Dont miss this fully furnished studio in the Hanscom, just steps from the beach! Rented year-round, it generated nearly $36, 000 in gross income in 2024 and over $25, 000 in 2025, making it one of the buildings most profitable rentals. The studio is a well-known rental in the building, with a dedicated website that drives strong traffic and generates consistent inquiries and bookings - a benefit a new owner could immediately take advantage of. Inside, it features original flooring, a new AC, full bathroom, kitchenette, dining area, and storage closet, creating a low-maintenance beachside retreat. The building offers a lobby, sitting area, elevator access, on-site laundry, and private storage for each unit. A low HOA fee covers utilities, building amenities and maintenance, insurance, and WiFi, with electric as the only separate expense. This is a cash-only purchase, as financing is not available. Conveniently located within walking distance of Sundaes Ice Cream Shop, bike rentals, the OC Waterpark, shops, dining, and the boardwalk, this studio is ready to provide dependable rental income or serve as your own vacation getaway.
Property Features
Bedrooms
Bathrooms
- Total Bathrooms: 1 / 0
- Full Bathrooms: 1
Interior Features
- Elevator
- Laundromat On Site
- Outside Shower
- Storage Facility
- Interior Amenities: Dining Area
Appliances
- Electric Stove
- Microwave
- Refrigerator
Other Rooms
Heating and Cooling
- Cooling Features: Ceiling Fan(s), Window Units
- Heating Features: Baseboard, Electric
Exterior and Lot Features
- Elevator
- Laundromat On Site
- Outside Shower
- Storage Facility
- Road Frontage Type: Street
Homeowners Association
- Association: Yes
- Association Fee: 400
- Association Fee Includes: Amenities, Cable, Insurance, Maintenance, Sewer, Trash, Water
- Calculated Total Monthly Association Fees: 400
- Pets Allowed: No pets allowed
Amenities and Community Features
- Community Features: Elevator, Laundromat On Site, Outside Shower, Storage Facility
Other Property Info
- Annual Tax Amount: 675
- Source Listing Status: Active
- County: Cape May
- Directions: 807 E 8th St, #402
- Tax Year: 2024
- Source Property Type: CONDOMINIUM
- Area: Ocean City/Central
- Property Subtype: condo
- Source Neighborhood: Ocean City/Central
- Property Location: Beach Block, Boardwalk Area
- Property Subtype: Condo
- Source System Name: C2C
Utilities
- Sewer: Public Sewer
- Water Source: Public Water
Building and Construction
- Building Name: Homestead
- Levels: One
- Levels or Stories: Six to Ten
- Elevator: Yes