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Key Details
Sold Price $956,000
Property Type Condo
Sub Type Condo
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 241110
Sold Date 05/31/24
Bedrooms 3
Full Baths 3
Condo Fees $555/mo
Annual Tax Amount $7,572
Tax Year 2023
Property Sub-Type Condo
Property Description
Presenting a rare investment opportunity in Ocean City, renowned as America's Greatest Family Resort! Nestled within the esteemed Impala Suites, this condominium hotel comprises three units that can be leased individually or merged, granting flexibility and maximizing rental prospects. Together, the three units encompass 3 bedrooms, 3 full baths, and a private deck in each, accommodating over 10 guests in total. This layout is ideally tailored for families or groups seeking generous and well-appointed accommodations. The building, constructed in 2021, is under the management of an on-site property management firm, ensuring a hassle-free experience for proprietors. The management company oversees all facets of property management, encompassing rental procurement, upkeep, and reservations, thus rendering this investment opportunity truly hands-off. The previous owner effortlessly garnered $50,000 in rental revenue last year, with projections for this season already exceeding $55,000. The Impala Suites boast full occupancy throughout the summer, underscoring their popularity and potential for substantial returns. Positioned directly at the beach and boardwalk, the units offer breathtaking ocean vistas and convenient access to the pool. Distinguished from other units in the building, these residences feature a well-illuminated entry, forgoing the inconvenience of dim hallways. Seize the chance to invest in this fully furnished opportunity at Impala Suites in Ocean City, where prime location, luxurious amenities, and robust rental income potential converge seamlessly.
Location
State NJ
County Ocean City
Area Ocean City
Location Details Beach Block,Corner,Water View
Interior
Hot Water Electric
Building
Lot Description Beach Block, Corner, Water View
Story One
Unit Location Corner,Other (See Remarks),Pool View,Water View
Sewer Public
Water Public
New Construction No
Others
Acceptable Financing Conventional
Listing Terms Conventional
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Bought with WEICHERT REALTORS - ASBURY GROUP