Patterson-Schwartz Real Estate205 10Th Street, Ocean City, MD 21842-7344 $2,650,000
Interior Sq. Ft: 6,344
Acreage: 0.31
Age:74 years
Style:
Coastal
Subdivision: None Available
Design/Type:
Detached
Description
Unique multi-family investment opportunity with endless potential! Three parcels in the heart of Ocean City are being offered together or separately, featuring two multi-family buildings and one of the last remaining buildable lots in downtown OC. These properties generate $200,000+ in annual rental income and offer excellent upside potential. With the addition of another multi-family building, even more income. 904 St. Louis Ave is a 3,600 sq. ft. building with four units—two 3-bedroom, 2-bath units and two 2-bedroom, 1-bath units. Each unit is updated, fully furnished, and ready to rent, featuring open-concept living areas, solid surface flooring, and private entrances. Large decks provide ample outdoor space, perfect for relaxing after a day at the beach. This building also has 10 parking spots shared with the neighboring 10th Street building (also for sale), making it easy for guests to park and access their units. 205 10th St is a 2,744 sq. ft. building offering four unique units—two 3-bedroom, 2-bath units, one large 1-bedroom, 1-bath unit with a full kitchen and living area, and a rear efficiency unit. All units are move-in ready and fully furnished with updated appliances, furniture, and separate entrances. Each unit also has its own porch—perfect for enjoying the coastal lifestyle. The building features a shared coin-operated laundry facility, adding convenience for tenants and an additional revenue stream for owners. 10th St Lot: A rare find in Ocean City, this last remaining buildable lot is ideal for developers or investors looking to expand. Build your dream property or create additional rental units to increase your revenue potential in this sought-after downtown location. Both buildings have undergone significant renovations. 904 St Louis has a new electric service, roof, mini-split HVAC systems (inside and out), appliances, and Ashley sleeper sofas which have been professionally cleaned at the end of every season. New deck stairs and vinyl railings. 10th St has a new full front facade including three level decks, vinyl rails and steps as well as a new roof. Perfectly situated just a short walk from the beach, boardwalk, and downtown attractions, these properties are an ideal investment for vacation rentals. The sale includes a strong digital marketing presence with an established rental website, Instagram, Facebook, and even a custom Snapchat filter—everything you need to continue generating buzz and bookings from day one. Keep in mind these properties are not rented during senior week or at all during the winter months or the big weekend events in the offseason Don’t miss out on this unique opportunity to own a slice of Ocean City’s thriving rental market. Priced to sell and move quickly! Call the listing agent today for more information.
Home Assoc: No
Condo Assoc: No
Basement: N
Pool: No Pool
Elem. School: Ocean City Mid. School: Stephen Decatur High School: Stephen Decatur
Features
Utilities
Baseboard - Electric Heating, Wall Unit Heating, Electric, Natural Gas, Ceiling Fan(s), Window Unit(s) Cooling, Ductless/Mini-Split, Electric, Natural Gas, Hot Water - Electric, Hot Water - Natural Gas, Public Water, Public Sewer, Circuit Breakers, Shared Laundry, Cable TV Available, Natural Gas Available, Phone Available
Garage/Parking
On Street, Parking Lot, Fenced Parking, Lighted Parking, Private Parking
Interior
Breakfast Area, Built-Ins, Ceiling Fan(s), Combination Kitchen/Dining, Additional Stairway, Ceramic Tile Flooring, Luxury Vinyl Plank Flooring, Dry Wall
Exterior
Block Foundation, Crawl Space Foundation, Architectural Shingle Roof, Frame Exterior, Balconies- Multiple, Deck(s), Exterior Lighting, Fire Escape, Play Area, Sidewalks, Street Lights
Lot
Cleared Lot, Corner Lot, Level Lot, Road Frontage, Premium Lot, Bayblock, City View, Street View
Select a school from the following list. Schools are grouped by school type.
The schools on this list are selected by their proximity of up to 5 miles to the property address.
Proximity does not guarantee enrollment eligibility. Please contact the school directly for more information on enrollment requirements.
* If there are more than 5 schools of any type within a close proximity, click on the button to see additional schools of that type near the search address.
Public Elementary (1 schools)
| School | District | Grades | Place | Distance |
|---|---|---|---|---|
| Ocean City Elementary | Worcester County Public Schools | Preschool–4 | Ocean City | 1.4 mi |
Private (1 schools)
| School | Grades | Place | Distance | |
|---|---|---|---|---|
| Seaside Christian Academy | Christian (no specific denomination) | Preschool–12 | Ocean City | 1.43 mi |
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This report is a detailed community overview for Ocean City (21842), Maryland.
Community Quick Facts
- Average travel time to work for people in this community: 21
- Average salary of people in this community: $46,876
Community Summary
- Population Density (ppl / mile): 683
- Household Size (ppl): 2.04
- Households w/ Children: 22%
Housing Inventory
- Owned: 3,625 (11.1%)
- Rented: 1,559 (4.8%)
- Vacant: 27,482 (84.1%)
- Total: 32,666
Population Demographics
The population of the community broken down by age group. The numbers at the top of each bar indicate the number of people in the age bracket below.
Climate and Weather
The Temperature chart displays average high and low values for January and July, and is designed to provide an indication of both seasonal and daily temperature variability. The Weather Risk Index indicates the calculated risk of each type of weather event occurring in the future. This risk is based on historical localized storm events and weather patterns. The national average for each type of weather event equals a score of 100, so a score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk of the national average.
Temperature
Education
Highest Level of Education Attained
- Less than 9th Grade: 2.8%
- Some High School: 5.5%
- High School Graduate: 28.9%
- Some College: 22.0%
- Associate Degree: 8.5%
- Bachelor's Degree: 21.3%
- Graduate Degree: 10.9%
Income by dollar range
Median Income: $55,064
Fair Market Rents
The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD).
- Studio: $713
- One Bedroom: $830
- Two Bedroom: $1,105
- Three Bedroom: $1,412
- Four Bedroom: $3,501
© 2024 LiveBy. All Rights Reserved.
Contact Information
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Listing Courtesy of: Berkshire Hathaway HomeServices PenFed Realty - OP , (410) 208-3500
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Patterson-Schwartz Real Estate participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information Deemed Reliable But Not Guaranteed.
Copyright BRIGHT, All Rights Reserved
Listing data as of 12/04/2024.
Broker Compensation
An offer of broker compensation or seller concession is not a guarantee. All compensation offers and concessions are negotiable and subject to written agreement between the parties. Please consult with your real estate agent for more information.
