Victorian Multi-Unit Hospitality
300 East 10th Street Ocean City, NJ 08226
For Sale
$1,499,900
Versatile 13-bedroom Victorian home with newly remodeled first-floor kitchen and indoor/outdoor gathering spaces.
Property Size3,571 SF
Price / SF$420.02
Days on Market162
Property Features for 300 East 10th Street
General Information
- Standard status
- Active
- Size
- 3,571 SF
- Property subtype
- MULTI-FAMILY / Duplex
Building Details
- Year Built
- 1953
Listing Agency:
BHHS FOX and ROACH-Simpson OC
(856) 207-1670
Listed By:
ROBERT IDELL · License #1538279
(856) 207-1670
Source:
Compass
Added: Feb 12
Changed: Jul 23
Last Checked: Jul 23 at 6:01PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BHHS FOX and ROACH-Simpson OC
Investment Insights
Based on property information with market context.
This Victorian-style home offers hospitality-ready flexibility with a total of 13 bedrooms and multiple bathroom configurations. The first floor is set up as a 3-bedroom, 1-bath unit, and features a newly remodeled kitchen with a stainless appliance package, Shaker-style cabinets, quartz countertops, and luxury vinyl plank flooring throughout. The second and third floors include 9 bedrooms and 2 full baths, along with shared amenities including a full kitchen, laundry room, game room, and living room.
The property is currently operated as a bed-and-breakfast style Airbnb setup with 9 private rooms and common area spaces. Outdoor living includes an oversized wraparound front porch and a back deck, plus an outside shower. Architectural details are preserved while modern updates have been made throughout.
In addition to the current hospitality use, the home’s layout supports conversion possibilities including a single-family configuration, a duplex structure with the first-floor and upper-floor arrangements, or a mixed-use approach with commercial use on the first floor and residential use above.
The property is currently operated as a bed-and-breakfast style Airbnb setup with 9 private rooms and common area spaces. Outdoor living includes an oversized wraparound front porch and a back deck, plus an outside shower. Architectural details are preserved while modern updates have been made throughout.
In addition to the current hospitality use, the home’s layout supports conversion possibilities including a single-family configuration, a duplex structure with the first-floor and upper-floor arrangements, or a mixed-use approach with commercial use on the first floor and residential use above.
Key Highlights
- 13‑bedroom Victorian home built in 1953 with 3 full baths total (3‑bedroom unit with 1 full bath plus 9 bedrooms with 2 full baths)
- First‑floor 3‑bedroom, 1 full bath unit with newly remodeled kitchen featuring stainless appliances, shaker cabinets, and quartz countertops
- Property currently set up as a bed‑and‑breakfast style AIRBNB with 9 private rooms plus full kitchen, 2 full baths, and common areas
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $79.3k | $22.20 |
| − Vacancy | −$3.8k | −$1.05 |
| EGI | $75.5k | $21.15 |
| − OpEx | −$22.7k | −$6.34 |
| NOI | $52.9k | $14.80 |
3,571 SF · lease $22.20/SF/yr · vacancy 4.75% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$755.1K
$660.7K – $881.0K
NOI $52,857 @ 7.0% cap · market cap 3.52%
Second Best
Apartment 5plus
$694.1K
$607.3K – $809.8K
NOI $48,587 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$1.09M
$956.5K – $1.28M
NOI $76,517 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Bed & breakfasts
Similar Off Market Nearby
- Glen-Nor Inn — 1015 Central Ave, Ocean City, NJ 08226
- Inn of All Seasons — 1216 Ocean Ave, Ocean City, NJ 08226
- Oceanic Motel Condominium — 1110 Wesley Ave, Ocean City, NJ 08226
- The Adelmann’s — 1228 ocean ave, ocean city, nj 08226
- Osborne's Inn — 601 15th St, Ocean City, NJ 08226
FAQs
What type of property is this?
Bed & breakfast - Versatile 13-bedroom Victorian home with newly remodeled first-floor kitchen and indoor/outdoor gathering spaces.
Where is this bed & breakfast located?
The property is located at 300 East 10th Street Ocean City, NJ.
What is the asking price?
The asking price for this property is $1,499,900.
What are key features of this property?
This property features: 13‑bedroom Victorian home built in 1953 with 3 full baths total (3‑bedroom unit with 1 full bath plus 9 bedrooms with 2 full baths); First‑floor 3‑bedroom, 1 full bath unit with newly remodeled kitchen featuring stainless appliances, shaker cabinets, and quartz countertops; Property currently set up as a bed‑and‑breakfast style AIRBNB with 9 private rooms plus full kitchen, 2 full baths, and common areas
