5 87Th Street #303 & 301, Ocean City, MD 21842-2787 $3,250,000

Beds/Baths: 10/8.2
Interior Sq. Ft: 5,347
Acreage:
Age:17 years
Style:
Unit/Flat
MLS#: MDWO2015358
Subdivision: None Available
Design/Type:
Unit/Flat/Apartment

Description

Unique opportunity to own 2 units in the rarely available St. Kitts building fittingly named "Sunrise" & "Sunset." Each spacious unit has 5 bedrooms and 4.5 baths, new HVAC units, newly replaced sliding doors, and surround sound featured in the open living areas as well as wrap around balconies with views of the beach, Atlantic Ocean & Assawoman Bay. The condos have 6 covered assigned spaces, 3 per unit, for no hassle parking and a building elevator for ease of trips to and from the beach. "Sunrise" Unit 303, has been an occasional summer retreat for the current owners and is approximately 2622 sq. ft. and will convey with most furniture. The Gourmet kitchen features granite counters, plenteous kitchen cabinets , built in wine cooler & icemaker, the granite island conveniently offers a cooktop & vented stainless steel range hood so you can prepare a feast while socializing with your guests. The living area has aesthetically pleasing cork flooring, sliding doors and windows galore allowing an abundant of natural sunlight with views of the ocean. "Sunset" Unit 301, at 2722 sq ft, is a proven high income producing rental that is being offered turn key/ fully furnished so all you have to do it start collecting the rental income. Sunset also features LVP flooring, granite counters & island, tray ceilings as well as sliders and windows galore. In between the twin units sits a beautifully decorated terrace perfect for entertaining and or family gatherings. This is an incredible offering to allow large families or great travel friends to own together in one of the most desirable garden style condo buildings in town or an incredible investment opportunity that could bring in over $280+- in gross rental income per year. Or you may just want to keep one for personal use and rent the other, either way this is an opportunity that doesn't come around often and will not be around for long!

Taxes: $8,856
Home Assoc: No
Condo Assoc: $6,280/Quarterly
Garage: Y
Basement: N
Pool: No Pool
School Dist: Worcester County Public Schools
Elem. School: Ocean City Mid. School: Berlin Intermediate School High School: Stephen Decatur

Features

Water
Water Oriented: Yes; Water Front: No; Water Access: No; Water Body Type: Ocean; Navigable: No;

Utilities
Heat Pump(s), Electric, Ceiling Fan(s), Central A/C, HRV/ERV, Electric, Hot Water - Electric, Public Water, Public Septic, Dryer In Unit, Has Laundry, Washer In Unit, Cable TV

Garage/Parking
Parking Garage, Covered Parking, Assigned Parking

Interior
Bar, Carpet, Ceiling Fan(s), Combination Dining/Living, Entry Level Bedroom, Family Room Off Kitchen, Carpet Flooring, Ceramic Tile Flooring, Luxury Vinyl Plank Flooring, Insulated Windows, Sliding Windows, Insulated Doors, Sliding Glass Doors, Sprinkler System - Indoor

Exterior
Pillar/Post/Pier Foundation, Asphalt Roof, Masonry, Vinyl Siding, Balcony, Terrace, Wrap Around Porch/Deck

Lot
Oceanside, Bay View, Ocean 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 4.74 mi

© 2024 LiveBy. All Rights Reserved.

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.

Total: 10,655
Households: 5,184
Median Age: 52.40

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

Listing Courtesy of: Sheppard Realty Inc , (443) 783-0299, jennysoldit@aol.com

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 11/08/2024.

5 87Th Street #303 & 301, Ocean City, MD 21842-2787

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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.