Julietta Morris
Keller Williams Realty Jersey Shore - Ocean City
(609) 849-3846
123 Total Sales
2 in Ocean City
$746K - $815K Price Range
617 E 8th St Ocean City, NJ 08226
Ocean City AreaEstimated Value: $3,907,804
Studio
--
Bath
--
Sq Ft
0.29
Acre Lot
Highlights
- Corner Lot
- Workshop
- Porch
- Furnished
- Shades
- Living Room
About This Home
As of April 2026This is the very BEST VALUE-ADD ON THE JERSEY SHORE ISLAND RESORT MARKET! Current Cash Flow Valuations are at a 9%+ CAPRATE which makes this fabulous buy an INVESTOR'S DREAM INCOME AQUISTION OPPORTUNITY & WITH TONS OF UPSIDE! The Blue Water Inn Hotel is a 40-Unit Mixed Use commercial investment property, with parking! This income producing gem is centrally located on a HIGH TRAFFIC CORNER of 8th & Ocean Ave in the the historic district in the very HEART OF THE HOTEL/ HOSPITALITY DISTRICT & situated on a whopping 135' x93.05 lot just a couple blocks from Ocean City's white sand beaches and bustling World Famous Boardwalk. The property features a total of40units which consists of: 32 hotel rooms (with 32 baths); 5 renovated apartments (3-1BR/1BA, 1-2BR/1BA, 1-3BR/1BA & 1-Manager'sefficiency apartment w/1BA); and 3 leased commercial stores on the street level of the building. The three commercial storefronts currently include a full-service restaurant and two additional food & beverage service retail stores. In addition, the building includes an additional 1/2 bath in Guest Check-In Lobby; 3 courtesy dayrooms with showers; laundry facility; and a total of 28 parking spaces in the parking lot adjacent to & in back of the hotel. Property recently started to undergo upgrades & renovations inclusive of the apartments; new front porch; and windows are relatively new. For the experienced developer/investor, this incredible acquisition opportunity comes with tremendous upside potential associated with property stabilization and income growth tied to increased seasonal rents to become in line with market rates, plus expanding business to include Winter Rental which could quickly add an instant $100K to the bottom line. Income generating investment opportunities like this come around rarely in Ocean City. Pre-Qual or Proof of Funds & NDA are required for financially qualified buyers only, and Buyers must complete and satisfy all their own due diligence. For more property details, obtain an NDA to review financials and schedule a private showing, please call us directly now.
Last Agent to Sell the Property
eXp Realty - Ocean City O382L Listed on: 10/10/2024
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Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $12,348
Lot Details
- Lot Dimensions are 135x93
- Corner Lot
Parking
- 3 Parking Spaces
Home Design
- Vinyl Siding
Interior Spaces
- Furnished
- Ceiling Fan
- Shades
- Drapes & Rods
- Blinds
- Living Room
- Workshop
- Crawl Space
- Storm Screens
- Microwave
Laundry
- Laundry Room
- Dryer
- Washer
Outdoor Features
- Porch
Utilities
- Window Unit Cooling System
- Gas Water Heater
Listing and Financial Details
- Legal Lot and Block 17 / 705
Community Details
Overview
- 40 Units
Recreation
- Community Boardwalk
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Oct 10, 2024
Closed on
Mar 18, 2026
Sold by
Bought by
Seller's Agent
Kristina Doliszny
eXp Realty - Ocean City O382L
Buyer's Agent
Kristina Doliszny
eXp Realty - Ocean City O382L
List Price
$3,900,000
Sold Price
$3,900,000
Views
67
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$7,804
Avg. Annual Appreciation
0.63%
Original Mortgage
$3,120,000
Outstanding Balance
$3,106,426
Interest Rate
6%
Mortgage Type
Small Business Administration
Estimated Equity
$801,378
Purchase Details
Closed on
Nov 14, 2022
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$4,680,000
Interest Rate
7.08%
Mortgage Type
New Conventional
Purchase Details
Closed on
May 12, 2022
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,393,000
Interest Rate
4.72%
Mortgage Type
Credit Line Revolving
Purchase Details
Closed on
Jan 6, 2006
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,400,000
Interest Rate
6.28%
Mortgage Type
Commercial
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Ocean City, NJ
-
Julietta Morris
-
Fredric Spackman
Fredric Spackman
Cape May County Real Estate Brokers, LLC
(609) 913-3008
48 Total Sales
3 in Ocean City
$880K - $1.6M Price Range
-
Jack Yerkes
Jack Yerkes
Century 21 Rauh & Johns
(856) 263-5989
121 Total Sales
1 in Ocean City
$300,000 Price
-
Maria Doyle
Maria Doyle
Compass RE
(484) 592-6091
141 Total Sales
2 in Ocean City
$1M - $1.1M Price Range
-
Jill Leap
Jill Leap
Balsley-Losco Realtors
(609) 798-7218
89 Total Sales
2 in Ocean City
$600,000 Price Range
-
Ethel Hermenau
Ethel Hermenau
KELLER WILLIAMS REALTY ATLANTIC SHORE-BRIGANTINE
(609) 739-9972
80 Total Sales
2 in Ocean City
$375K - $540K Price Range
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $3,900,000 | Surety Title | ||
| $3,250,000 | None Listed On Document | ||
| $1,575,000 | Surety Title | ||
| $1,400,000 | None Available |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $650,000 | ||
| Open | $3,120,000 | ||
| Closed | $4,680,000 | ||
| Previous Owner | $1,393,000 | ||
| Previous Owner | $1,400,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 04/08/2026 04/08/26 | Sold | $3,900,000 | 0.0% | -- |
| 08/11/2025 08/11/25 | Pending | -- | -- | -- |
| 10/10/2024 10/10/24 | For Sale | $3,900,000 | -- | -- |
Source: South Jersey Shore Regional MLS
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2026 | $13,464 | $1,200,000 | $701,800 | $498,200 |
| 2025 | $13,464 | $1,200,000 | $701,800 | $498,200 |
| 2024 | $13,464 | $1,200,000 | $701,800 | $498,200 |
| 2023 | $12,852 | $1,200,000 | $701,800 | $498,200 |
| 2022 | $12,348 | $1,200,000 | $701,800 | $498,200 |
| 2021 | $12,060 | $1,200,000 | $701,800 | $498,200 |
| 2020 | $11,736 | $1,200,000 | $701,800 | $498,200 |
| 2019 | $11,604 | $1,200,000 | $701,800 | $498,200 |
| 2018 | $11,496 | $1,200,000 | $701,800 | $498,200 |
| 2017 | $11,316 | $1,200,000 | $701,800 | $498,200 |
| 2016 | $10,884 | $1,200,000 | $701,800 | $498,200 |
| 2015 | $10,740 | $1,200,000 | $701,800 | $498,200 |
| 2014 | $10,584 | $1,200,000 | $701,800 | $498,200 |
Source: Public Records
Agents Affiliated with this Home
-
Kristina Doliszny
Seller's Agent in 2026
Kristina Doliszny
eXp Realty - Ocean City O382L
(609) 412-5547
69 Total Sales
Map
Source: South Jersey Shore Regional MLS
MLS Number: 590176
APN: 08-00705-0000-00017
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
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