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.
Property Features
Bedrooms
Bathrooms
- Total Bathrooms: 3 / 0
- Full Bathrooms: 3
Interior Features
- Deck/Porch
- Elevator
- Enclsd/Covered Porch
- Laundromat On Site
- Pool
- Interior Amenities: Eat In Kitchen
- Furnished Description: Blinds, Furnished, Shades
Appliances
- Dishwasher
- Disposal
- Electric Stove
- Intercom
- Refrigerator
Other Rooms
Heating and Cooling
- Cooling Features: Ceiling Fan(s), Central, Electric, Multi-Zoned
- Heating Features: Electric, Forced Air, Heat Pump, Multi-Zoned
- Water Heaters: Electric
Exterior and Lot Features
- Deck/Porch
- Elevator
- Enclsd/Covered Porch
- Laundromat On Site
- Pool
- Road Frontage Type: Street
Garage and Parking
- Garage Description: Attached Garage
- Parking Features: Assigned Parking, Off Site Parking
Homeowners Association
- Association: Yes
- Association Fee: 555
- Association Fee Includes: Amenities, Insurance, Maintenance, Management, Other Utilities, Pool, Trash
- Calculated Total Monthly Association Fees: 555
- Pets Allowed: Yes w/restrictions
Multi-Unit Info
- Unit Features: Elevator, Foyer, Handicap Features, Hardwood Floors, Master Bath
Amenities and Community Features
- Community Features: Deck/Porch, Elevator, Enclsd/Covered Porch, Laundromat On Site, Pool
Other Property Info
- Annual Tax Amount: 7572
- Source Listing Status: Active
- County: Cape May
- Directions: Turn right off of West Ave onto 10th St. Cross over Ocean Ave and the building is on the left.
- Tax Year: 2023
- Source Property Type: CONDOMINIUM
- Area: Ocean City/Central
- Property Subtype: condo
- Source Neighborhood: Ocean City/Central
- Property Location: Beach Block, Boardwalk Area, Corner, Water View
- Property Subtype: Condo
- Source System Name: C2C
Utilities
- Sewer: Public Sewer
- Water Source: Public Water
Building and Construction
- Building Exterior Type: Stucco
- Entry Location: Pool View, Water View
- Levels: One
- Levels or Stories: Three to Five
- Year Built Details: 2 to 5 Years
- Elevator: Yes