1215 Atlantic Ave, Ocean City, MD 21842
$2,500,000

MLS#
Mdwo116232
Price
$2,500,000
Standard Status
Active
Waterfront
N

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


View
Ocean
Construction Materials
Other
Parking Features
Private
Roof
Architectural Shingle

Interior Features


Heating
Heat Pump(s)
Heating Fuel
Electric
Cooling
Central A/c, multi Units, window Unit(s)
Hot Water
Electric
Flooring
Carpet, ceramic Tile, hardwood

Additional Details


Acres
0.16
Year Built
1938
New Construction
N
Property Type
Commercial Sale
County
Worcester
Lot Size Dimensions
0.00 X 0.00