Recently Listed New Construction 840 Ocean Ave
Ocean City, NJ, 08226 $ 179,900
Bedrooms1 Baths1.0 Monthly Estimate*
$ 1,196
for $179,900 with 1 bedroom and 1 full bath.
Unit #14 @ The "Sifting Sands" Condo/Motel. 100% gutted, remodeled, improved & refurnished, all new interior.. New "All-in-One" Kitchen, micro, frig/freezer, paint, window blinds, 40" wall-mounted swivel TV, AC unit, New Kitchen & bath cabs. New Toilet. Sale inc. all-new pots, pans, kitchen supplies. Tiled thruout for maintenance-free ownership. 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. The Motel is in full operation - All showings will be in-between Guests. Note: Portfolio "Condo-Tel" financing currently available with 25-30% down. 2023 Income was $23,623.81 ($19,423.81 summer, $4,200 winter). After all expenses, nets about $8-$9,000 without a mortgage. Typically a 5-6% return.
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FeaturesExteriorExterior Concrete Masonry/Block Steel
Lot 17-C14
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GeneralWater Public Water
Sewer Public Sewer
Heating Baseboard Electric
Appliances Electric Stove Microwave Refrigerator
Status Active Active
Full Baths 1
Half Baths 0
Water Heater Gas
Style Converted Motel
Stories Two
Class CONDOMINIUM
Type Condo
Rooms 2
Condo Name Sifting Sands
Unit Number 14
Tax Year 2023
Pets Allowed Y/N No pets allowed
Garage One Car
Waterfront No
Common Area Features Cable TV Deck/Porch Laundromat On Site Outside Shower Pool
Association Fee Includes Amenities Cable Hot Water Insurance Maintenance Management Pool Sewer Trash Water
Area Ocean City/Central
Location Boardwalk Area Corner
Taxes 713
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InteriorBeds 1
Unit Levels Two
Air Conditioning Electric Wall Units
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* Excluded FeaturesList ByFox Real Estate-OceanBroker
Affordability Calculator
- Monthly Principal & Interest
- $1,196
- Monthly Property Taxes
- $59
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.99% 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. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyCondo listings in Ocean City, NJ
Average List Price $1,170,738
Percent of Sale Price 551%
About Ocean City, NJ 11,772 Population
-23% Since 2002
$ 66,936 Median Income
55.21 Median Age
19% Households with Children
Trends Information provided by ATTOM Data Solutions.
760537 Elementary School
760538 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
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5/18/2024 | $179,900 | | Listed Price |