12304 Coastal Hwy
OCEAN CITY, MD 21842

Description

Seller has started 4 unit building Renovations that will transform this 4 unit building into a building like New Construction. Vacate lot and land around building are planned for landscaping! Inquiry for list of renovations to the building and each unit. Follow listing for updates to renovations. Facebook videos of progress of renovations are being records and published frequently. RARE OCEANBLOCK OPPORTUNITY on 123rd 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 $957,000. 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 Site210

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:
$949,000
low | high
Med:
$329,900
100% of Average
SqFt:
2,912
low | high
Med:
928
100% of Average
$ / SqFt:
$326
low | high
Med:
$355
40.916391119509% of Average
On Site:
210
low | high
Med:
62
100% of Average
Listing Updated: 06/19/2019
MLS Number: 1002121808
Listing Provided By:
Michael Nolen  of  Coldwell Banker Residential-120