206 Somerset St Unit 4Ocean City, MD, 21842

Added 1 day ago
$949,000
12 Beds
6 Baths
5,840 SqFt
$162/SqFt
House
Schools Nearby

Trend Report

Listing Prices for All Homes in Ocean City

This Home

$949K

$12.8K$2.9M

The Median List Price for All homes in Ocean City is $334K

Based on homes listed in the last 12 months

See Full Trend Report

Facts and Features

Home Type
Single Family Residence
Year Built
1930
Heating
Fuel: None, Water Heater: Other,Electric, None
Cooling
Fuel: Electric, Central Air: N, Window Unit(s)
MLS #
MDWO115388

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.

Interior Features

Baths Full: 6
Air Conditioning: Fuel: Electric, Central Air: N, Window Unit(s)

Exterior Features

Additional Water Features: Tidal Water?: N, Water view?: Y
Building: NONE AVAILABLE
Directions: From Rt 50 Bridge at Division St, Drive South on Philadelphia Ave to Somerset St. Turn Right on Somerset St. 202,206, 208 Somerset St is on the right across from White Marlin Condos/Marina.
Disability: Other
Exterior Features: Street Lights, Other
Lot: Additional Lot(s), Premium, Subdivision Possible, Other
Outbuildings: Above Grade, Below Grade
Parking: Dirt Driveway, Gravel Driveway, Driveway, On Street, Off Street, Parking Lot
Property View: Bay, City, Harbor, Marina, Scenic Vista, Street, Water
Waterfront Type: Tidal Water?: N, Water view?: Y
Year Built: 1930

Utilities

Heat: Fuel: None, Water Heater: Other,Electric, None
Sewer: Public Sewer
Utilities: Other
Water: Public

Property History

May 15, 2017
Home Sold
$634,000

Tax History

YearProp. TaxesAssessment
2019-$36,800
2018$519$36,800
2017$519$36,800
2016$524$36,800
2015$497$36,800

Other

Listing Office: Coldwell Banker Residential-120
Listing Agent: Michael Nolen
Originating MLS: BRIGHT
MLS Number: MDWO115388
New Construction: No
Zoning: Mixed use, pedestrian-oriented area that encourages development & redevelopment characteristic of the oldest part of Ocean City.
Added to Rocket Homes 1 day ago
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  1. Rocket Homes
  2. Maryland
  3. Worcester County
  4. Ocean City
  5. 206 Somerset St Unit 4

This home is located at 206 Somerset St Unit 4 in Ocean City, MD and zip code 21842. This 5,840 square foot home, which was built in 1930, sits on a 5,000 square foot lot. Features: 12 bedrooms, 6 bathrooms. It has been listed on Rocket Homes since July 22, 2020 and is currently priced at $949,000. The neighbors living near this home have an average income of $55,076.

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