509 East 7th Street

Ocean City, NJ 08226

$949,999
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Looking for an income generating property? Personal paradise? Look no further! So many options with this gem, earn income with one unit and enjoy the other, use both for yourself, renovate or enjoy as is! Property zoning is R-MF which allows for single and multi-family dwellings. This property’s ideal location puts you a short walk from the heart of Asbury Ave, beaches and boardwalk. Location, location, location. Entering the first floor unit you’ll be greeted by the bright and airy living and dining...Looking for an income generating property? Personal paradise? Look no further! So many options with this gem, earn income with one unit and enjoy the other, use both for yourself, renovate or enjoy as is! Property zoning is R-MF which allows for single and multi-family dwellings. This property’s ideal location puts you a short walk from the heart of Asbury Ave, beaches and boardwalk. Location, location, location. Entering the first floor unit you’ll be greeted by the bright and airy living and dining areas with original hardwood floors. This unit offers 2 bedrooms and 2 full bathrooms. While downstairs you’ll notice a perfect blend of upgrades with charm throughout. Some newly renovated areas include the ensuite bathroom with a carrera marble vanity as well as the kitchen which offers a brand new granite counter tops and breakfast bar and new lighting. But for those who appreciate the classics, the original hardwood flooring and clawfoot soaking tub will be sure to catch your eye as well. Moving upstairs, you’ll be welcomed by a wraparound deck, a perfect place to enjoy a meal and the summer breeze after a long day on the beach. The second floor unit which was recently renovated features 2 large bedrooms and 1 bathroom. You’ll notice the luxury vinyl wood plank flooring, and kitchen upgrades such as stainless steel appliances and granite counters. Property also has newer high end gas heating system, new instant hot water heater, enclosed outdoor shower and one off street parking area. A one year home warranty is included. Current owner is licensed NJ Realtor.
  1. Listed by Kari Lynn Fagan • eXp Realty - Montclair

Property Details for 509 East 7th Street

City/Community
Ocean City
Class
MULTI-FAMILY
Parking - Exterior
One Car
Waterfront (Y/N)
No
Zoned
RMF

Location

Listing Courtesy of eXp Realty - Montclair
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LISTING UPDATED: 03/07/2024 12:09 PM

Property Details for 509 East 7th Street

StatusActive
MLS #581845
Days on Market87
Taxes$3,885 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMULTI-FAMILY / Duplex
Year Built1920
Lot Size0.04 AC / 1,750 SF
CountyCape May County

Location

Listing Courtesy of eXp Realty - Montclair
Add your commute

Building Information for 509 East 7th Street

Stories-Residences2Year Built1920Building Size-Lot Size0.04 AC / 1,750 SF

Payment Calculator

$5,508 per month

30 year fixed, 7.25% Interest

Principal and Interest

$5,185

Property Taxes

$324

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 509 East 7th Street

Summary
Location and General Information
  • Address: 509 E 7th St Street
  • Address Direction: E
  • Address Number: 509
  • Address Search Number: 509
  • Address Street: 7th St
  • Area: Ocean City/Central
  • County: Cape May
  • Directions: From 9th St bridge, left on Central Ave, right on 7th St, house is on left
  • Fips Code: 34009
  • State: NJ
  • Street Designation: Street
  • Zip: 08226
Owner
  • Owner: Fagan & Fagan Properties
Parking
  • Garage: None
Taxes and HOA Information
  • LVT Date: 02-03-2024
  • Tax Year: 2023
  • Taxes: 3885
Property
Lot Information
  • Approved Short Sale?: No
  • Block #: 25
  • Lot #: 603
  • Lot Dimensions: 50x35
Property and Assessments
  • Also Includes: Furnished
  • Associated Document Count: 0
  • Improved Value: $129,800
  • Land Value: $232,900
  • New Construction: No
  • Property Id: 08-00603-0000-00025
  • Total Assessment: 362700
  • Water: Public
  • Year Built: 1920
  • Adult Community/55+: No
Utilities
  • Sewer: Public Sewer
  • Water Heater: Tankless-gas
Interior and Exterior Features
Exterior Features
  • Driveway: Concrete
  • Outside Features: Outside Shower, Porch
  • Siding/Exterior: Concrete, Vinyl
Interior Features
  • Air Conditioning: Window Units
  • Appliances: Dishwasher, Dryer, Gas Stove, Microwave, Refrigerator, Washer
  • Basement: Crawl Space
  • Heating: Gas-Natural
  • Other Rooms: Laundry/Utility Rm
Multi Family
Multi-Family Information
  • Annual Taxes: 3885
  • Limited Service (Y/N): No
  • Number Of Units: 2
  • Owner Occupied (Y/N): No
  • Separate Meters: Electric, Gas

Property History for 509 East 7th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 509 East 7th Street

Taxable ValueLand$232,900Additions$129,800Total$362,700
Tax Record2022$3,732 ($311 / month)
Home Facts
Beds0Total Finished SqFt1,336 SqFtAbove Grade Finished SqFt1,336 SqFtStories2Lot Size1,751 SqFtStyleSingle Family ResidenceYear Built1920ZoningHD3CountyCAPE MAYAPN08 00603-0000-00025

Schools near 509 East 7th Street

This home is within Ocean City School District.
Rating
School
Type
Grades
Distance
Public - PK to 3
Public - 4 to 8
Public - 9 to 12
Private - K to 8
Rating
School
Distance
Ocean City Primary School
PublicPK to 3

Ocean City Intermediate School
Public4 to 8

Ocean City High School
Public9 to 12

St. Augustine Regional School
PrivateK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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509 East 7th Street is a multi-family home for sale in Ocean City, NJ 08226. This property was listed for sale on February 3, 2024 by eXp Realty - Montclair, it's currently listed at $949,999. It has been on the market for a total of 87 days and was last sold on June 30, 2016. This listing's school district is Ocean City School District. Nearby schools include Ocean City Primary School, Ocean City Intermediate School and Ocean City High School. 509 East 7th Street is a 0-bed, 0-bath, multi-family home built in 1920.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of eXp Realty - Montclair

Based on information from one of the following Multiple Listing Services: BRIGHT, Greator Scranton Board of REALTORS®. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by BRIGHT, Greator Scranton Board of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.