1020 Asbury Ave
Property Description
PRIME DOWNTOWN OCEAN CITY INVESTMENT OPPORTUNITY! Located in the heart of Ocean City at 10th Street and Asbury Avenue, this versatile three-story mixed-use property offers endless possibilities for investors, business owners, and owner-occupants alike! The first floor features commercial space in a highly desirable downtown location, ideal for establishing your business or generating rental income. Above, you'll find two beautifully remodeled residential units. The spacious second-floor unit offers 4 bedrooms and 1 full bath, while the third-floor unit features 3 bedrooms and 1 full bath. Both residential units have been tastefully updated, providing attractive options for year-round living, seasonal use, or rental income. ALL THREE UNITS WILL BE DELIVERED VACANT AT SETTLEMENT giving the new owner complete flexibility to occupy, lease, or establish their own rental rates from day one! Live in one unit while generating income from the others, operate your business downstairs, or maximize the property's investment potential. Just steps from Ocean City's popular shops, restaurants, and downtown attractions- and a short walk to prime Boardwalk attractions and beautiful beaches- this is a rare opportunity to own a mixed-use property in one of the shore's most sought-after communities. Each unit has one private parking spot. Residential units will be delivered fully furnished. Both Residential units have private in unit laundry. Each residential unit rents for $60 ,000 in summer rental income plus commercial store lease- projected annual /summer income of 160,000 LOCATION, FLEXIBILITY & INCOME POTENTIAL THE POSSIBILITIES ARE ENDLESS!
Broker Details
Berkshire Hathaway HomeServices Fox & Roach, Realtors 609-399-0041
MLS ID: 403658 State License Number: 1538279
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,599,000 |
| Year Built: | 1924 |
| Lot Size: | 3,382.00 Sq ft |
| Opportunity Zone: | No |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-FOXROACH-613258
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