1215 Atlantic Ave, Ocean City, Md 21842
List Price $2,500,000
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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.
1215 Atlantic Ave, Ocean City, Md
Central A/c, multi Units, window Unit(s)
Carpet, ceramic Tile, hardwood
Lot Size Dimensions
0.00 X 0.00
Listing courtesy of Berkshire Hathaway Homeservices Penfed Realty.