1215 ATLANTIC AVE, OCEAN CITY, MD 21842

NONE AVAILABLE, Ocean City Real Estate

1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842
1215 ATLANTIC AVE, OCEAN CITY, MD 21842

1215 ATLANTIC AVE, OCEAN CITY, MD 21842

Originally $2,700,000 | For Sale: $2,650,000 MLS #MDWO113008
15 beds  8 baths
Building: NONE AVAILABLE

Seller anxious, willing to take a minimum of $50k off if the buyer can settle before August 31, 2020. All reasonable offers will be considered. This property has amazing winter income potential. Earn money year-round with this business! Just ask us how! Owning an oceanfront apartment building allows you to own 5 units while paying zero condo association fees. Not having five condo fees will save any investor a fortune.This is a rare opportunity to own your lot and building on Ocean's City's famous boardwalk. Large oceanfront lot on the boardwalk. 7,100 sq.ft lot. 6,000 Sq. Ft. of total interior space. This property boasts a rich rental history, with 5 separate apartments, all with the charm of Ocean City, including massive high ceilinged rooms, huge fireplaces, built-ins, fine woodwork, and well-built finishes. 5 units with a total of 15 bedrooms, 8 bathrooms & 5 kitchens. The apartments include 2 oceanfront 4 bedroom/2 bath massive units with oversized great rooms and dining rooms. 1 ground level 4 bedroom/2 bath walkout level with private patio, 1 2-bedroom/1bath lower level with bath 1 one-bedroom carriage house. 8 Parking spaces. Potential gross income of over $225,000 per year for $190,200 of NOI. 95% of the building was remodeled in 1986. Aside from the frame, nothing is more than 35 years old. More recently, over $150,000.00 in renovations have been done over the past seven years.Turnkey business ready to open the day after settlement. Most of the exterior and interior furniture can stay. The seller has a small list of pieces she will be keeping.Seller is willing to work part-time as a property manager for the new owner for free during the first year if needed.Seller also has a highly-skilled maintenance man willing to work at an extremely reduced rate the first year if needed.

General Details

  • Bedrooms: 15
  • Bathrooms, Full: 8
  • Lot Area: 7,100
  • County: WORCESTER
  • Year Built: 1930
  • Sub-Division: NONE AVAILABLE
  • Area: 6045
  • Sewer: Public Sewer
  • Stories: 3

Community Information

  • Zoning: R-3

Exterior Features

  • Foundation: Block
  • Garage(s): N
  • Pool: No Pool
  • Roof: Architectural Shingle
  • Style: Other
  • Exterior Features: Exterior Lighting, Secure Storage
  • Waterfront: Y
  • Water Frontage: 75
  • Waterview: Y

Interior Features

  • Basement: N
  • Flooring: Ceramic Tile, Hardwood, Carpet
  • Heating: Heat Pump(s)
  • Cooling: Y
  • Fireplace: Y
  • Furnished: Partially
  • Water: Public
  • Interior Features: 2nd Kitchen, Built-Ins, Entry Level Bedroom, Window Treatments

Lot Information

  • SqFt: 7,100
  • Dimensions: 50ft x 142ft

School Information

  • School District: WORCESTER COUNTY PUBLIC SCHOOLS
  • Elementary School: OCEAN CITY
  • Middle School: STEPHEN DECATUR
  • High School: STEPHEN DECATUR

Fees & Taxes

  • City Taxes: $4,251
  • County Taxes: $7,716

Broker & Realtor

  • Broker: Thur & Associates
  • Realtor: Sharyn M Thur
Mark Fritschle Group
For more information, call
Mark Fritschle Group
1-800-400-6275