Property

Ocean City, MD 21842 1004 Philadelphia Avenue

$1,850,000

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Presented By: Coldwell Banker Realty
  • MLS# MDWO2033400
  • 09/17/2025
  • Request Tour
  • Request Info
  • Beds • 11
  • Baths • 8
  • SQFT • 4,002

Home Details

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 20222023, 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 unbeatablejust 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 youre 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.
Presented By: Coldwell Banker Realty

Interior Features for 1004 Philadelphia Avenue

Bedrooms

Bedrooms Count All Upper Levels6
Bedrooms Count Upper Level 15
Bedrooms Count Upper Level 21
Main Level Bedrooms5
Total Bedrooms11

Bathrooms

Bathrooms Full Upper Level 21
Bathrooms Full Upper Level 14
Bathrooms Full All Upper Levels5
Bathrooms Count Upper Level 21.00
Bathrooms Count Upper Level 14.00
Bathrooms Count All Upper Levels5
Total Baths8

Other Interior Features

LivingAreaSourceEstimated
Below Grade Unfin Area UnitsSquare Feet
Below Grade Unfin SQFT0
Below Grade Unfin SQFT SourceEstimated
Above Grade Finished Area4002
Above Grade Finished Area SourceEstimated
Above Grade Finished Area Unit TypeSquare Feet
Basement (Y/N)No
Below Grade Finished Area0
Below Grade Finished Area SourceEstimated
Below Grade Finished Area Unit TypeSquare Feet
Central Air Y/NNo
Fireplace Y/NYes
FlooringLuxury Vinyl Tile, Tile/Brick
Heating FuelNatural Gas, Electric
Heating Y/NYes
Hot WaterNatural Gas
Interior AmenitiesBathroom - Walk-In Shower
Laundry TypeWasher In Unit, Dryer In Unit
Total Fireplaces1
Total Stories3

Other Rooms

Entry Level1

General for 1004 Philadelphia Avenue

Acceptable FinancingCash, Conventional
Accessibility2+ Access Exits
Architectural StyleOther, Contemporary, Coastal
Association Recreation FeeN
Bathrooms Count Main Level3.00
Bathrooms Full Main Level3
Building NameNONE AVAILABLE
CityOCEAN CITY
Condo/Coop Association fee Y/NNo
Construction MaterialsCombination, Mixed Plumbing, Stick Built, Other
Cool FuelElectric
CoolingWindow Unit(s)
CountyWORCESTER
DirectionsBaltimore Ave Turn Left on 9th St Right on Philadelphia Ave Units are on the right
ExclusionsExclusions list will be provided upon request
Federal Flood ZoneAE
Full Baths8
Garage Y/NNo
HOANo
HeatingOther
Levels3
Living Area4002
Lot Size Square Feet5425.00
Lot Size UnitsSquare Feet
MLS AreaOcean Block (82)
MunicipalityOcean City
New ConstructionNo
Other StructuresAbove Grade, Below Grade
OwnershipFee Simple
PossessionSettlement
Price Per Sq Ft Total AG462.27
Property ConditionExcellent, Very Good
Property TypeResidential
RoofAsphalt, Shingle
School DistrictWORCESTER COUNTY PUBLIC SCHOOLS
Senior Community Y/NNo
SewerPublic Sewer
Standard StatusActive
StatusACTIVE
Structure TypeOther
Subdivision NameNON DEVELOPMENT
Tax Annual Amount8827.0
Tax Assessed Value1500000.0
Tax Lot2
Tax Year2025
Total Actual Rent170000.00
Total SQFT4002
UtilitiesCable TV Available, Electric Available, Natural Gas Available, Sewer Available, Water Available
Vacation Rental Y/NYes
Water Access Y/NNo
Year Built1950
Year Built SourceEstimated
ZoningR-3A

Exterior for 1004 Philadelphia Avenue

FencingRear
Land Assessed Value0.00
Lot Dimensions0.00 x 0.00
Lot Size Acres0.12
Lot Size SourceEstimated
LotDimensionsSourceEstimated
Navigable Water Y/NNo
Parking FeaturesFenced, Surface
PoolNo Pool
Road Frontage Length50
Type of ParkingOn Street, Parking Lot
Water Oriented Y/NNo
Water SourcePublic
Water View Y/NNo
Waterfront Y/NNo

Additional Details

Price History

Tina Torres

Broker/Owner
Price $1,850,000
MLS#MDWO2033400
List Date 09/17/2025
Property Type Single Family
Phone (973) 332-3022
Request Tour
Request Info
Visit My Website

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