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. Also listed as Residential Listing MLS# 1002121906

Details

MLS#1002121808
Sub-TypeResale
StatusActive
Year1960
Days On Site119

Features

SQ Feet2,912
Units4

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Area Information

StateMD
CityOCEAN CITY
Zip Code21842
AreaOcean Block (82)
Listing VS Median (in 21842)
Price:
$749,900
low | high
Med:
$319,450
100% of Average
SqFt:
2,912
low | high
Med:
1,211
100% of Average
$ / SqFt:
$258
low | high
Med:
$277
42.458757641733% of Average
On Site:
119
low | high
Med:
32
100% of Average
Listing Updated: 03/20/2019
MLS Number: 1002121808
Listing Provided By:
Michael Nolen  of  Coldwell Banker Residential-120