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724 Ocean Ave, Ocean City, NJ 08226

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For Sale

$5,000,000

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

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

  • Newly Listed
    Time on Century 21

  • Basement
    Rooms

Explore this Property

RARE ACQUISITION OPPORTUNITY - HEART OF OCEAN CITY S HOSPITALITY DISTRICT! Securing a hotel operation in Ocean City NJ is like winning a lottery ticket it rarely happens! First and due to super low hotel-room supply and incredibly high demand, there are only a handful of coveted hospitality assets available in Ocean City, which happens to continuously fuel investors upside. Second, it s only once every few decades that a turn-key hotel hits the market on this high disposable income beach island resort. This brand newly remodeled hotel is modernly appointed with today s fashion forward designs, high ceilings, wide hallways, generous common area spaces and a coveted wrap-around porch like no other! It boasts 29 fabulous hotel suites (including three 2-bedroom suites); a bonus income hotel section that includes 10additional rooms which can house up to 29 staff and/or island employees requiring seasonal accommodation; 25 parking spaces in an adjacent parking lot; and an in-ground swimming pool at the back of the hotel. Ideally situated just a short 1 ½ block from Ocean City s white soft sandy beaches and world-famous boardwalk, its superb walk-to-everything location makes it the perfect spot for vacationers. Property wascompletely renovated, yet intentionally retained some of its architectural exterior and interior details to preserve the old school Ocean City allureand still left room for a new owner to incorporate their own touches making this unique hospitality property a truly one-of-a kind gem. The hotel opened its doors in late Summer 2024, enjoyed an impressive opening start-up season (whose late seasonal start income generates approx.7% cap rate) with nothing but upside and opportunity tied to its ongoing and future operation. Winter Rentals could quickly add an instant $100Kto the bottom line. Income generating investment opportunities like this come around rarely in Ocean City. This is a perfect asset for any existing short-term rental investor or hotelier looking to scale up and add to their portfolio. Pre-Qual & NDA are required for financially qualified buyers only. For more property details, obtain an NDA to review financials and schedule a private showing, please call us directly now.
MLS# 596571

Courtesy Of eXp Realty - Ocean City, West

(609) 513-1126

Property Features

  • Amenities
    Porch, Ceiling Fan
  • Appliances
    Dryer, Microwave, Refrigerator
  • Cooling System
    Ceiling Fan(s)
  • Heating System
    Space Heater
  • Rooms
    Basement, Living Room, Workshop

Map and Directions

Directions to 724 Ocean Ave, Ocean City, NJ 08226

Home seller CENTURY 21 Atlantic Professional Realty

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 Atlantic Professional Realty

(609) 652-6000
Learn More About Us

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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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