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Ocean City,MD 21842
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,840 sqft
Price per Sqft $429
MLS Listing ID MDWO2028470
Style Coastal
Abv Grd Liv Area 3,840
Originating Board BRIGHT
Year Built 1959
Annual Tax Amount $11,378
Tax Year 2024
Lot Size 6,000 Sqft
Acres 0.14
Lot Dimensions 0.00 x 0.00
Property Sub-Type Quadruplex
Property Description
Welcome to this truly exceptional and rare 12-bedroom multi-family residential listing located just steps from the beach in the highly sought-after midtown Ocean City! The 83rd st ocean block offers an optimal beach experience with minimal density in the surrounding area. The entire property consists of 2 buildings and comprised of 4 units: two 3-bedroom/2 bathroom units, one 2-bedroom/2 bathroom unit, and one 4-bedroom/3.5 bathroom unit. The back building is where you'll find the two 3-bedroom, 2 bath units boasting with ocean views from each units balconies, the living rooms and great parking. The front building left side unit is a ground level 2-bed 2 bath upgraded apartment with a tenant already paying $1795 a month and is responsible for the electricity bill along with cable/internet. As of 1 April, there is a month-to-month lease in place, requiring 30 days notice for cancellation from either party. Interested buyers could be told that the tenant welcomes a longer term lease. The right unit is a 4 bedroom 3.5 bath house waiting for its next owners finishing touches. Many upgrades made to this entire building within the last 3 years including a complete exterior overhaul. The house features beautiful ocean views from all balconies, living room, two primary bedrooms and a light filled flex room on the top floor where you'll find a rough in for the half bath and access to the spectacular ocean view wrap around roof top deck. Electrical and plumbing are in place. Owner had electrical put in to support an elevator. Lots of construction material onsite including stair treads, doors, etc. Bathrooms are near completion with marble finishes and a freestanding tub in the primary. The kitchen comes right off the sunny ocean view living room with ample cabinets installed and a space for dining. Come see this property for yourself and all the potential is has to offer. Live in one and rent the rest or rent all four all summer and make an estimated 160-190k in rental income. Situated near local restaurants, shops, and mini golf, providing a fantastic lifestyle for tenants and guests.
Location
State MD
County Worcester
Area Ocean Block (82)
Zoning R-3
Interior
Interior Features Floor Plan - Open
Hot Water Electric
Heating Heat Pump(s)
Cooling Central A/C
Equipment Stove,Washer,Dryer,Dishwasher,Microwave
Fireplace N
Appliance Stove,Washer,Dryer,Dishwasher,Microwave
Heat Source Electric
Exterior
Exterior Feature Porch(es),Balcony
Water Access N
Accessibility None
Porch Porch(es),Balcony
Garage N
Building
Sewer Public Sewer
Water Public
Architectural Style Coastal
Additional Building Above Grade,Below Grade
New Construction N
Schools
School District Worcester County Public Schools
Others
Tax ID 2410090326
Ownership Fee Simple
SqFt Source Assessor
Acceptable Financing Cash,Conventional,Other
Listing Terms Cash,Conventional,Other
Financing Cash,Conventional,Other
Special Listing Condition Standard
Virtual Tour https://my.matterport.com/show/?m=B6bG3HNdmGx&mls=1