We were contacted over the weekend from a family, The Casus, that was having trouble trying to book their vacation at a Wildwood Crest motel.
Wildwood Crest Motel Sold
The motel in question was the Mark 1 Motel located at 417 E Atlanta Ave.
Noticing that their website was shutoff we tried to give them a call to find that it was also shutoff.
Looking at public notices and property transfers we were sad to learn that the Mark 1 Motel was sold for 1.4 Million last week.
According to the listing, multiple properties were put up for sale. (adding an additional sale of 692K) Below is the listing.
“ATTENTION INVESTORS STEPS TO BEACH! A rare gem located on the BEACH BLOCK which is 300 X 100 concurrently, which is one of the most desirable locations in Wildwood Crest. This unique opportunity is truly one of a kind. Prime Real Estate sits directly off the Beach on Atlanta Avenue and features 4 very special property types.
The first is closest to the beach which is a meticulously cared for 21 Unit Motel with units wrapping around a sizable Pool & Lounge Area. Just the motel can be purchased and asking $2,999,900. There is an Office On-Site as well as parking for each unit.
Next to the Motel is a gorgeous property consisting of (3) Units which (2) are turn-key and currently owners Residence and a 1-1 bedroom Apt that is seasonally rented. Within this particular building there is a 3rd unit which is served as Storage which could be converted into a unit for use.
A Vacant 50 x 100 Lot which separates it from a Triplex which includes 2 Units on the First level and 1 Unit on the Second Level. There is also a large Laundry Room and additional options for Storage within this Triplex.
All in all this is one of the most precious pieces of land with the utmost income producing
potential properties located on its grounds. Triplex is heated for year round use.”
Now there is no word on the future of this motel at this time. We will reach out to the new owners to see what they plan on doing with it.
They had been taking reservations for the 2021 season so there is hope that this will continue to stand as a motel.
Tune back later for more details.
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