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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>UNITED
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>FORM
        8-K</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>CURRENT
        REPORT</strong></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
        to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date
        of
        Report (Date of earliest event reported): September 30, 2005 </font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><strong>WILSHIRE
        ENTERPRISES, INC.</strong></font></div>
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        name of Registrant as specified in its charter)</font></div>
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                  of</font></div>
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                  or
                  organization)</font></div>
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                  No.)</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
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                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><strong><font size="2">&#160;921
                    Bergen Avenue, Jersey City,
                    New Jersey</font></strong></div>
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                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;&#160;<font size="2">(Address
                    of principal executive
                    offices)</font></div>
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                  <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2">(Zip
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;&#160;<font size="2">(Registrant&#8217;s
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              <td width="50%">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;<font size="2"><strong>(201)
                  420-2796</strong></font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
        the
        appropriate box below if the Form 8-K filing is intended to simultaneously
        satisfy the filing obligation of the registrant under any of the following
        provisions (see General Instruction A.2. below):</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt"><font style="DISPLAY: inline; FONT-FAMILY: Wingdings">o<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;</font></font></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Written
        communications pursuant to Rule 425 under the Securities Act (17 CFR
        230.425)</font></div>
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        material pursuant to
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      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font size="3" face="Wingdings">o<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;</font></font>Pre-commencement
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        pursuant to Rule 14d-2(b) under the Exchange Act (17&#160;CFR
        240.14d-2(b))</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font size="3" face="Wingdings">o<font id="TAB2" style="LETTER-SPACING: 9pt">&#160;</font></font>Pre-commencement
        communications
        pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
        240.13e-4(c))</font></div>
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        <div>&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>ITEM
        1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT</strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        September 30, 2005, Wilshire Enterprises, Inc. (&#8220;Wilshire&#8221; or the &#8220;Company&#8221;), as
        the managing member of WO Grand Hotel, LLC (the &#8220;Seller&#8221;), entered into a
        definitive agreement (the &#8220;Purchase Agreement&#8221;) with 350 Pleasant Valley Hotel
        Associates, L.L.C., (the &#8220;Acquirer&#8221;) to sell the Wilshire Grand Hotel and
        Banquet Facility (the &#8220;Wilshire Hotel&#8221;) to the Acquirer for $12.75 million. The
        Acquirer is an investor group with which Wilshire had no prior
        relationship.</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Acquirer funded a $1.0 million deposit (the &#8220;$1.0 Million Deposit&#8221;) which is
        non-refundable except if the transaction fails to close due to the inability
        of
        the Seller to deliver title to the Acquirer. The closing is scheduled to
        occur
        by December 29, 2005 unless the closing date is extended by the Acquirer
        to a
        date no later than March 28, 2006. An extension of the closing beyond December
        29, 2005 is subject to the Acquirer&#8217;s funding an additional $200,000
        non-refundable deposit. </font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Seller also entered into an agreement (the &#8220;Lease Agreement&#8221;) under which an
        affiliate of the Acquirer will lease the catering facility of the Wilshire
        Hotel
        from the Seller until the earlier of March 28, 2006 or the closing of the
        Wilshire Hotel purchase transaction. As a tenant of the catering facility,
        the
        Acquirer is obligated to pay the Seller for specified operating expenses
        such as
        common area charges, property taxes, utilities, and insurance. </font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        Acquirer is also obligated to complete certain improvements to the property,
        including repairing the roof, installing a new kitchen for the catering
        premises, and paving certain sections of the Wilshire Hotel&#8217;s parking lot (the
&#8220;Improvements&#8221;). The Improvements are subject to the Seller&#8217;s approval. The
        Acquirer may submit to the Seller invoices of its expenses related to the
        Improvements for reimbursement from the Seller. Reimbursements shall be paid
        for
        by the Seller by drawing funds from the $1.0 Million Deposit provided by
        the
        Acquirer as part of the purchase agreement. If the purchase agreement is
        terminated as a result of a default by the Seller, the Seller is obligated
        to
        refund the $1.0 Million Deposit less any applicable deductions, and any
        Improvements shall be the property of the Seller. If the Acquirer defaults
        on
        the purchase of the Wilshire Hotel, then the Improvements automatically become
