CHARIS REALTY GROUP

Other, Contemporary, Coastal

1004 PHILADELPHIA AVENUE

OCEAN CITY , MD 21842

MLS#: MDWO2033400

$1,850,000

Status: Active
Listing number: MDWO2033400
Listing provided by: Coldwell Banker Realty
Listing agent phone: None
Last update: 2 months ago
On site: 2 months ago
Browse Properties
NON DEVELOPMENT - Residential

Property

Beds

11

Full Baths

8

1/2 Baths

None

Year Built

1950

Sq.Footage

4,002

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.

Features & Amenities

Interior

  • Total Bedrooms

    11

  • Bathrooms

    8

  • Above Grade Finished Area

    4002.0

  • Basement YN

    NO

  • Cooling YN

    YES

  • Cooling

    Window Unit(s), Electric

  • Fireplace YN

    YES

  • Heating YN

    YES

  • Heating

    Electric, Natural Gas, Other

  • Main Level Bedrooms

    5

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Other

  • Parking

    On Street, Parking Lot

  • Pool

    Yes

  • Pool Features

    None

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.12

  • Property Type

    Residential

  • Architectural Style

    Other, Contemporary, Coastal

Price

  • Sales Price

    $1,850,000

  • Tax Amount

    8827.0

  • Zoning

    Apartment Building

  • Sq. Footage

    4, 002

  • Price/SqFt

    $462

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    N/A

Property Features

  • Stories

    3

  • Senior Community YN

    NO

  • Sewer

    Public Sewer

  • Tax Lot

    2

  • Water Source

    Public

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Location

County

WORCESTER

Elementary School

Middle School

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Listing Courtesy of Shawn Kotwica , Coldwell Banker Realty

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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.

1004 PHILADELPHIA AVENUE

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