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$8,750,000

726-730 Ocean Ave Ocean City, NJ 08226

Multi-Family

Property details

About 726-730 Ocean Ave

Unmatched Investment Opportunity – Dual Hotel Portfolio in the Heart of Ocean City, NJ! Now available: a rare chance to acquire TWO established hospitality properties in one of the most coveted beach destinations on the East Coast! Located just steps from the Ocean City boardwalk and beaches, 724 Ocean Avenue and 617 E 8th Street are being offered as a combined hotel package — delivering prime location, proven cash flow, and substantial upside potential. 724 Ocean Avenue (The COVE Hotel): A classic shore hotel featuring 29 guest rooms (plus 10 additional bonus room to house staff), swimming pool, on-site parking, common living room, and on-site amenities — ideal for short-term rentals, group lodging, or seasonal stays. The Cove is newly renovated making it a turnkey opportunity. 617 E 8th Street (The BLUE WATER Inn): Just around the corner, this second hotel property adds 40 additional rentable units with a parking lot, which includes 32 hotel suites, 5 apartments and 3 currently leased commercial units, perfect for expanding occupancy and revenue. This hotel is one of the last moderately priced hotels and "value add" property available in Ocean City. Key Investment Highlights: • Prime boardwalk/beach-block location • Combined high-capacity lodging potential • Strong repeat guest base • Zoned for hospitality • Turnkey operation or value-add opportunity • Perfect for boutique hotel operators, group rental hosts, or portfolio investors Opportunities like this rarely come to market — own a piece of Ocean City’s thriving tourism economy with two centrally located hospitality assets that offer immediate income and long-term appreciation. Each hotel property (724 Ocean Ave & 617 E 8th St) is listed separately for sale. This offering is for your opportunity to buy as a package only while still available as a combo sale. Shown by appointment only. NDA and proof of funds required.

Highlights

Home typeMulti Family
HeatingNone, Space/Wall/Floor
StatusActive
CoolingCeiling Fan(s), Window Unit(s)
BasementYes
ParkingThree or More Cars
MLS #596572
WaterfrontSee Remarks
ViewSee Remarks, Pool
Private poolYes

Summary

  • Appliances: Dryer, Microwave, Refrigerator, Washer
  • Basement: Yes
  • Attached Garage: No
  • Private Pool: Yes
  • Parking: Three or More Cars
  • Waterfront: See Remarks
  • View: See Remarks, Pool
  • Exterior: In Ground Pool, Curbs, Porch, Sidewalks
  • Heating: None, Space/Wall/Floor
  • Cooling: Ceiling Fan(s), Window Unit(s)
  • List Price: $8,750,000
  • Lot: Curbs, Sidewalk
  • Directions: 9th St bridge to Ocean Ave, turn left on Ocean Ave to the corner of 8th St & Ocean Ave.
  • MLS Number: 596572
  • Office Name: eXp Realty - Ocean City O382L
  • Office Phone: (609) 513-1126

Broker Reciprocity Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the South Jersey Shore Regional (SJSR) MLS. Real estate listings held by brokerage firms are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. © 2025 SJSR MLS. All rights reserved.

The information on this web site is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. We are not responsible or liable for misinformation, misprints, or typographical errors. All information provided is deemed reliable but is not guaranteed and should be independently verified through personal inspection by and/or with the appropriate professionals. Properties subject to prior sale, change, withdrawal or rental.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 7/24/2025, 9:45:33 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Price information

Property sales

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Tax history

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Nearby schools

5

Ocean City Primary School

Public District PK-3

1.0 mi

550 West Ave

5

Upper Township Elementary School

Public District 3-5

3.5 mi

50 N Old Tuckahoe Rd

2

Dawes Avenue Elementary School

Public District KG-3

3.7 mi

22 W Dawes Ave

School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.

All data from GreatSchools

Neighborhood

The neighbors living near this home have an average income of $73,438. The most common annual income of people living in Ocean City, NJ is between $35k-100k. Residents typically live in single, no kids family. Residents of this area typically have post secondary degree education.

How much money do the neighbors make?

25%
<35k
45%
35k-100k
23%
100k-200k
7%
200k+

What level of education do the neighbors have?

High School Diploma
Post Secondary Degree
Masters Degree

What types of families live nearby?

56%
Single, No Kids
5%
Single, with Kids
31%
Married, No Kids
8%
Married, with Kids

Are the neighbors home owners or renters?

Home Owners
Renters

How old are people in this area?

7%
<11 yrs old
4%
12-17 yrs old
15%
18-34 yrs old
45%
35-64 yrs old
29%
65+ yrs old

What do the neighbors do for fun?

  • PGA/LPGAPGA/LPGA
  • Hiking/backpackingHiking/backpacking
  • Figure SkatingFigure Skating

Where do the neighbors shop?

  • Stein MartStein Mart
  • Nordstrom RackNordstrom Rack
  • Chico'sChico's

Where do the neighbors go to eat?

  • Bonefish GrillBonefish Grill
  • ChipotleChipotle
  • Bob EvansBob Evans

What do the neighbors drive?

  • LincolnLincoln
  • MazdaMazda
  • OldsmobileOldsmobile

What do the neighbors listen to?

  • ClassicalClassical
  • RockRock
  • NewsNews
All data provided by Home Junction and Claritas

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Frequently asked questions

About 726-730 Ocean Ave

The listing price of 726-730 Ocean Ave property is $8,750,000.

The property 726-730 Ocean Ave is a multi located in Ocean City, New Jersey, 08226.

Active Listing: 726-730 Ocean Ave is For Sale (Active/New) which means the seller is accepting offers.

The nearby schools for 726-730 Ocean Ave are: Ocean City Primary School (GreatSchools Rating 5/10), Upper Township Elementary School (GreatSchools Rating 5/10), Dawes Avenue Elementary School (GreatSchools Rating 2/10), Ocean City Intermediate School (GreatSchools Rating 6/10), Jordan Road Middle School (GreatSchools Rating 4/10), Belhaven Middle School (GreatSchools Rating 7/10), Ocean City High School (GreatSchools Rating 5/10), Chartertech High School for the Performing Arts (GreatSchools Rating 2/10), Mainland Regional High School (GreatSchools Rating 5/10).

This home is located at 726-730 Ocean Ave in Ocean City, NJ and zip code 08226. Features: 0 bathroom. It has been listed on Rocket Homes since May 23, 2025 and is currently priced at $8,750,000.

While more than 11 listings in Ocean City, NJ in June 2025 were sold above asking price, there were more than 7 listings sold at asking price, and more than 38 were sold below. The inventory of homes for sale in Ocean City, NJ between May and June 2025 decreased by 1.3%. The median list price of listings available in June 2025 was $1,027,500, while the average time on the real estate market was 58 days.

From Rocket Homes Real Estate and based on county public records data.

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