,600.