• 2 48th Street #402 OCEAN CITY, MD 21842

  • $1,099,000
  • 3
    Bed(s)
  • 3.0
    Baths
  • 1,650
    Sq Ft

Fantastic opportunity to own in the luxurious Gateway Grand complex in Ocean City, MD. This 3 bedroom 3 bath residence has been recently upgraded with fresh wall paint and a custom tile backsplash. The A-style floorplan offers guest privacy with each bedroom having an attached bathroom. The primary bedroom accesses the outdoor balcony and features ocean views. Step out onto the balcony each morning to watch the everchanging sunrise over the Atlantic Ocean. The Gateway Grand is an amenity rich building offering heating indoor and outdoor pools, a 24/7 fitness center, a kid's club room with video games and board games, conditioned beach storage, multiple owner's lounges, on-site management, on-site maintenance, and on-site security in the evenings. Residence 402 has access to two parking spaces in the controlled access parking garage, which now features 7 electric car chargers. The Gateway Grand will allow you to relax and enjoy your time at the beach without a care or worry. Deeded storage locker #185 conveys with this residence. This residence was in the rental program with Central Reservations and grossed nearly $47,000 in 2022 and $43,500 in 2023. Some weeks were blocked in 2023 for owner use and it could produce more income if so desired by the new owners. Buyers to honor 2024 rentals.

Property Type :

Residential

Subdivision :

None Available

County :

WORCESTER

Style :

Residential

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Property Details

 

Bedroom Information

Total Bedrooms : 3

Master Bedroom Level: 3

Bathroom Information

Total Baths: 3

Full Baths: 3

Laundry Source

Laundry Type : Dryer In Unit,Washer In Unit

Water/Sewer

Water Source : Public

Room Information

Patio/Porch Features: Balcony

Interior Features

Carpet,Ceiling Fan(s),Combination Dining/Living,Combination Kitchen/Dining,Crown Moldings,Dining Area,Entry Level Bedroom,Flat,Floor Plan - Open,Pantry,Primary Bath(s),Recessed Lighting,Soaking Tub,Sprinkler System,Tub Shower,Upgraded Countertops,Walk-in Closet(s),WhirlPool/HotTub,Window Treatments

Roof : Flat

Exterior Property Features : Exterior Lighting,Outside Shower,Sidewalks,Underground Lawn Sprinkler

Property Amenities: Common Grounds,Elevator,Exercise Room,Fitness Center,Game Room,Meeting Room,Party Room,Pool - Indoor,Pool - Outdoor,Swimming Pool

Property Appliances: Built-In Microwave,Dishwasher,Disposal,Dryer,Freezer,Oven/Range - Electric,Refrigerator,Washer

Roofing Information

Flat

Heating & Cooling

Cooling: Central A/C

Heating: Central

Cooling Fuel: Electric

Heating Fuel: Electric

Window Information

Window Treatments: Insulated,Screens

Building Information

Exterior Features: Exterior Lighting,Outside Shower,Sidewalks,Underground Lawn Sprinkler

Exterior Wall: 2+ Common Walls

Year Built: 2008

Structure: Unit/Flat/Apartment

Major Appliances: Built-In Microwave,Dishwasher,Disposal,Dryer,Freezer,Oven/Range - Electric,Refrigerator,Washer

New Construction: No

Total Floors: 1

Total Units: 1

Built: 2008

Construction Material: Concrete,Metal Siding

Security System: Desk in Lobby,Sprinkler System - Indoor

Amenities: Common Grounds,Elevator,Exercise Room,Fitness Center,Game Room,Meeting Room,Party Room,Pool - Indoor,Pool - Outdoor,Swimming Pool

Roof: Flat

Foundation/Basement: Pillar/Post/Pier

Architecture: Unit/Flat

Pool/Private: Yes - Community

Roof Type: Flat

Exterior Features

Utilities: Cable TV Available,Electric Available

Building Name: Gateway Grand

Pool Information

Pool: Yes - Community

Amenities

Common Grounds,Elevator,Exercise Room,Fitness Center,Game Room,Meeting Room,Party Room,Pool - Indoor,Pool - Outdoor,Swimming Pool

