$8.75M Could Get You These 2 Jersey Shore Hotels

OCEAN CITY, NJ — If you've got a cool $8.75 million to spare, you could become the next owner of a pair of Ocean City hotels - the Cove Hotel and the Blue Water Inn have been listed for sale.

Both businesses are also being sold individually. The Cove Hotel is listed at $5.5 million; the Blue Water Inn at $3.9 million.

"Now available: a rare chance to acquire TWO established hospitality properties in one of the most coveted beach destinations on the East Coast!" The listing description reads.

The properties are currently owned by local investors and brother Raj and Yogi Khatiwala, who own several other properties on the island.

The Cove Hotel was recently renovated. It offers 29 hotel rooms, 10 additional rooms for employees, a pool, on-site parking and other amenities, according to the listing description.

The Blue Water Inn is "one of the last moderately priced hotels" in Ocean City, according to the listing description. It has 40 units, comprised of 32 hotel suites, five apartments and three currently leased commercial units.

Both are located close to the beach and boardwalk, and boast delivering "prime location, proven cash flow, and substantial upside potential," according to the listing description.

"Opportunities like this rarely come to market," the description reads.

You can learn more here.