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Ocean City,MD 21842
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,002 sqft
Price per Sqft $462
Subdivision Non Development
MLS Listing ID MDWO2033400
Style Other,Contemporary,Coastal
Bedrooms 11
Full Baths 8
HOA Y/N N
Abv Grd Liv Area 4,002
Year Built 1950
Annual Tax Amount $8,827
Tax Year 2025
Lot Size 5,425 Sqft
Acres 0.12
Lot Dimensions 0.00 x 0.00
Source BRIGHT
Property Description
A rare investment opportunity in the heart of Ocean City! This fully renovated 8-unit building is a proven cash cow, generating a minimum of $170,000 in gross rental income annually. Renovated from top to bottom in 2022–2023, and new roof in 2024, the property offers worry-free ownership with all new showers, kitchens, flooring, and modern finishes throughout.
Currently operating as a successful short-term rental business, this property gives you options: live in one unit and let the others pay the bills, or manage off-site and maximize returns. With eight income-producing units, the flexibility and earning potential are unmatched.
The location is unbeatable—just steps to the Ocean City boardwalk, sandy beaches, restaurants, shopping, and entertainment. Guests return year after year for the convenience and vibrant coastal lifestyle.
Whether you're looking to expand your portfolio, run a high-yield vacation rental business, or secure a unique property with both lifestyle and investment value, 1004 Philadelphia Avenue delivers.
Location
State MD
County Worcester
Area Ocean Block (82)
Zoning R-3A
Rooms
Main Level Bedrooms 5
Interior
Interior Features Bathroom - Walk-In Shower
Hot Water Natural Gas
Heating Other
Cooling Window Unit(s)
Flooring Luxury Vinyl Tile,Tile/Brick
Fireplaces Number 1
Furnishings Yes
Fireplace Y
Heat Source Natural Gas,Electric
Laundry Washer In Unit,Dryer In Unit
Exterior
Fence Rear
Utilities Available Cable TV Available,Electric Available,Natural Gas Available,Sewer Available,Water Available
Water Access N
Roof Type Asphalt,Shingle
Accessibility 2+ Access Exits
Garage N
Building
Story 3
Sewer Public Sewer
Water Public
Architectural Style Other,Contemporary,Coastal
Level or Stories 3
Additional Building Above Grade,Below Grade
New Construction N
Schools
School District Worcester County Public Schools
Others
Senior Community No
Tax ID 2410035937
Ownership Fee Simple
SqFt Source 4002
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Financing Cash,Conventional
Special Listing Condition Standard