Lynda Neil - REMAX Distinctive
12304 Coastal Hwy
OCEAN CITY, MD 21842

Description

RARE OCEANBLOCK OPPORTUNITY on 123rg St North OCMD w/ 4-Unit Building each w/ 2 Bedrooms, 2 Bathrooms. (2x) 5,000 Sqft Lots. Combined 100'x100' lot. NO CONDO FEES.*REDEVELOPMENT OPTIONS: OPTION 1: Keep existing 4 Unit Building w/ (4x) 2 Bedroom/1 Bathroom Units, Total of 2,900+ Sqft, and Build (3x) Additional Units or (3x) Townhouses on Vacate 5,000 Sqft lot. OPTION 2: Remove Existing Building and Build (6x) Units w/ possible (6x) 3 Bedrooms; or (6x) Townhouses. Buy two TDR~s (sold separately) and 7th Unit or 7th Townhouse possible. OPTION 3: Remove existing building and build up to (20x) Hotel/Motel Rooms Property Sold at $38,750 Per Hotel/Motel Room. OPTION 4: Office Space w/ Mix Use for Condo, Townhouse, or Hotel/Motel Options.Taxes at $994.70 per month. MD ASSESSED TAXABLE PROPERTY VALUE AT $845,000. Pre-Engineer Inspected and Report available! *Buyer to verify redevelopment opportunities with OC Planning and Zoning. 3D Rendered Floor Plan is for visual purposes only.

Details

MLS#1002121808
Sub-TypeResale
StatusActive
Year1960
Days On Site25

Features

SQ Feet2,912
Units4

Loading Form

Loading Form

Area Information

StateMD
CityOCEAN CITY
Zip Code21842
AreaOcean Block (82)
Listing VS Median (in 21842)
Price:
$749,900
low | high
Med:
$295,000
100% of Average
SqFt:
2,912
low | high
Med:
1,144
100% of Average
$ / SqFt:
$258
low | high
Med:
$258
49.865436603668% of Average
On Site:
25
low | high
Med:
24
100% of Average
Listing Updated: 12/15/2018
MLS Number: 1002121808
Listing Provided By:
Michael Nolen  of  Coldwell Banker Residential-120

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 participates, and is provided by BRIGHT through a licensing agreement.

Information Deemed Reliable But Not Guaranteed

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.

Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale.

Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller.

Copyright BRIGHT, All Rights Reserved