Price Reduction - Views
Address
5908 Coastal Highway, Ocean City, MD
Price
$ 3,700,000
Property Attributes
- MLS#MDWO2017716
- TypeMulti-Family
- CountyWORCESTER
- CityOcean City
- AreaOcean Block
- Zip21842
- StyleColonial
- Year Built2007
- Taxes$ 6982
- Price$ 3,700,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
Data Source:
Bright MLS
Property Description
An exceptional opportunity awaits savvy investors! Presenting a meticulously curated portfolio of five luxurious short-term rental units in the heart of Ocean City, MD. This portfolio offers both immediate revenue potential and long-term growth opportunities with a 15 year history of strong rental income and occupancy rates. Nestled in sought-after areas of Ocean City, moments away from beaches, entertainment, dining, and local attractions. These multi-level 4 bedroom/3.5 bathroom units are fully furnished and are able to accommodate large groups of up to 14 people per unit. Units come equipped with stainless steel appliances, granite countertops, a balcony in each bedroom, and enclosed garages that make them a must have for renters in the area. Some units offer breathtaking views of the ocean, providing guests with a memorable coastal experience. This turnkey portfolio is primed for continued success in the thriving short-term rental market of Ocean City. Whether you're an experienced investor seeking to expand your portfolio or a newcomer looking for a lucrative opportunity, this collection of properties promises both immediate returns and long-term appreciation potential.
| Price History | |
|---|---|
| 12/19/2023 | Listed $3,800,000 |
| 4/11/2024 | 3% - $3,700,000 |
General Features
| Interior Features | Combination Dining/Living,Combination Kitchen/Dining,Combination Kitchen/Living,Dining Area,Kitchen - Eat-In,Kitchen - Island |
|---|---|
| Sewer | Public Sewer |
| Heating | Central |
| Cooling | Central A/C |
| Possession | Negotiable,Settlement |
| Appliances | Dishwasher,Stove,Microwave,Dryer,Washer |
| Zoning | R |
| Garage Spaces | 12.00 |
| Pool Y/N | No Pool |
| Patio/Porch Features | Deck(s) |
| Architectural Style | Colonial |
| Construction Materials | Vinyl Siding |
| Year Built | 2007 |
| View | Ocean |
| Property SubType | Other |
| Tax Year | 2023 |
| Percent Ownership | Fee Simple |
| Cool Fuel | Electric |
| Gross Income | 301802.25 |
| OwnerPays | None |
| Accessibility | None |
| County | WORCESTER |
| Insurance Expense | 12929.01 |
| New Construction | No |
| Property Type | Multi-Family |
| Garage Y/N | Yes |
| Water Access Y/N | Yes |
| Other Structures | Above Grade,Below Grade |
| Status | ACTIVE |
| Directions | Please use GPS for directions |
| ModificationTimestamp | 2024-04-11T11:19:48 |
| City | OCEAN CITY |
| Total Units | 1 |
| MLS Area | Ocean Block (82) |
| Lot Size Square Feet | 0.00 |
| Tax Assessed Value | 495300.0 |
| Waterfront Y/N | No |
| Number of Units Leased | 5 |
| Street Name | COASTAL |
| Tax Annual Amount | 6982.0 |
| Property Condition | Good |
| Structure Type | Interior Row/Townhouse |
| Other Units | Unit 1,Unit 2,Unit 4,Unit 5,Unit 3 |
| Price Per Sq Ft | 1829.87 |
| Rent Control Y/N | No |
| Vacation Rental Y/N | No |
| Virtual Tour | https://my.matterport.com/show/?m=UBppA2MoiM2 |
| Total SQFT | 2022 |
| Days on Market | 121 |
| Lease Type | Weekly |
| Standard Status | Active |
| Year Built Source | Assessor |
| Legal Subdivision | PALM COAST CONDO |
| Tax Lot | 8A |
| Total Actual Rent | 301802.25 |
| Buyer Agent Compensation Type | % Of Gross |
| Association Recreation Fee | No |
Interior Features
| Heating Fuel | Natural Gas |
|---|---|
| Hot Water | Natural Gas |
| Basement (Y/N) | No |
| Heating Y/N | Yes |
| Fireplace Y/N | No |
| Street Suffix | HIGHWAY |
| Central Air Y/N | Yes |
| LivingAreaSource | Assessor |
Exterior Features
| Water Source | Public |
|---|---|
| Total Parking Spaces | 15 |
| Garage Features | Other |
| Type of Parking | Attached Garage,Driveway |
| Land Use Code | U |
| Foundation Details | Other |
| Water View Y/N | Yes |
| Lot Dimensions | 0.00 x 0.00 |
| Lot Size Acres | 0.00 |
| Water Body Type | Ocean |
| Lot Size Units | Square Feet |
| Lot Size Source | Estimated |
| Navigable Water Y/N | Yes |
| Water Oriented Y/N | Yes |
| # of Attached Garage Spaces | 12 |
| LotDimensionsSource | Assessor |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 21842
Price
Taxes
Visits
Year Built
Copyright © 2024, Metropolitan Regional Information Systems, Inc. All rights reserved. Information deemed reliable but is not guaranteed. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange Program of MRIS. Information provided is for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Knot6 Real Estate Services, LLC does not display
© BRIGHT, All Rights Reserved
