NOT LISTED FOR SALE

Gateway Grand 2 48th St Unit 1405 Ocean City, MD 21842

Estimated Value: $1,275,986 - $1,316,000

3 Beds
3 Baths
1,790 Sq Ft
$741/mo HOA Fee

Last Sold January 31, 2022

Last sale price $1,000,000 $559 Per Sq Ft

Est. 30% increase in value since last sale

Current estimated payment $8,656/month

Highlights

  • 20 Feet of Waterfront
  • Ocean View
  • Private Beach Club
  • Ocean City Elementary School Rated A
  • Sandy Beach
  • Fitness Center

About This Home

As of January 2022

Breathtaking View from this luxurious 3 bedrooms, 3 full bath condo and prestigious building/unit ** The Gateway Grand ** in Ocean City.
As you enter this beautiful residence with so many upgrades and a fantastic floor plan great for entertaining. The well-appointed kitchen offer center island with wine cooler, custom Italian back splash tiles. Under counter light. Granite counter. Tiles flooring. Open floor plan to a large dining room and living room with Ocean View and 10 FT slider to the balcony. Large principal suite with a stunning view of the ocean and the bay through large windows and slider to balcony. Stunning luxury bath, large tub and huge custom shower, double sink.
The Gateway Grand building offers owners year-round enjoyment with a heated indoor and outdoor pool, state-of-the-art fitness center, kids-club, owners lounges, on-site property management, deeded storage lockers, private parking garage with electric car charges, conditioned corridors. Minutes from the sand dunes and the beautiful beach and Restaurants and so much more.

Last Agent to Sell the Property

Daniel Chanteloup

(410) 353-6638 daniel.chanteloup@longandfoster.com Beach Real Estate Inc Listed on: 01/05/2022

Beach Real Estate Inc

Last Buyer's Agent

Grant Fritschle

(410) 430-5880 grant@markf.com Keller Williams Realty Delmarva License #RA0020779

Keller Williams Realty Delmarva

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $10,725

Year Built

  • Built in 2008

Lot Details

  • 20 Feet of Waterfront
  • Home fronts navigable water
  • Sandy Beach
  • Public Beach
  • East Facing Home
  • Sprinkler System
  • Property is in excellent condition

HOA Fees

  • $741 Monthly HOA Fees

Property Views

Home Design

  • Entry on the 14th floor
  • Pillar, Post or Pier Foundation
  • Built-Up Roof
  • Modular or Manufactured Materials
  • Masonry

Interior Spaces

  • 1,790 Sq Ft Home
  • Property has 1 Level
  • Furnished
  • Ceiling Fan
  • Insulated Windows
  • Window Screens
  • Family Room
  • Dining Room

Kitchen

  • Electric Oven or Range
  • Microwave
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 3 Main Level Bedrooms
  • En-Suite Primary Bedroom
  • Walk-In Closet
  • 3 Full Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Home Security

Parking

  • Handicap Parking
  • 2 Off-Street Spaces
  • Electric Vehicle Home Charger
  • Lighted Parking
  • Unassigned Parking

Accessible Home Design

  • Accessible Elevator Installed

Outdoor Features

  • Outdoor Shower
  • Water Access
  • Oceanside
  • Swimming Allowed
  • Balcony

Utilities

  • Central Heating and Cooling System
  • Heat Pump System
  • Electric Water Heater
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 0001
  • Assessor Parcel Number 2410764955

Community Details

Overview

  • $200 Elevator Use Fee
  • $2,230 Capital Contribution Fee
  • Association fees include common area maintenance, exterior building maintenance, management, pool(s), water
  • $80 Other One-Time Fees
  • High-Rise Condominium
  • Gateway Grand Condos, Phone Number (410) 723-9545
  • Built by Gateway Grand
  • Gateway Grand Community
  • Property Manager

Amenities

  • Common Area
  • Community Center
  • Meeting Room
  • Party Room
  • 5 Elevators

Recreation

  • Private Beach Club

Pet Policy

  • Pets allowed on a case-by-case basis

Security

  • Security Service
  • Fire Sprinkler System

Property Details

Home Type

Condominium

Est. Annual Taxes

$10,725

Year Built

Built in 2008

Lot Details

0

HOA Fees

$741 per month

Listing Details

  • Property Type: Residential
  • Structure Type: Unit/Flat/Apartment
  • Unit Building Type: Hi-Rise 9+ Floors
  • Architectural Style: Unit/Flat
  • Accessibility Features: Elevator
  • Ownership: Condominium
  • Home Warranty: No
  • New Construction: No
  • Story List: Main
  • Federal Flood Zone: No
  • Year Built: 2008
  • Automatically Close On Close Date: No
  • Remarks Public: Breathtaking View from this luxurious 3 bedrooms, 3 full bath condo and prestigious building/unit ** The Gateway Grand ** in Ocean City. As you enter this beautiful residence with so many upgrades and a fantastic floor plan great for entertaining. The well-appointed kitchen offer center island with wine cooler, custom Italian back splash tiles. Under counter light. Granite counter. Tiles flooring. Open floor plan to a large dining room and living room with Ocean View and 10 FT slider to the balcony. Large principal suite with a stunning view of the ocean and the bay through large windows and slider to balcony. Stunning luxury bath, large tub and huge custom shower, double sink. The Gateway Grand building offers owners year-round enjoyment with a heated indoor and outdoor pool, state-of-the-art fitness center, kids-club, owners lounges, on-site property management, deeded storage lockers, private parking garage with electric car charges, conditioned corridors. Minutes from the sand dunes and the beautiful beach and Restaurants and so much more.
  • Washer Dryer Hookups YN: Yes
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Appliances: Dishwasher, Disposal, Dryer, Microwave, Oven/Range - Electric, Refrigerator, Washer
  • Entry Floor: 14
  • Interior Amenities: Ceiling Fan(s), Elevator, Sprinkler System, Walk-In Closet(s)
  • Window Features: Insulated, Screens
  • Fireplace: No
  • Elevators Count: 5
  • Foundation Details: Pillar/Post/Pier
  • Levels Count: 1
  • Room List: Dining Room, Primary Bedroom, Bedroom 2, Kitchen, Family Room, Laundry, Bathroom 3
  • Basement: No
  • Laundry Type: Has Laundry, Washer In Unit, Dryer In Unit
  • Total Sq Ft: 1790
  • Living Area Sq Ft: 1790
  • Price Per Sq Ft: 558.52
  • Above Grade Finished Sq Ft: 1790
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 2

