648-650 Asbury Avenue

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648-650 Asbury Avenue

Ocean City, NJ 08226
Asking Price
Contact for price
Asset Type
Apartment Building Multifamily
Class
Class B

AI Property Summary

Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).

  • The asset is a multifamily apartment building in Ocean City, New Jersey.
  • The property consists of two distinct residential units for sale.
  • Located at 648-650 Asbury Avenue within the 08226 zip code.
  • This building offers an investment opportunity in a coastal shore market.
  • The site sits in a prime location near local municipal amenities.

What's Special

648-650 Asbury Avenue is a multifamily apartment building situated in the coastal community of Ocean City, New Jersey. The property comprises two units, providing a residential investment option within this well-known shore destination. The local economy is driven by seasonal tourism and a consistent year-round population, supported by proximity to major regional transit routes and accessible infrastructure. This asset type remains a staple for investors seeking to maintain a foothold in the Cape May County market. Given the layout of the property, it is well-suited for long-term rental income or potential owner-occupant strategies. The location provides tenants with access to the boardwalk, beaches, and local commercial amenities, which are characteristic of the broader regional appeal of Ocean City.

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NOI
$80,000
Cap Rate
8.00%
DSCR
1.35
Strong
Cash-on-Cash
6.88%
Monthly Payment
$4,947.454
Annual Cash Flow
$20,630.547

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