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Pending
  • $3,900,000

    617 E 8th St, Ocean City, NJ 08226

    --beds
    --baths
    --sqft
    : 
    Multi Family
    Built in ----
    -- sqft lot
    $-- Zestimate®
    $--/sqft
    $-- HOA

    What's special

    White sand beachesBustling world famous boardwalkHigh traffic cornerParking lotLeased commercial storesUpgrades and renovationsRenovated apartments
    This is the very BEST VALUE-ADD ON THE JERSEY SHORE ISLAND RESORT MARKET! Current Cash Flow Valuations are at a 9%+ CAPRATE 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' x93.05 lot just a couple blocks from Ocean City's white sand beaches and bustling World Famous Boardwalk. The property features a total of40units which consists of: 32 hotel rooms (with 32 baths); 5 renovated apartments (3-1BR/1BA, 1-2BR/1BA, 1-3BR/1BA & 1-Manager'sefficiency 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!
    306 days
    on Zillow
    |
    172
    |
    11
    |

    Zillow last checked: 7 hours ago

    Listing updated: August 12, 2025 at 02:45pm

    Listed by:

    KRISTINA DOLISZNY,

    eXp Realty - Ocean City O382L,

    ROBERT DOLISZNY,

    eXp Realty - Ocean City O382L

    Source: SJSRMLS,MLS#: 590176MLS Logo
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    Facts & features

    Interior

    Rooms
    • Room types: Laundry, Living Room, Workshop
    Heating
    • None
    Cooling
    • Ceiling Fan(s), Window Unit(s)
    Appliances
    • Included: Dryer, Microwave, Refrigerator, Washer
    Features
    • Windows: Blinds, Curtains, Drapes, Shades, Screens
    • Basement: Crawl Space
    • Has fireplace: No
    • Furnished: Yes

    Property

    Parking
    • Total spaces: 3
    • Parking features: None
    Features
    • Patio & porch: Porch
    • Has view: Yes
    • View description: See Remarks
    • Waterfront features: Boardwalk Area
    Lot
    • Size: 0.29 Acres
    • Dimensions: 135 x 93
    • Features: Corner Lot
    Details
    • Parcel number: 17

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Multi Family
    Materials
    • Vinyl
    Condition
    • New construction: No

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public

    Community & HOA

    Location
    • Region: Ocean City

    Financial & listing details

    • Annual tax amount: $12,348
    • Date on market: 10/10/2024
    • Date available: 10/10/2024
    • Inclusions: Blinds, Curtains, Drapes, Furnished, Rugs, Shades
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