6 & 8 43rd St, Ocean City, MD 21842
$3,200,000

MLS#
Mdwo119262
Price
$3,200,000
Standard Status
Active
Waterfront
N

ONCE IN A LIFETIME OPPURTUNITY. Included in this sale is 6 & 8 43rd street, consisting of a large coastal 2 bedroom 2 bath home with attached 2 car garage, 2 bedroom 1 bath apartment, two updated very well maintained 2 bedroom 1 bath cottages and four 2 bedroom 1 bath condos with parking and all located ocean block within steps to the beach and several units having great ocean views! The main house located on 8 43rd street is a beautiful coastal design with attached garage and work shop (not pictured). Enjoy the gorgeous views from your large second floor deck, that wraps around to the east side of the home for endless summer enjoyment. Two large bedrooms, updated master bath with walk in shower, hall bath with tub/shower and large laundry room make this a one of kind ocean block property. New roof in 2020 and new hvac in 2019 The two bedroom apartment is located under the main home, one bath, washer and dryer, and full kitchen. Currently is being rented year around. Two lovely seasonal cottages (Potter Cottage and Bocci Cottage) sit behind the main house, each with two bedrooms, 1 bathroom, full kitchen, dining area, large deck and outdoor shower. Recently updated in 2012 with all new flooring, kitchen, appliances, hvac, and roof. Laundry located under the cottages for guests. Rented sparingly these show very well. The four plex located on 6 43rd street known as Bahia Mar sits on a double lot that has the potential to have another 4 unit structure built (please confirm with the zoning department, contact info available). This recently updated seasonal 4 unit building has amazing ocean views from the top two units (2E, 2W). New roof in 2019. Each unit consists of two bedrooms, 1 bathroom, full kitchen, dining area, outdoor shower, and the top two units also have washers and dryers. 1 E and 1 W both located on the first floor were updated in 2020 with new kitchens, tankless hot water heaters, new hvac in 2018 and 2019 etc. Large siting area upon entry and within steps to the beach. These two units have access to the laundry room located under the cottages as well. The two top units (2E, 2W) have amazing ocean views, 2E was recently updated with all new flooring, kitchen appliances, and over sized windows in the kitchen making it possible to see the waves crashing from with inside the unit. This building has been condominiumized. This property has been enjoyed by family and friends for over 20 years and rented sparingly through the summer. Rental projections suggest annual gross income between $221,120- $260,400. Break down of numbers can be made available upon request. Taxes for Bahia Mar are $2,197.53 per unit. Electric averages for Bahia Mar $404-$407 per unit a year. Annual condo fee for Bahia Mar- $1500 per unit. Electric total for the main house in 2019 was $1,958.58. Electric total for the laundry room under cottages in 2019 was $484.68. Electric total for Bocci Cottage in 2019 was $284.99. Electric total for Potter Cottage in 2019 was $417.10. Bahia Mar units are 612 sqft each x 4 units for a total of 2448sqft. Total square footage for all units collectively is 6538sqft. Tax records and tax assessment are for 6 43rd St. Tax info for 8 43rd St is mentioned above. ** Seller financing available. Sellers are licensed real estate agents in Va. The potential for these properties is un paralleled, and truly a once in a lifetime opportunity.

Exterior Features


Construction Materials
Aluminum Siding

Interior Features


Heating
Heat Pump(s)
Heating Fuel
Electric
Cooling
Central A/c
Hot Water
Electric

Additional Details


Acres
0.14
Year Built
1960
New Construction
N
Property Type
Commercial Sale
County
Worcester
Lot Size Dimensions
0.00 X 0.00