12304 Coastal Hwy, Ocean City, MD 21842
$949,000

MLS#
1002121808
Price
$949,000
Standard Status
Active
Waterfront
N

Seller has started 4 unit building Renovations that will transform this 4 unit building into a building like New Construction. Vacate lot and land around building are planned for landscaping! Inquiry for list of renovations to the building and each unit. Follow listing for updates to renovations. Facebook videos of progress of renovations are being records and published frequently. RARE OCEANBLOCK OPPORTUNITY on 123rd St North OCMD w/ 4-Unit Building each w/ 2 Bedrooms, 2 Bathrooms. (2x) 5,000 Sqft Lots. Combined 100'x100' lot. NO CONDO FEES.*REDEVELOPMENT OPTIONS: OPTION 1: Keep existing 4 Unit Building w/ (4x) 2 Bedroom/1 Bathroom Units, Total of 2,900+ Sqft, and Build (3x) Additional Units or (3x) Townhouses on Vacate 5,000 Sqft lot. OPTION 2: Remove Existing Building and Build (6x) Units w/ possible (6x) 3 Bedrooms; or (6x) Townhouses. Buy two TDR~s (sold separately) and 7th Unit or 7th Townhouse possible. OPTION 3: Remove existing building and build up to (20x) Hotel/Motel Rooms Property Sold at $38,750 Per Hotel/Motel Room. OPTION 4: Office Space w/ Mix Use for Condo, Townhouse, or Hotel/Motel Options.Taxes at $994.70 per month. MD ASSESSED TAXABLE PROPERTY VALUE AT $957,000. Pre-Engineer Inspected and Report available! *Buyer to verify redevelopment opportunities with OC Planning and Zoning. 3D Rendered Floor Plan is for visual purposes only. Also listed as Residential Listing MLS# 1002121906

Exterior Features


Architectural Style
Dwelling W/separate Living Area
Construction Materials
Aluminum Siding

Interior Features


Heating
None
Heating Fuel
Electric
Cooling
None
Hot Water
Electric
Units Furnished
None

Additional Details


Elementary School
Ocean City
High School
Stephen Decatur
Middle School
Stephen Decatur
Square Footage
2912
Acres
0.23
Year Built
1960
New Construction
N
Property Type
Multi-family
County
Worcester
Lot Size Dimensions
100'x100'
SchoolDistrictName
Worcester County Public Schools