Agent Takes: New OCNJ Property Listings for September 25, 2023

Listing #1 – 811 Pennlyn Pl Unit 2

Property Features: 2,400 Sqft lot, 4 bedroom, 3 bathroom

The Price: $1,299,900

Agent Hot Take 🔥: This place is pretty cool. A 4-bed, 3-bath, 2nd-floor unit in a nice location that’s close to the beach. It’s on a smaller lot at 30 x 80-feet, but it offers a 3rd-floor master suite which is nice and allows for more square footage on the floor below. I really don’t hate the price, but the interior could use a little bit of an upgrade. That said, it definitely isn’t necessary right off the bat. The rental potential here is definitely very good. This is a good listing.

Property Description: This beautiful north end 2nd/3rd floor condo offers 4 bedrooms and 3 full baths. Two of the bedrooms feature ensuite baths. Located close to the beach and the quiet north end of the boardwalk, you’ll love the Pennlyn Place neighborhood. The front and rear decks offer shady spots for relaxing, and the large garage provides plenty of space for storing your beach toys. The full cabana level bathroom is convenient for washing off the sand after a day at the beach. Then retire to your perfect master suite which encompasses the entire upper level and consists of the bedroom, bath and a large deck. This home is being offered partially furnished, minus personal items.

Listing #2 – 1004C Asbury Ave Unit 3

Property Features: 2,200 Sqft, 5 bedroom, 3 bathroom

The Price: $1,450,000

Agent Hot Take 🔥: A tricky one here. It’s a very, very nice 5-bedroom, 3-bathroom unit. The downfall here is something I try to avoid: This property may be beautiful, but it’s in a triplex and above a storefront. It’s not the worst thing, but $1.45M for 33% of the ground in ownership instead of 50% (like in a regular duplex) and above a commercial property located in the downtown area on Asbury Ave just doesn’t do it for me. The unit itself is beautiful, but if you’re ever looking to buy a place in a triplex or above a storefront, do your homework. Talk to an agent and really go through the pros and cons. I find the resale on these units harder than what you’d encounter with a regular duplex.

Property Description: Fantastic Downtown Location, Featuring 5 bedrooms, 3 Full Baths, Gas Fireplace, Hardwood Floors, Full Size Washer/Dryer, Stunning Bright Custom Kitchen with Quartz Countertops, and Stainless Steel Appliance Package! Enjoy the Airy Open Concept Living Space with Vaulted Ceilings Perfect for Entertaining the Whole Family, or Take Advantage of the Booming Rental Market in Ocean City with Summer Rental Potential! This Unit Also Includes a One Car Garage, 2 Offstreet Parking Spots and an Outside Shower. This is the Perfect Location to Pull In, Park the Car and Enjoy a Short Walk to All of the Amazing Local Shops, Restaurants, Beach and Boardwalk! This Home is Also the Best Spot on the Island to Enjoy the 4th of July Fireworks Show!!! No Monthly HOA Fee! Don’t Wait, Call Today!!!

Listing #3 – 137 Ocean Ave Unit 2

Property Features: 6 bedroom, 5 bathroom

The Price: $2,395,000

Agent Hot Take 🔥: Wow. A stunning property on an over-sized lot offering 2,500 square feet of living space and not a thing needs to be done. An asking price of $2.3M may come as a shock to some people for a second-floor condo, but I don’t think this one is too insane. We’ll have to wait and see what the market says. It’s gorgeous, the location is top of the line, and the property is massive. It’s not everyday a 6-bed, 5-bath condo that’s mere steps away from the beach comes on the market.

Property Description: This breathtaking masterpiece offers 6 Bedrooms and 5 bathrooms with an exceptional oversized floor plan with over 2, 500 sq feet of living space, gourmet kitchen, cathedral ceilings, beautiful rich hardwood floors, private elevator, two car garage, multiple large decks and much more. This one-of-a-kind property is being sold turnkey and fully furnished and offers an expansive rental history with over $170, 000 in rental history per year. 6 Bedrooms and 5 FULL bathrooms with an EXPANSIVE OPEN CONCEPT FLOOR PLAN DUE TO an oversized lot, FULLY FURNISHED… A 2022 rental history of $172, 000 and projected 2023 rental income of $180, 000, look no further for an investment property with an immediate return! This property generates a year-round cash flow from 50% upfront deposits on advance rentals during the summer season. Drawn by an open concept floor plan and 2, 558 ft of living space, renters are also attracted to the elevator access and private entry with large private foyer. As a turnkey investment, this property includes everything you need for a successful rental including a fully stocked kitchen, all outdoor and indoor furniture, blinds, comforters/pillows, beach chairs/umbrellas, boogie boards, aluminum beach cart, large Weber grill, and more. Call now for a showing of this property that will generate a strong return for you!

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