MLS® ID: 1002121906

12304 COASTAL HIGHWAY

OCEAN CITY, Maryland, 21842

$949,000 Active
  • 8 Beds
  • 4 Baths
  • 2912 SQFT
Seller has started 4 unit building renovations! 4-UNIT BUILDING FEATURES: 4x - 2 Bedroom, 1 Bathroom Units with Good Floor Plan; NEW EXTERIOR UPGRADES INCLUDE: New Flat Roof, Viwinco Windows, Vinyl Siding with White PVC Trim, New Deck with Vinyl Railings, New Stair Direction and Seperate Outside Storage Closets for Each Unit; Structural repairs based on engineering report and contractor recommendations. LOT FEATURES: Zoned R-3A; Oceanblock; 4-Unit Building Sits on 5,000 Sqft Lot; Additional Vacate Lot is 5,000 sqft; Total Lot Dimensions 100' x 100'. BUILDING WITH EXTERIOR RENOVATIONS ONLY AND LOT INCLUDED IN SALE PRICE. Price Includes only finished Exertor work and empty interior down to stubs. Great Opportunity to Own a Coastal Retreat offering vacation rental guests an experience in a like new construction building when complete. Great potential for AirBnB, HomeAway, VRBO Vacation Rental! Inquiry for list of renovations! RARE OCEANBLOCK OPPORTUNITY. NO CONDO FEES. *REDEVELOPMENT OPTIONS: [OPTION 1]: Keep existing 4 Unit Building (Total 2,900+/- Sqft), and Build (Up to 3x) Additional Units or (Up to 3x) Townhouses on Vacate 5,000 Sqft lot. [OPTION 2]: Remove Existing Building; Build (Up to 6x) Units or Townhouses; Buy two TDR's (sold separately when available) Build Possible 7th Unit or Townhouse. [OPTION 3]: Remove existing building & Build (Up to 20x) Hotel/Motel Rooms. [OPTION 4]: Office Space w/ Mix Use Space with Office(s) and/or Condo, Townhouse, or Hotel/Motel Options. Taxes at $994.70 per month. MD ASSESSED TAXABLE PROPERTY VALUE AT $957,000. Pre-Engineer Inspection Report Prior to Repairs and Report available! *Buyer to verify redevelopment opportunities with OC Planning and Zoning. 3D Rendered Floor Plan is for visual purposes only. Also listed as Residential Listing MLS#1002121906
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Listing courtesy of Coldwell Banker Residential-120

Amenities

  • Full baths
    4
  • Half baths
    0
  • Full Baths Range
    4+ Baths
  • Total Baths
    4
  • Zip
    21842
  • Office name
    Coldwell Banker Residential-120
  • Subdivision
    NONE AVAILABLE
  • SQFT
    2912
  • Bedrooms
    8
  • Property type
    Residential
  • Zoning type
    R-3A
  • School district
    WORCESTER COUNTY PUBLIC SCHOOLS
  • Year built
    1960
  • Lot size
    0.23
  • Sewer
    Public Sewer
  • Heating
    None
  • Agent name
    Michael Nolen
  • Purchase Type
    Active
  • Price Range
    $900k-$1m
  • Square Feet Range
    2500-3000 sq ft.
  • Bedrooms Range
    8 Beds
  • Year Built Range
    1989 (and earlier)
  • Office ID
    345MWG
  • Agent ID
    3256393

Location

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