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    1215 Atlantic Avenue

    OCEAN CITY, MD 21842
    • $2,500,000
    • STATUS: Active
    • ON SITE: 25 days
    • ID#: MDWO116232
    UPDATED: 52 min ago
    $2,500,000
    • 0
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1938
    County:

    School Ratings & Info

    Description

    Investor Alert! Located on Ocean City, Maryland's world-famous boardwalk, this spacious oceanfront apartment building holds endless opportunities. This 6000 sq. ft. building and 7100 sq. ft. lot features five separate apartments and 8 parking spaces making it an ideal opportunity or rental investment or reconstruction. The 3-story property includes a total of 15 bedrooms, 8 bathrooms, 5 kitchens, and oversized oceanfront porches with picturesque ocean views. Each unit is unique, incorporating hardwood floors, grand fireplaces, remodeled bathrooms, and updated kitchens. There are 2 oceanfront, 4 bedroom/2 bath units with expansive great rooms and dining rooms. 1 street level 4 bedroom/2 bath walkout with a private patio. 1 2 bedroom/1 bath street level and a 1-bedroom carriage house. The property boasts a rich rental history with potential gross income of $ $289,471 per year making this an excellent investment opportunity. The second season rental income potential allows for a year-round income stream. Over $150,000 in renovation upgrades have been done in the past 7 years making it turnkey business ready the day of settlement. The 11-year-old roof offers defense against winds up to 140mps. Indulge in a piece of Ocean City's history or redevelop to suit your needs.

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    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Allison Stine Team with Northrop Realty a Long and Foster Company. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-09-18T23:52:27.747.
    www.allisonstineteam.com/homes/109292291
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    1215 Atlantic Avenue OCEAN CITY, MD 21842

    • Price: $2,500,000
    • Status: Active
    • Updated: 52 min ago
    • ID#: MDWO116232
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    1938
    Built
    Neighborhood:
    Direct Oceanfront (80)
    County:
    Worcester
    Area:
    Direct Oceanfront (80)
    School District:
    Worcester County Public Schools
    Property Description
    Investor Alert! Located on Ocean City, Maryland's world-famous boardwalk, this spacious oceanfront apartment building holds endless opportunities. This 6000 sq. ft. building and 7100 sq. ft. lot features five separate apartments and 8 parking spaces making it an ideal opportunity or rental investment or reconstruction. The 3-story property includes a total of 15 bedrooms, 8 bathrooms, 5 kitchens, and oversized oceanfront porches with picturesque ocean views. Each unit is unique, incorporating hardwood floors, grand fireplaces, remodeled bathrooms, and updated kitchens. There are 2 oceanfront, 4 bedroom/2 bath units with expansive great rooms and dining rooms. 1 street level 4 bedroom/2 bath walkout with a private patio. 1 2 bedroom/1 bath street level and a 1-bedroom carriage house. The property boasts a rich rental history with potential gross income of $ $289,471 per year making this an excellent investment opportunity. The second season rental income potential allows for a year-round income stream. Over $150,000 in renovation upgrades have been done in the past 7 years making it turnkey business ready the day of settlement. The 11-year-old roof offers defense against winds up to 140mps. Indulge in a piece of Ocean City's history or redevelop to suit your needs.
    Exterior Features

    Construction Materials Other Garage YN No Parking Features Private Parking Types Parking Lot Property Condition Very Good Riparian Rights YN No Roof Architectural Shingle View Ocean Water Access YN No Water Oriented YN No Waterfront YN No

    Interior Features

    Building Area Total 6000.00 Cooling Central A/CMulti UnitsWindow Unit(S) Exclusions 2 Small Mirror Tablesplants 2nd Floor:Artwork On Mantle And Vases 3 Bird Paintings2 Wall Mirrors With Crystal Frames 2 Small Glitter Lampsthe Bedroom Sets in The 2 Back Rooms"Mirror Room" And "Brown Gold"(All Beds Will Be Left For Buyer)These 2 Bedroom Sets Will Be Replaced With White Wicker Sets On 3rd FloorMeaning All Apartments Except For The 3rd Floor Will Come Furnished3rd Floor:Personal Wall Artbig Dining Room Table Flooring CarpetCeramic TileHardwood Heating Heat Pump(S) Heating YN Yes Inclusions Fully Furnished Net Square Feet 6000.00

    Property Features

    Accessibility Features None Assessment Year 2020 Association YN No Business Type Apartment Building Central Air YN Yes Cooling Fuel Electric Heating Fuel Electric Hot Water Electric Incorporated City Name Ocean City Navigable Water YN N New Construction YN No Number Of Units Total 0 Original MLSNumber 304260248833 Ownership Interest Fee Simple Possession Settlement Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 12901.00 Tax Assessment Amount 913100.00 Tax Lot 14 Vacation Rental YN No Water Source Public Year Built Effective 1986 Zoning R-3

    Listing courtesy of Berkshire Hathaway Homeservices Penfed Realty.


    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Allison Stine Team with Northrop Realty a Long and Foster Company. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-09-18T23:52:27.747.
     
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    The Allison Stine Team with Northrop Realty a Long and Foster Company
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    Fenwick Island DE, 19944