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508 Edgewater Avenue

Ocean City, MD 21842

– beds
– baths
3,294 sqft
5,000 sqft lot
$285 per sqft
1960 build

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508 Edgewater Avenue, Ocean City, MD. Unique Investment Property. 3 Apartments, 6 bedrooms, 4 baths. Welcome to an extremely desirable vacation rental/investment property in downtown Ocean City. This charming property has 3 apartments, a fantastic downtown Ocean City location, in a tranquil bayside neighborhood less than 100 feet from the bay. The property has a long history of short-term and long-term rental revenue. It has no HOA. Apartment #1, 1 st floor, is approximately 550 sq ft. It sleeps 4 and features 1 bedroom, 1 full bath, full kitchen, washer/dryer, and a spacious living area with picture window. Apartment #2, 1 st floor, is approximately 1,000 sq ft. It sleeps 6 and features 2 bedrooms, 1 full bath, full kitchen, washer/dryer, and a large, covered porch. Apartment #3, 2 nd floor, is approximately 1,700 sq ft. It sleeps additional persons due the oversized bedrooms and features 3 bedrooms, 2 full baths, full kitchen, separate washer/dryer, a very large living area, and a very large wrap-around sun deck. Step inside any of the 3 apartments and experience Ocean City charm. The spacious living areas in each apartment boast a stylish and comfortable atmosphere, feature practical seating, and beachy décor. Each fully equipped kitchen offers modern appliances and ample counter space for preparing meals. Parking is available for 4 cars. A public paid parking lot is close by. This exceptional property is a short distance to entertainment, pubs, shopping, beach, fabulous boardwalk, amusements, rides, and food. Located between 3rd and 4th streets (2 blocks away), the Ocean City Downtown Recreation Complex offers a lighted multipurpose ballfield, and a small ballfield appropriate for youth softball games, as well as a playground area. The complex also has basketball hoops and two hard tennis courts. The Ocean Bowl Skate Park is adjacent to the complex. Sold fully furnished.

Listing courtesy of BRIGHT / Berkshire Hathaway HomeServices PenFed Realty

Last checked: Checking… • Last updated Nov 30, 2023 •

MLS# MDWO2015792 —

The Building

Year Built:

1960
Year Built Source:

Assessor
New Construction:

No
Construction Materials:

Asbestos, Copper Plumbing, CPVC/PVC, Mixed Plumbing, Shingle Siding, Stick Built
Structure Type:

Detached
Architectural Style:

Coastal
Historic:

No
Building Levels:

2
Building Units Total:

3
Roof:

Asbestos Shingle
Door Features:

Six Panel, Insulated, Sliding Glass, Storm
Security Features:

Carbon Monoxide Detector(s), Smoke Detector
Accessibility Features:

2+ Access Exits
Foundation Details:

Crawl Space, Block
Basement:

No
Total SqFt Source:

Assessor
Total Below Grade SqFt Source:

Assessor
Tax Total Finished SqFt:

3294

Interior

Room Count:

14
Flooring Type:

Bamboo, Carpet, Ceramic Tile, Hardwood, Laminated
Fireplace:

Yes
Fireplaces:

1
Wall & Ceilings:

9'+ Ceilings, Cathedral Ceilings, Dry Wall, Paneled Walls, Wood Ceilings, Wood Walls
Living Area SqFt Source:

Assessor

Room Dimensions

Total SqFt:

3294
Living Area SqFt:

3,294 Sqft

Financial & Terms

Sale Type:

Standard
Acceptable Financing:

Conventional
Buyer Financing:

Conventional
Possession:

Settlement

Location

Directions:

Edgewater Ave between 5th and 6th Streets bayside.
Latitude:

38.33803000
Longitude:

-75.08623000
Location Type:

Bayblock

The Property

Property Type:

Multi-Family
Property Subtype:

Triplex
Lot Size Units:

Square Feet
Lot Size Acres:

0.11
Lot Size Source:

Assessor
Lot Size Dimensions:

0.00 x 0.00
Lot Dimensions Source:

Assessor
Lot Features:

Cleared, Corner, Rear Yard
Lot SqFt:

5,000 Sqft
Exclusions:

Specific memories jar and laminated card in each property.
Zoning:

R-2
Road Surface Type:

Black Top
View:

Bay, Water
In City Limits:

Yes
Outdoor Living Structures:

Balconies- Multiple, Deck(s), Porch(es)
Other Structures:

Above Grade, Below Grade
Water View:

Yes
Waterfront:

No
Water Oriented:

Yes
Water Access:

No
Water Body Type:

Bay
Navigable Water:

No
Tidal Water:

No
Land Use Code:

M
Riparian Rights:

No

Listing Agent

Contact info:

Taxes

Tax ID Number:

2410032938
Tax Year:

2022
Tax Lot:

I
Tax Annual Amount:

$8,121
Tax Assessed Value:

$586,867
Year Assessed:

2023
County Tax:

4868.00
City/Town Tax:

2607.00
Total Taxes Payment Frequency:

Annually

The Listing

Close Sale Type:

Standard Sale
Buyer's Brokerage Compensation:

2%
Buyer Agency Comp Type:

% Of Gross
Buyer Agency Comp Selection:

Percent

Heating & Cooling

Cooling Type:

Central A/C, Multi Units
Central Air:

Yes
Cooling Fuel:

Electric
Heating:

Yes
Heating Type:

Forced Air, Other
Heating Fuel:

Natural Gas

Utilities

Utilities:

Electric Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
Sewer/Septic:

Public Sewer
Electric Service:

200+ Amp Service
Hot Water:

Multi-tank, Electric
Water Source:

Public

Appliances

Appliances:

Built-In Microwave, Dishwasher, Disposal, Dryer - Electric, Dryer - Front Loading, Dual Flush Toilets, Microwave, Oven - Double, Oven - Self Cleaning, Refrigerator, Stove, Washer, Washer - Front Loading, Washer/Dryer Stacked, Water Heater

Schools

High School:

STEPHEN DECATUR
School District Name:

Worcester County Public Schools
School District Source:

Listing Agent

The Community

Exterior Features:

Awning(s), Outbuilding(s), Outside Shower, Secure Storage
Pool:

No Pool
Spa:

No
Association Recreation Fee:

No

Parking

Garage:

No
Type of Parking:

Driveway, Off Site, Off Street, On Street
Parking Features:

Concrete Driveway

Extra Units

Vacation Rental:

No
Units Furnished:

All
Single Room Units:

6
One Bedroom Units:

3
Two Bedroom Units:

2
Three Bedroom Units:

1

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
11/30/23 Nov 30, 2023	Sold	BRIGHT	$940,000	1.6%
8/29/23 Aug 29, 2023	Sold Subject To Contingencies	BRIGHT	$925,000
8/16/23 Aug 16, 2023	Listed / Active	BRIGHT	$925,000

Multifamily Sold on 11/30/2023

$940,000

Listing provided by broker:

Mechelle Nichols

Berkshire Hathaway HomeServices PenFed Realty

oceancity@penfedrealty.com

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Listing Courtesy of: BRIGHT and Berkshire Hathaway HomeServices PenFed Realty.

The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. BRIGHT MLS and Estately assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law. 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.
The offer of compensation listed above is made to, and can only be accepted by, participants of the multiple listing service in which this listing is filed.

508 Edgewater Avenue

Ocean City, MD 21842