#596571, Listing office: eXp Realty - Ocean City O382L
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
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
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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
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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.
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.
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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.