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6 & 8 43rd StOcean City, MD 21842Price: $3,200,000

  • Price: $3,200,000
  • 159 Days on Market
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Federal 30-year interest rate: 2.96% last updated on Jun 10, 2021
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $3,200,000List Price
  • 0.14Acreage
  • 1960Year Built

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ONCE IN A LIFETIME OPPURTUNITY. Included in this sale is 6 & 8 43rd street, consisting of a large coastal 2 bedroom 2 bath home with attached 2 car garage, 2 bedroom 1 bath apartment, two updated very well maintained 2 bedroom 1 bath cottages and four 2 bedroom 1 bath condos with parking and all located ocean block within steps to the beach and several units having great ocean views! The main house located on 8 43rd street is a beautiful coastal design with attached garage and work shop (not pictured). Enjoy the gorgeous views from your large second floor deck, that wraps around to the east side of the home for endless summer enjoyment. Two large bedrooms, updated master bath with walk in shower, hall bath with tub/shower and large laundry room make this a one of kind ocean block property. New roof in 2020 and new hvac in 2019 The two bedroom apartment is located under the main home, one bath, washer and dryer, and full kitchen. Currently is being rented year around. Two lovely seasonal cottages (Potter Cottage and Bocci Cottage) sit behind the main house, each with two bedrooms, 1 bathroom, full kitchen, dining area, large deck and outdoor shower. Recently updated in 2012 with all new flooring, kitchen, appliances, hvac, and roof. Laundry located under the cottages for guests. Rented sparingly these show very well. The four plex located on 6 43rd street known as Bahia Mar sits on a double lot that has the potential to have another 4 unit structure built (please confirm with the zoning department, contact info available). This recently updated seasonal 4 unit building has amazing ocean views from the top two units (2E, 2W). New roof in 2019. Each unit consists of two bedrooms, 1 bathroom, full kitchen, dining area, outdoor shower, and the top two units also have washers and dryers. 1 E and 1 W both located on the first floor were updated in 2020 with new kitchens, tankless hot water heaters, new hvac in 2018 and 2019 etc. Large siting area upon entry and within steps to the beach. These two units have access to the laundry room located under the cottages as well. The two top units (2E, 2W) have amazing ocean views, 2E was recently updated with all new flooring, kitchen appliances, and over sized windows in the kitchen making it possible to see the waves crashing from with inside the unit. This building has been condominiumized. This property has been enjoyed by family and friends for over 20 years and rented sparingly through the summer. Rental projections suggest annual gross income between $221,120- $260,400. Break down of numbers can be made available upon request. Taxes for Bahia Mar are $2,197.53 per unit. Electric averages for Bahia Mar $404-$407 per unit a year. Annual condo fee for Bahia Mar- $1500 per unit. Electric total for the main house in 2019 was $1,958.58. Electric total for the laundry room under cottages in 2019 was $484.68. Electric total for Bocci Cottage in 2019 was $284.99. Electric total for Potter Cottage in 2019 was $417.10. Bahia Mar units are 612 sqft each x 4 units for a total of 2448sqft. Total square footage for all units collectively is 6538sqft. Tax records and tax assessment are for 6 43rd St. Tax info for 8 43rd St is mentioned above. ** Seller financing available. Sellers are licensed real estate agents in Va. The potential for these properties is un paralleled, and truly a once in a lifetime opportunity. Sellers participating in 1031 tax deferred exchange. ** Buyers must honor 2021 rentals

Property Details of 6 & 8 43rd St

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Listed by Robert Kenton of Coastal Resort Sales and Rent

Copyright 2021 BRIGHT, All Rights Reserved.  Information Deemed Reliable But Not Guaranteed. The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which The Real McCoy Team | Coldwell Banker Residential Brokerage participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.Data last updated June 16, 2021. Some properties which appear for sale on this website may no longer be available because they are under contract, have Closed or are no longer being offered for sale.

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