Wildwood Motel Sold – Mid Summer
This was kind of just jumped out at us. Normally we don’t see motel’s being sold during the summertime so for us this is a first.
Through-out the off-season, The Wildwoods had seen a ton of motels sold.
Before we move forward, you can get caught up on the motels sold by using the links below.
On the property transfers in County Clerk’s Office between 7-23-18 and 7-29-18 it was listed that 5210 Ocean Ave, in Wildwood was sold for $700,000. After researching we found that 5210 Ocean Ave is the address for the Sea Kist Motel.
It was sold to Sea Kist On The Beach LLC. According to the MLS, the property was for sale with an asking price of $975,000.
The listing stated: Huge price reduction, walk right into the 2018 summer income stream with this new price adjustment!!! Now that the hard work of opening up the property is complete why not buy and take in the income at the sellers expense.
As far as we know the property will continue to run as a motel for the rest of the season with no interruption.
Tune back in for more info!
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