1215 Atlantic Avenue

Ocean City, MD
$ 2,500,000 Beds 0 Baths 0 Sq 6,000
Monthly Estimate* How much can I afford?

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.

Commercial

  • Price
  • $ 2,500,000
  • Lot Size
  • 6,970 SqFt
  • Bedrooms
  • 0
  • Sqr Footage
  • 6,000
  • Full Bathrooms
  • 0
  • Year Built
  • 1938
  • Half Bathrooms
  • 0
  • City, Zip
  • Ocean City
  • Taxes
  • 12901
  • County
  • WORCESTER
  • Style
  • Apartment Building
  • Area
  • Direct Oceanfront
  • MLS#
  • MDWO116232
  • Zip
  • 21842
Listing Provided by: Berkshire Hathaway HomeServices PenFed Realty

Features

General

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 Annual Amount 12901.0
Tax Lot 14
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

Affordability Calculator

$3,068

Per Month

Based on the average sale price from the Bethesda, MD office

  • Monthly Principal & interest $1,939
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
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Default based on a 30-year fixed rate of 4.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Schools

Elementary School Unknown Elementary School
Middle School Unknown Middle School
High School Unknown High School

Price History

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

Property vs Zip Code Average in 21842

Price
AVG $1.19M
$2.5M
Taxes
AVG $12,598
$12,901
Visits
AVG 34
71
Year Built
AVG 1981
1938
Walkscore
AVG 52
58
Data Provided by Walkscore ® not using MLS data

Map

1215 Atlantic Avenue Ocean City, MD is a Single Family Home for sale at $2500000 with 6000 sqft and a lot size of 6,970 SqFt Acre(s). 1215 Atlantic Avenue Ocean City has 0 bedrooms, 0 baths and was built in 1938. The property's zip code is 21842 which is in Ocean City, MD

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 4.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided 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.