        the property of the Seller and the Acquirer will forfeit the balance of the
        $1.0
        Million Deposit. If the Acquirer completes the purchase transaction, as
        currently expected, any reduction in the $1.0 Million Deposit as a result
        of the
        reimbursement of Improvements does not reduce the $12.75 million purchase
        price
        of the Wilshire Hotel; however, the remaining, unexpended portion of the
        $1.0
        Million Deposit shall be retained by Seller and credited against the purchase
        price.</font></div>
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        <div id="FTR">
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        </div>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
          <div style="WIDTH: 100%; TEXT-ALIGN: center">
            <hr style="COLOR: black" noshade size="2">
          </div>
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        <div id="HDR">
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        <div>&#160;</div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
        previous operator of the Wilshire Hotel (the &#8220;Hotel Operator&#8221;) defaulted on its
        lease payments to Wilshire in January 2005. As previously reported, on June
        2,
        2005, Wilshire completed a restructuring effort which included the termination
        of two operating leases that existed with the Hotel Operator and the
        contribution of the Wilshire Hotel by the Company to a newly formed limited
        liability company, WO Grand Hotel, LLC. The leasehold mortgagor contributed
        its
        loan receivable of $11.9 million in exchange for an equity partnership in
        the WO
        Grand Hotel, LLC.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Wilshire
        currently expects that it should receive approximately $5.25 million, after
        the
        payment of expenses and retirement of debt, in net proceeds resulting from
        the
        sale of the Wilshire Hotel and that the Company will report a gain on the
        sale
        based on its current $4.9 million book value for the property. The Company
        believes that $5.25 million in net proceeds compares favorably to the
        cumulative</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><em>&#160;</em></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">lease
        payments of $2.1 million for the five-year period of 2005-2009 as set forth
        in
        the operating leases with the previous Hotel Operator. The Hotel Operator
        ceased
        making lease payments in January 2005.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
        copy of
        the Purchase Agreement and Lease Agreement will be filed with the Company's
        quarterly report on Form 10-Q for the quarter ended September 30,
        2005.</font></div><br>
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          <div style="WIDTH: 100%; TEXT-ALIGN: center">&#160;</div>
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          </div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong><u>SIGNATURE</u></strong></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
        to the requirements of the Securities Exchange Act of 1934, the registrant
        has
        duly caused this report to be signed on its behalf by the undersigned, thereunto
        duly authorized.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">
        <table align="center" bgcolor="#ffffff" border="0" cellpadding="0" cellspacing="0" width="100%">

            <tr valign="top" bgcolor="#ffffff">
              <td width="50%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="1%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td width="49%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>WILSHIRE
                ENTERPRISES, INC.</strong></font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;<br>(Registrant)</font></td>
            </tr>
            <tr valign="top" bgcolor="#ffffff">
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Date:
                October 25, 2005&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:&#160;&#160;</font></td>
              <td><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/&#160;Daniel
                C. Pryor</font></td>
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              <td align="left">
                <div>
                  <hr style="COLOR: #000000" align="left" noshade size="2" width="80%">
                </div>
                <div><font size="2">Daniel C. Pryor</font></div>
                <div><font size="2">President</font></div>
              </td>
            </tr>
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              <td colspan="2"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
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{"company-data": {"conformed-name": "WILSHIRE ENTERPRISES INC", "cik": "0000107454", "assigned-sic": "6513", "irs-number": "840513668", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-04673", "film-number": "051153823"}, "business-address": {"street1": "1 GATEWAY CENTER,", "city": "NEWARK", "state": "NJ", "zip": "07102", "phone": "2014202796"}, "mail-address": {"street1": "1 GATEWAY CENTER,", "city": "NEWARK", "state": "NJ", "zip": "07102"}, "former-company": {"former-conformed-name": "WILSHIRE OIL CO OF TEXAS", "date-changed": "19920703"}}
UNITED
        STATES
SECURITIES
        AND EXCHANGE COMMISSION
WASHINGTON
        D.C. 20549
FORM
        8-K
CURRENT
        REPORT
Pursuant
        to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
        of
        Report (Date of earliest event reported): September 30, 2005
WILSHIRE
        ENTERPRISES, INC.
(Exact
        name of Registrant as specified in its charter)
Delaware
1-4673
84-0513668
(State
                  or other jurisdiction
                  of
(Commission
                  File
(IRS
                  Employer
incorporation
                  or
                  organization)
Number)
Identification
                  No.)
921
                    Bergen Avenue, Jersey City,
                    New Jersey
07306
(Address
                    of principal executive
                    offices)
(Zip
                    Code)
(Registrant's
                  telephone number,
                  including area code)
(201)
                  420-2796
(Former
        name or former address, if changed since last report.)
