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    206 Somerset Street

    OCEAN CITY, MD 21842
    • $949,000
    • STATUS: Active
    • ON SITE: 92 days
    • ID#: MDWO115390
    UPDATED: 16 min ago
    $949,000
    • 0
      BEDS
    • 0.11
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1930
    County:

    School Information

    Elementary School:
    Middle School:
    High School:

    Description

    Welcome to your next opportunity in the Ocean City, MD opportunity zone at the Somerset Harbor property boosting 55 land use options with this DMX zoned land and units. The existing 3 buildings features 2x two bedroom, 1 bathroom units making up 6 units, and confirms with 6 units redevelopment options set to improve the area. Currently, 3 units are rented as a AirBnb vacation rental and 3 as employee/student summer housing. Each unit has been moderately updated, and is already income producing. DMX zoning allows for 55 land use redevelopment options such as a new condo building, single family home(s), hotel/motel, commercial, mixed-use, retail stores, the list goes on.... Inquire for Land-Use Resources.

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    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Redux Group | Keller Williams. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-10-27T16:52:37.23.
    dmv.thereduxgroup.com/homes/108245802
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    206 Somerset Street OCEAN CITY, MD 21842

    • Price: $949,000
    • Status: Active
    • Updated: 16 min ago
    • ID#: MDWO115390
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.11
    Acres
    1930
    Built
    Neighborhood:
    Bayside Interior (83)
    County:
    Worcester
    Area:
    Bayside Interior (83)
    Elementary School:
    Ocean City
    Middle School:
    Stephen Decatur
    High School:
    Stephen Decatur
    School District:
    Worcester County Public Schools
    Property Description
    Welcome to your next opportunity in the Ocean City, MD opportunity zone at the Somerset Harbor property boosting 55 land use options with this DMX zoned land and units. The existing 3 buildings features 2x two bedroom, 1 bathroom units making up 6 units, and confirms with 6 units redevelopment options set to improve the area. Currently, 3 units are rented as a AirBnb vacation rental and 3 as employee/student summer housing. Each unit has been moderately updated, and is already income producing. DMX zoning allows for 55 land use redevelopment options such as a new condo building, single family home(s), hotel/motel, commercial, mixed-use, retail stores, the list goes on.... Inquire for Land-Use Resources.
    Exterior Features

    Construction Materials Stick Built Garage YN No Location Type Downtown Lot Features Additional Lot(S) Parking Types Parking LotOn Street Property Condition Average Riparian Rights YN No View BayCityHarborMarinaScenic VistaStreet Water Access YN No Water Oriented YN No Water View YN Yes Waterfront YN No

    Interior Features

    Building Area Total 920.00 Cooling Window Unit(S) Heating None Net Square Feet 5840.00

    Property Features

    Acceptable Financing ConventionalCashOther Accessibility Features Other Assessment Year 2020 Association YN No Business Type Apartment BuildingBed And BreakfastConvenience Store/GasDay Care FacilityGarden CenterHotel/MotelHealth ClubParking LotProfessionalRecreationReligious FacilityRestaurant/BarSchoolShopping CenterSupermarket/Grocery StoreTheaterOther Central Air YN No Cooling Fuel Electric Heating Fuel None Hot Water Electric Incorporated City Name Ocean City Lease Considered YN No Navigable Water YN N New Construction YN No Number Of Units Total 6 Original MLSNumber 304218222311 Ownership Interest Fee Simple Possession 0-30 Days CdNegotiable Property Sub Type Five Or More Units Sale Type Standard Sewer Public Sewer Tax Annual Amount 520.00 Tax Assessment Amount 36800.00 Tax Lot 3 Total Actual Rent 90000.00 Transportation Airport Less Than 10 MilesBus Stop Less Than 1 Mile Vacation Rental YN No Water Source Public Zoning Dmx Zoning Description Mixed UsePedestrian-Oriented Area That Encourages Development & Redevelopment Characteristic Of The Oldest Part Of Ocean City.

    Listing courtesy of Coldwell Banker Realty.


    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Redux Group | Keller Williams. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-10-27T16:52:37.23.
     
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