NOT LISTED FOR SALE

870 E 7th St Unit 308 Ocean City, NJ 08226

Ocean City Area

Estimated Value: $331,217 - $359,000

1 Bed
1 Bath
-- Sq Ft
0.76 Acre Lot

Sale Details

Date Sold: April 21, 2022

Last sale price $250,000

Est. 37% increase in value since last sale

Current estimated payment $2,023 / mo

1 Day on Market

Highlights

  • Deck
  • Furnished
  • Community Pool
  • Ocean City Primary School Rated A
  • Great Room
  • Elevator

About This Home

As of April 2022

This Ocean 7 one bedroom suite has been totally renovated including new Luxury vinyl plank flooring, new kitchen including granite countertops, ceramic tile back-splash and glass stove top. Decorated to the nines with beautiful furnishings and beach decor all included. Ocean 7 was magically transformed from a Grand Old Hotel into separately owned condominiums a few years ago. She offers all the conveniences of Hotel Living, daily check-ins via the front desk, daily maid & linens service, on site management for care free ownership and a heated resort style pool with sundeck. Includes parking and storage facilities. Condo fees include water, sewer, hot water, flood & hazard insurance, common area maintenance, cable TV, Wi-Fi, & ELECTRIC! Located just a stone's throw to the famous Ocean City beach & boardwalk. This pristine condo boasts one of the island's best rental addresses...if high investment income is what you are after, look no further the 2021 gross rental income exceeded $32K! Ocean 7 is a seasonal building open from late April to mid October.

Last Agent to Sell the Property

Robert Gullo

Fox Real Estate-Ocean Listed on: 02/26/2022

Last Buyer's Agent

Robert Gullo

Fox Real Estate-Ocean Listed on: 02/26/2022

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Property Details

Home Type

  • Condominium

Lot Details

  • 0.76

Parking

  • 1 Parking Space

Interior Spaces

  • 3-Story Property
  • Furnished
  • Blinds
  • Great Room
  • Dining Area

Kitchen

  • Stove
  • Microwave

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Full Bathroom

Outdoor Features

  • Deck

Utilities

  • Cooling System Mounted In Outer Wall Opening
  • Heating Available
  • Gas Water Heater
  • Cable TV Available

Community Details

Overview

  • Association fees include amenities, electric, insurance, maintenance, management, sewer, trash, water, hot water, heat, cable, pool
  • Ocean 7 Condos

Amenities

  • Laundry Facilities
  • Elevator
  • Community Storage Space

Recreation

  • Community Boardwalk
  • Outdoor Community Showers
  • Community Pool

Pet Policy

  • No Pets Allowed

Property Details

Home Type

Condominium

Lot Details

0.76 Acres

Listing Details

  • Class: Condominium
  • Type: Condo
  • Also Includes: Blinds, Furnished
  • Number Of Levels In Unit: One
  • Number Of Stories In Bldg: Three To Five
  • Special Features: None
  • Property Sub Type: Condos
  • Stories: 2

Interior Features

  • Appliances: Electric Stove, Microwave, Refrigerator
  • Bedrooms: 1
  • Full Bathrooms: 1
  • Other Rooms: Dining Area, Great Room
  • Common Area Features: Cable Tv, Deck/Porch, Elevator, Laundromat On Site, Outside Shower, Pool, Storage Facility

Garage/Parking

  • Parking Exterior: One Car

Utilities

  • Air Conditioner: Wall Units
  • Heating: Electric
  • Sewer: Public Sewer
  • Water: Public Water
  • Water Heater: Gas

Condo/Co-op/Association

  • HOA Includes: Amenities, Electric, Insurance, Maintenance, Management, Sewer, Trash, Water, Hot Water, Heat, Cable, Pool
  • Condo Name: Ocean 7
  • Management: On-Site Professionals

Lot Info

  • Location: Boardwalk Area

Rental Info

  • Pets: No Pets Allowed

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
Feb 26, 2022
Closed on
Apr 21, 2022
Sold by
Bought by
Seller's Agent
Robert Gullo
Fox Real Estate-Ocean
Buyer's Agent
Robert Gullo
Fox Real Estate-Ocean
List Price
$250,900
Sold Price
$250,000
Premium/Discount to List
-$900
-0.36%
Current Estimated Value
$342,804

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$92,804
Avg. Annual Appreciation
7.65%

Purchase Details

Closed on
Jan 14, 2018
Sold by
Bought by

Purchase Details

Closed on
Feb 28, 2017
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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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
$250,000 Surety Title
$130,000 --
-- None Available
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 Prior Sale
04/21/2022 04/21/22 Sold $250,000 -0.4% --
02/27/2022 02/27/22 Pending -- -- --
02/26/2022 02/26/22 For Sale $250,900 +93.0% --
05/14/2018 05/14/18 Sold $130,000 -3.6% -- View Prior Sale
05/02/2018 05/02/18 Pending -- -- --
05/02/2018 05/02/18 For Sale $134,900 -- --
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 $1,666 $148,500 $57,400 $91,100
2025 $1,666 $148,500 $57,400 $91,100
2024 $1,666 $148,500 $57,400 $91,100
2023 $1,590 $148,500 $57,400 $91,100
2022 $1,349 $131,100 $57,400 $73,700
2021 $978 $131,100 $57,400 $73,700
2020 $1,282 $131,100 $57,400 $73,700
2019 $1,268 $131,100 $57,400 $73,700
2018 $1,256 $131,100 $57,400 $73,700
2017 $1,732 $183,700 $95,600 $88,100
2016 $1,666 $183,700 $95,600 $88,100
2015 $1,644 $183,700 $95,600 $88,100
2014 $1,620 $183,700 $95,600 $88,100
Source: Public Records

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Map

Source: South Jersey Shore Regional MLS

MLS Number: 560061

South Jersey Shore Regional MLS

APN: 08-00701-0000-00015-0000-C308

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