Check
        the
        appropriate box below if the Form 8-K filing is intended to simultaneously
        satisfy the filing obligation of the registrant under any of the following
        provisions (see General Instruction A.2. below):
o
Written
        communications pursuant to Rule 425 under the Securities Act (17 CFR
        230.425)
o
Soliciting
        material pursuant to
        Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement
        communications
        pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
        240.14d-2(b))
o
Pre-commencement
        communications
        pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
        240.13e-4(c))
ITEM
        1.01. ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On
        September 30, 2005, Wilshire Enterprises, Inc. ("Wilshire" or the "Company"), as
        the managing member of WO Grand Hotel, LLC (the "Seller"), entered into a
        definitive agreement (the "Purchase Agreement") with 350 Pleasant Valley Hotel
        Associates, L.L.C., (the "Acquirer") to sell the Wilshire Grand Hotel and
        Banquet Facility (the "Wilshire Hotel") to the Acquirer for $12.75 million. The
        Acquirer is an investor group with which Wilshire had no prior
        relationship.
The
        Acquirer funded a $1.0 million deposit (the "$1.0 Million Deposit") which is
        non-refundable except if the transaction fails to close due to the inability
        of
        the Seller to deliver title to the Acquirer. The closing is scheduled to
        occur
        by December 29, 2005 unless the closing date is extended by the Acquirer
        to a
        date no later than March 28, 2006. An extension of the closing beyond December
        29, 2005 is subject to the Acquirer's funding an additional $200,000
        non-refundable deposit.
The
        Seller also entered into an agreement (the "Lease Agreement") under which an
        affiliate of the Acquirer will lease the catering facility of the Wilshire
        Hotel
        from the Seller until the earlier of March 28, 2006 or the closing of the
        Wilshire Hotel purchase transaction. As a tenant of the catering facility,
        the
        Acquirer is obligated to pay the Seller for specified operating expenses
        such as
        common area charges, property taxes, utilities, and insurance.
The
        Acquirer is also obligated to complete certain improvements to the property,
        including repairing the roof, installing a new kitchen for the catering
        premises, and paving certain sections of the Wilshire Hotel's parking lot (the
"Improvements"). The Improvements are subject to the Seller's approval. The
        Acquirer may submit to the Seller invoices of its expenses related to the
        Improvements for reimbursement from the Seller. Reimbursements shall be paid
        for
        by the Seller by drawing funds from the $1.0 Million Deposit provided by
        the
        Acquirer as part of the purchase agreement. If the purchase agreement is
        terminated as a result of a default by the Seller, the Seller is obligated
        to
        refund the $1.0 Million Deposit less any applicable deductions, and any
        Improvements shall be the property of the Seller. If the Acquirer defaults
        on
        the purchase of the Wilshire Hotel, then the Improvements automatically become
        the property of the Seller and the Acquirer will forfeit the balance of the
        $1.0
        Million Deposit. If the Acquirer completes the purchase transaction, as
        currently expected, any reduction in the $1.0 Million Deposit as a result
        of the
        reimbursement of Improvements does not reduce the $12.75 million purchase
        price
        of the Wilshire Hotel; however, the remaining, unexpended portion of the
        $1.0
        Million Deposit shall be retained by Seller and credited against the purchase
        price.
The
        previous operator of the Wilshire Hotel (the "Hotel Operator") defaulted on its
        lease payments to Wilshire in January 2005. As previously reported, on June
        2,
        2005, Wilshire completed a restructuring effort which included the termination
        of two operating leases that existed with the Hotel Operator and the
        contribution of the Wilshire Hotel by the Company to a newly formed limited
        liability company, WO Grand Hotel, LLC. The leasehold mortgagor contributed
        its
        loan receivable of $11.9 million in exchange for an equity partnership in
        the WO
        Grand Hotel, LLC.
Wilshire
        currently expects that it should receive approximately $5.25 million, after
        the
        payment of expenses and retirement of debt, in net proceeds resulting from
        the
        sale of the Wilshire Hotel and that the Company will report a gain on the
        sale
        based on its current $4.9 million book value for the property. The Company
        believes that $5.25 million in net proceeds compares favorably to the
        cumulative
lease
        payments of $2.1 million for the five-year period of 2005-2009 as set forth
        in
        the operating leases with the previous Hotel Operator. The Hotel Operator
        ceased
        making lease payments in January 2005.
A
        copy of
        the Purchase Agreement and Lease Agreement will be filed with the Company's
        quarterly report on Form 10-Q for the quarter ended September 30,
        2005.
SIGNATURE
Pursuant
        to the requirements of the Securities Exchange Act of 1934, the registrant
        has
        duly caused this report to be signed on its behalf by the undersigned, thereunto
        duly authorized.
WILSHIRE
                ENTERPRISES, INC.
(Registrant)
Date:
                October 25, 2005
By:
/s/ Daniel
                C. Pryor
Daniel C. Pryor
President