1215 Atlantic Ave
Ocean City, MD 21842
The Coronet · Multifamily Property For Sale · 5 Units

This is a rare opportunity to own your lot and building on Ocean's City's famous boardwalk. Large oceanfront lot on the boardwalk. 7,100 sq.ft lot. 6,000 Sq.Ft. of total interior space. This property boasts a rich rental history, with 5 separate apartments, all with the charm of Ocean City, including massive high ceilinged rooms, huge fireplaces, built-ins, fine woodwork, and well-built finishes. 5 units with a total of 15 bedrooms, 8 bathrooms & 5 kitchens. The apartments include 2 oceanfront 4 bedroom/2 bath massive units with oversized great rooms and dining rooms. 1 lower level 4 bedroom/2 bath walkout level with private patio, 1 2-bedroom/1bath lower level with bath 1 one-bedroom carriage house. 8 Parking spaces Potential income of over $225,000 per year. 95% of the building was remodeled in 1986. Aside from the frame, nothing is more than 35 years old. More recently, over $150,000.00 in renovations have been done over the past seven years. Turnkey business ready to open the day after settlement. Most of the exterior and interior furniture can stay. The seller has a small list of pieces she will be keeping. Seller is willing to work part-time as a property manager for the new owner for free during the first year if needed. Seller also has a highly-skilled maintenance man willing to work at an extremely reduced rate the first year if needed.