Utility Features

Water: Atlantic

Sewer: Public Sewer

Water

Water Heat: Electric

Lot Information

Dimensions: 0.00 x 0.00

Architectural Style: Unit/Flat

Stories Total: 17

Property Information

SQ ft: 1,790

SQ ft (Living Area): 1,790

View: Bay,City,Ocean

Subdivision: NONE AVAILABLE

Financing: Cash,Conventional

Appx. Lot Dimensions: 0.00 x 0.00

New Construction: No

Type: Unit/Flat

Listing Information

Possession: Settlement

Common/Club Amenities: Common Grounds,Elevator,Exercise Room,Fitness Center,Game Room,Meeting Room,Party Room,Pool - Indoor,Pool - Outdoor,Swimming Pool

Days Of Market: 188

Lease Information

Lease Considered: No

Tax Information

Annual Tax: $8,489

Tax Year: 2023

Total Taxes Payment Frequency: Annually

Terms/Deposits/Fees

Condo Fees: $922

Assoc Fee Freq: $Monthly

Possession

Settlement

Assessment Information

Taxes Assessment Amount: $602,200

Virtual Tour

Parking Information

Total Parking Spaces: 2

Parking Type: Attached Garage,Parking Lot

Parking Features: Electric Vehicle Charging Station(s),Handicap Parking,Lighted Parking,Paved Driveway,Secure Parking,Surface,Unassigned

Has Garage: Y

Garage Type: Covered Parking

Garage Space: 2

# of Attached Garage Spaces: 2

Multi-Unit Information

Acceptable Financing: Cash,Conventional

Roof: Flat

Unit: 402

Homeowners Association Information

Association Fee 2: $922

HOA Fee Frequency: Monthly

Other Fee: $830

Other Fee Frequency: Monthly

Direction: Coastal Hwy South, Left on 48th Street, Building oceanfront on Left.

School Information

School District: WORCESTER COUNTY PUBLIC SCHOOLS

Utility Information

Cable TV Available,Electric Available

Water Source: Public

Sewer: Public Sewer

Cooling Fuel: Electric

Heating Fuel: Electric

Hot Water: Electric

Elevators: 5

Location Information

Location Type: Oceanblock

Direction: Coastal Hwy South, Left on 48th Street, Building oceanfront on Left.

Homes around $1,099,000

Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
9750 Marthas Landing Ro.., Ocean City, MD,21842 $9,990,000 6 7.5 7,634 17919 Sqft
Keyser Point Road , Ocean City, MD,21842 $420,000 -- -- 197,327 197327 Sqft
110 Sand Dollar Lane , Ocean City, MD,21842 $196,500 2 1.0 470 --
12004 Ocean Gateway , Ocean City, MD,21842 $900,000 -- -- 304,920 304920 Sqft
4306 Coastal Highway , Ocean City, MD,21842 $1,950,000 3 2.5 3,448 7150 Sqft
4302 Coastal Highway , Ocean City, MD,21842 $599,000 3 2.0 1,248 3575 Sqft
Blue Marlin , Ocean City, MD,21842 $485,000 -- -- 673,002 673002 Sqft
8240 Wilmington Lane , Ocean City, MD,21842 $855,000 4 3.0 -- --
13444 Madison Avenue , Ocean City, MD,21842 $750,000 3 2.0 2,000 5000 Sqft
10539 Sussex Road , Ocean City, MD,21842 $1,995,000 4 3.5 -- 28401 Sqft

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ByOwner last updated this listing 05/13/2024 @ 07:55

MLS: MDWO2017306
LISTED BY: Jonathan M Barker , Keller Williams Realty Delmarva
SOURCE: BRIGHT MLS
Buyer Agency Compensation: 2.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.

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