Views
Address
1215 Atlantic Avenue Ocean City, MD
Price
$ 2,500,000
Property Attributes
  • MLS#MDWO116232
  • TypeCommercial
  • CountyWORCESTER
  • CityOcean City
  • AreaDirect Oceanfront
  • Zip21842
  • StyleApartment Building
  • Year Built1938
  • Taxes12901
  • Price$ 2,500,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage6000
  • Lot Size6,970 SqFt
Listing Provided Courtesy Of:
Berkshire Hathaway HomeServices PenFed Realty
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.

Price History
8/24/2020 Listed $2,500,000

General Features

Accessibility None
Business Type Apartment Building
Construction Materials Other
Cool Fuel Electric
Cooling Central A/C, Multi Units, Window Unit(s)
County WORCESTER
Exclusions 2 small mirror tables plants 2nd Floor: artwork on mantle and vases 3 bird paintings 2 wall mirrors with crystal frames 2 small glitter lamps the bedroom sets in the 2 back rooms
Flooring Carpet, Ceramic Tile, Hardwood
Heating Heat Pump(s)
Legal Subdivision SINEPUXENT BEACH CO
MLS Area Direct Oceanfront (80)
New Construction No
Ownership Fee Simple
Parking Features Private
Possession Settlement
Price Per Sq Ft 416.67
Property SubType Five Or More Units
Property Type Commercial Sale
PropertyCondition Very Good
Real Estate Owned Y/N No
Roof Architectural Shingle
Sewer Public Sewer
Tax Year 2020
Vacation Rental Y/N No
View Ocean
Water Access Y/N No
Zoning R-3

Interior Features

Central Air Y/N Yes
Heating Fuel Electric
Heating Y/N Yes
Hot Water Electric
Total Restrooms 8

Exterior Features

Building Area Total 6000.00
Car Parking Spaces 8
Inclusions Fully Furnished
Lot Dimensions 0.00 x 0.00
Lot Size Acres 0.16
Lot Size Source Assessor
Lot Size Square Feet 7100.00
Navigable Water Y/N No
Total Parking Spaces 8
Type of Parking Parking Lot
Water Oriented Y/N No
Water Source Public
Water View Y/N Yes
Waterfront Y/N No

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 21842

Price
AVG $1.22M
$2.5M
Taxes
AVG $9,585
$12,901
Visits
AVG 32
66
Year Built
AVG 1980
1938
Walkscore
AVG 52
58
Data Provided by Walkscore ® not using MLS data

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