NOT LISTED FOR SALE

870 E 7th St Unit 424 Ocean City, NJ 08226

Estimated Value: $225,000 - $266,000

-- Bed
1 Bath
-- Sq Ft
0.76 Acres

Last Sold August 21, 2020

Last sale price $122,000

Est. 104% increase in value since last sale

Current estimated payment $1,397/month

58 Days on Market

Highlights

  • Building is beachfront but unit may not have water views
  • Community Pool
  • Heating Available
  • Ocean City Primary School Rated A

About This Home

As of August 2020

Located just a whisper away from the beach and boardwalk, this income producing condo-tel efficiency is what you have been waiting for. With professional on-site management and inviting swimming pool, the property is well maintained. This comfortable, roomy efficiency contains all of the essentials. The unit offers a king size bed and a day bed with a full size mattress. The kitchen feature all you need for meal prep. Condo fees include internet, water, sewer, cable, electric and insurance. Providing an elevator, a parking space and storage area, this vacation oasis awaits you!

Last Agent to Sell the Property

STEVEN SPENGLER

BERGER REALTY-Main Listed on: 06/13/2020

Last Buyer's Agent

Mary Byrnes

MONIHAN REALTY

MONIHAN REALTY

Property Details

Home Type

  • Condominium

Lot Details

  • 0.76

Parking

  • 1 Parking Space

Interior Spaces

  • 1 Full Bathroom
  • 3-Story Property

Additional Features

  • Building is beachfront but unit may not have water views
  • Heating Available

Community Details

Overview

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

Recreation

  • Community Boardwalk
  • Community Pool

Pet Policy

  • No Pets Allowed

Property Details

Home Type

Condominium

Lot Details

0

Listing Details

  • Class: Condominium
  • Type: Condo
  • Style: Converted Motel
  • Age: 25+ Years
  • 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

  • Full Bathrooms: 1
  • Common Area Features: Pool

Garage/Parking

  • Parking Exterior: One Car

Utilities

  • Heating: Electric
  • Sewer: Public Sewer
  • Water: Public Water

Condo/Co-op/Association

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

Lot Info

  • Location: Beach Block, Boardwalk Area

Rental Info

  • Pets: No Pets Allowed

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 13, 2020
Closed on
Aug 21, 2020
Sold by
424 Ocean 7 Llc
Bought by
Buhl Jillian A and Buhl Keith J
Seller's Agent
STEVEN SPENGLER
BERGER REALTY-Main
Buyer's Agent
Mary Byrnes
MONIHAN REALTY
List Price
$124,900
Sold Price
$122,000
Premium/Discount to List
-$2,900
-2.32%
Current Estimated Value
$248,406

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$126,406
Avg. Annual Appreciation
14.36%

Purchase Details

Listed on
Jan 30, 2015
Closed on
Jul 1, 2015
Sold by
Tze Llc
Bought by
424 Ocean Seven Llc
Seller's Agent
Robert Gullo
Fox Real Estate-Ocean
Buyer's Agent
JOHN LAROSA
Fox Real Estate-Ocean
List Price
$85,000
Sold Price
$85,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.28%

Purchase Details

Closed on
Jun 29, 2006
Sold by
Beaver Properties Llc
Bought by
Tze Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$140,560
Interest Rate
6.6%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

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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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Buhl Jillian A $122,000 Surety Title
424 Ocean Seven Llc $85,000 Attorney
Tze Llc $175,700 The Title Company Of Jersey
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Tze Llc $140,560
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
08/21/2020 08/21/20 Sold $122,000 -2.3% --
08/10/2020 08/10/20 Pending -- -- --
06/13/2020 06/13/20 For Sale $124,900 +46.9% --
07/02/2015 07/02/15 Sold $85,000 0.0% -- View Prior Sale
06/25/2015 06/25/15 Pending -- -- --
01/30/2015 01/30/15 For Sale $85,000 -- --
Source: South Jersey Shore Regional MLS

Tax History Compared to Growth

Source: Public Records

Tax History

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
2025 $1,075 $95,800 $31,400 $64,400
2024 $1,075 $95,800 $31,400 $64,400
2023 $1,026 $95,800 $31,400 $64,400
2022 $986 $95,800 $31,400 $64,400
2021 $963 $95,800 $31,400 $64,400
2020 $937 $95,800 $31,400 $64,400
2019 $926 $95,800 $31,400 $64,400
2018 $1,243 $129,800 $54,100 $75,700
2017 $1,224 $129,800 $54,100 $75,700
2016 $1,177 $129,800 $54,100 $75,700
2015 $1,162 $129,800 $54,100 $75,700
2014 $1,145 $129,800 $54,100 $75,700
Source: Public Records

Agents Affiliated with this Home

  • S

    Seller's Agent in 2020

    STEVEN SPENGLER

    BERGER REALTY-Main

    3 in this area

    6 Total Sales

    STEVEN SPENGLER
    Section Image
  • Mary Byrnes

    Buyer's Agent in 2020

    Mary Byrnes

    MONIHAN REALTY

    (610) 613-0733

    1 in this area

    53 Total Sales

    Mary Byrnes
    Section Image
  • Robert Gullo

    Seller's Agent in 2015

    Robert Gullo

    Fox Real Estate-Ocean

    (856) 305-2091

    170 in this area

    181 Total Sales

    Robert Gullo
    Section Image

  • J

    Buyer's Agent in 2015

    JOHN LAROSA

    Fox Real Estate-Ocean

    JOHN LAROSA
    Section Image
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Map

Source: South Jersey Shore Regional MLS

MLS Number: 538204

South Jersey Shore Regional MLS

APN: 08-00701-0000-00015-0000-C424

New Jersey Cape May County Ocean City 08226

870 E 7th St Unit 424, Ocean City, NJ

Not Listed for Sale

Condos

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