$1,850,000
$2M PRICE INCREASE

1004 Philadelphia Ave Ocean City, MD 21842

Estimated payment $10,468/month

Total Views 8,083
11 Beds
8 Baths
4,002 Sq Ft
$462 Price per Sq Ft

Highlights

  • Coastal Architecture
  • 1 Fireplace
  • No HOA
  • Ocean City Elementary School Rated A
  • Furnished
  • More Than Two Accessible Exits

About This Home

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 2022–2023, 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 unbeatable—just 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 you’re 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.

Listing Agent

Shawn Kotwica

(724) 840-0572 shawn.kotwica@cbmove.com Coldwell Banker Realty License #653192 Listed on: 09/17/2025

Coldwell Banker Realty

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $8,827

Year Built

  • Built in 1950 | Remodeled in 2022

Lot Details

  • 5,425 Sq Ft Lot
  • Back Yard Fenced
  • Property is in excellent condition
  • Property is zoned R-3A, Apartment Building

Home Design

  • Coastal Architecture
  • Contemporary Architecture
  • Entry on the 1st floor
  • Shingle Roof
  • Asphalt Roof
  • Stick Built Home

Interior Spaces

  • 4,002 Sq Ft Home
  • Property has 3 Levels
  • Furnished
  • 1 Fireplace
  • Laundry in unit

Flooring

  • Tile or Brick
  • Luxury Vinyl Tile

Bedrooms and Bathrooms

  • Walk-in Shower

Parking

  • On-Street Parking
  • Parking Lot
  • Surface Parking
  • Fenced Parking

Utilities

  • Window Unit Cooling System
  • Heating Available
  • Natural Gas Water Heater
  • Cable TV Available

Additional Features

  • More Than Two Accessible Exits
  • Flood Risk

Community Details

  • No Home Owners Association
  • Non Development Subdivision

Listing and Financial Details

  • Tax Lot 2
  • Assessor Parcel Number 2410035937

Home Details

Home Type

Single Family

Est. Annual Taxes

$8,827

Year Built

Built in 1950 | Remodeled in 2022

Lot Details

0

Listing Details

  • Property Type: Residential
  • Architectural Style: Contemporary, Coastal
  • Accessibility Features: 2+ Access Exits
  • Ownership: Fee Simple
  • Exclusions: Exclusions list will be provided upon request
  • New Construction: No
  • Story List: Main, Upper 1, Upper 2
  • Federal Flood Zone: Yes
  • Year Built: 1950
  • Year Renovated: 2022
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Entry Floor: 1
  • Flooring Type: Luxury Vinyl Tile, Tile/Brick
  • Interior Amenities: Bathroom - Walk-In Shower
  • Fireplaces Count: 1
  • Fireplace: Yes
  • Levels Count: 3
  • Basement: No
  • Laundry Type: Washer In Unit, Dryer In Unit
  • Total Sq Ft: 4002
  • Living Area Sq Ft: 4002
  • Price Per Sq Ft: 462.27
  • Above Grade Finished Sq Ft: 4002
  • Above Grade Finished Area Units: Square Feet

Beds/Baths

  • Bedrooms: 11
  • Main Level Bedrooms: 5
  • Total Bathrooms: 8
  • Full Bathrooms: 8
  • Main Level Bathrooms: 3.00
  • Upper Level Bathrooms: 5
  • Upper Level Bathrooms: 4.00
  • Upper Level 2 Bathrooms: 1.00
  • Main Level Full Bathrooms: 3

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Combination, Mixed Plumbing, Stick Built
  • Roof: Asphalt, Shingle
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No
  • Parking Features: Fenced, Surface
  • Type Of Parking: On Street, Parking Lot

Utilities

  • Central Air Conditioning: No
  • Cooling Fuel: Electric
  • Cooling Type: Window Unit(s)
  • Heating Fuel: Natural Gas, Electric
  • Heating: Yes
  • Hot Water: Natural Gas
  • Sewer/Septic System: Public Sewer
  • Utilities: Cable Tv Available, Electric Available, Natural Gas Available, Sewer Available, Water Available
  • Water Source: Public

Condo/Co-op/Association

  • Condo Co-Op Association: No
  • HOA: No
  • Senior Community: No
  • Association Recreation Fee: No

Schools

  • School District Source: Listing Agent

Lot Info

  • Fencing: Rear
  • Lot Size Acres: 0.12
  • Lot Dimensions: 0.00 x 0.00
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 5425.00
  • Property Condition: Excellent, Very Good
  • Zoning: R-3A
  • Zoning Description: Apartment Building
  • In City Limits: Yes

Rental Info

  • Furnished: Yes
  • Total Actual Rent: 170000.00
  • Vacation Rental: Yes
  • Property Manager: No

Tax Info

  • Tax Annual Amount: 8827.00
  • Assessor Parcel Number: 2410035937
  • Tax Lot: 2
  • Tax Year: 2025

Multi Family

  • Federal Flood Zone: AE

MLS Schools

  • School District Name: WORCESTER COUNTY PUBLIC SCHOOLS

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/17/2025 09/17/25 Price Changed $1,850,000 +900.0% $462 / Sq Ft
09/17/2025 09/17/25 For Sale $185,000 -- $46 / Sq Ft
Source: Bright MLS

Source: Bright MLS

MLS Number: MDWO2033400

Bright MLS

APN: 10-035937

Maryland Worcester County Ocean City 21842

1004 Philadelphia Ave, Ocean City, MD

For Sale

Detached

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Shawn Kotwica
Listing Agent
Shawn Kotwica
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Coldwell Banker Realty
(410) 834-0104