Beds/Baths

  • Bedrooms: 3
  • Main Level Bedrooms: 3
  • Total Bathrooms: 3
  • Full Bathrooms: 3
  • Main Level Bathrooms: 3.00
  • Main Level Full Bathrooms: 3

Exterior Features

  • Other Structures: Above Grade
  • Construction Materials: Masonry, Modular/Manufactured
  • Exterior Features: Outside Shower
  • Roof: Built-Up
  • View: Ocean, Water, Bay
  • Water Access Features: Public Beach, Swimming Allowed
  • Water Access: Yes
  • Water Body Name: Atlantic Ocean
  • Water Body Type: Ocean
  • Waterfront: Yes
  • Water Oriented: Yes
  • Pool: Yes - Community
  • Water View: Yes
  • Water Frontage In Feet: 20

Garage/Parking

  • Garage: No
  • Parking Features: Electric Vehicle Charging Station(s), Handicap Parking, Lighted Parking, Asphalt Driveway, Concrete Driveway, Unassigned
  • Total Garage And Parking Spaces: 2
  • Type Of Parking: Off Street
  • Off Street Parking Spaces: 2

Utilities

  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Central A/C
  • Heating Fuel: Central, Electric
  • Heating Type: Heat Pump(s)
  • Heating: Yes
  • Hot Water: Electric
  • Security: Sprinkler System - Indoor
  • Sewer/Septic System: Public Sewer
  • Utilities: Cable Tv, Phone Available, Water Available, Sewer Available
  • Water Source: Public

Condo/Co-op/Association

  • Condo Co-Op Association: Yes
  • Condo Co-Op Fee: 741.00
  • Condo Co-Op Fee Frequency: Monthly
  • Condo Co-Op Name: Gateway Grand
  • Condo Co-Op Phone: (410) 723-9545
  • Elevator Use Fee: 200.00
  • HOA Condo Co-Op Amenities: Beach Club, Security, Common Grounds, Community Center, Elevator, Fitness Center, Meeting Room, Party Room, Swimming Pool
  • HOA Condo Co-Op Fee Includes: Common Area Maintenance, Ext Bldg Maint, Management, Pool(s), Water
  • HOA Condo Co-Op Management Type: Professional - On-Site
  • HOA: No
  • Senior Community: No
  • Community Pool Features: Indoor

Fee Information

  • Other Fees: 80.00
  • Other Fees Frequency: One Time
  • Capital Contribution Fee: 2230.00

Schools

  • School District: WORCESTER COUNTY PUBLIC SCHOOLS
  • School District Key: 121138066543
  • School District Source: Listing Agent

Lot Info

  • Outdoor Living Structures: Balcony
  • Property Condition: Excellent
  • Year Assessed: 2021
  • Zoning: RESIDENTIAL CONDOMINIUM
  • Zoning Description: residential condominium
  • In City Limits: No

Building Info

  • Builder Name: Gateway Grand

Rental Info

  • Furnished: Yes
  • Pets: Case By Case Basis
  • Pets Allowed: Yes
  • Vacation Rental: No
  • Property Manager: Yes

Tax Info

  • Assessor Parcel Number: 5837009
  • Tax Annual Amount: 10725.00
  • Assessor Parcel Number: 2410764955
  • Tax Lot: 0001
  • County Tax Payment Frequency: Annually
  • Tax Year: 2021
  • Close Date: 01/31/2022

Multi Family

  • Waterfront Features: Sandy Beach

MLS Schools

  • School District Name: WORCESTER COUNTY PUBLIC SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 5, 2022
Closed on
Jan 31, 2022
Sold by
Paul Shepard
Bought by
Benz Frank
Seller's Agent
Daniel Chanteloup
Beach Real Estate Inc
Buyer's Agent
Grant Fritschle
Keller Williams Realty Delmarva
List Price
$999,755
Sold Price
$1,000,000
Premium/Discount to List
$245
0.02%
Current Estimated Value
$1,298,995

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$298,995
Avg. Annual Appreciation
7.42%

Purchase Details

Closed on
Mar 3, 2020
Sold by
Andrew Thomas Nicholas and Andrew Jean E
Bought by
Shepard Paul

Purchase Details

Closed on
Aug 2, 2018
Sold by
Andrew Jean E
Bought by
Andrew Jean E and The Jean E Andrew Trust

Purchase Details

Closed on
May 28, 2009
Sold by
Carlyle High Street Ocean City Lp
Bought by
Andrew Jean E
Source: Public Records

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Benz Frank $1,000,000 None Listed On Document
Shepard Paul -- None Available
Andrew Jean E -- None Available
Andrew Jean E $679,900 --
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/31/2022 01/31/22 Sold $1,000,000 0.0% $559 / Sq Ft
01/07/2022 01/07/22 Pending -- -- --
01/06/2022 01/06/22 Price Changed $999,755 0.0% $559 / Sq Ft
01/06/2022 01/06/22 For Sale $999,755 0.0% $559 / Sq Ft
01/05/2022 01/05/22 Off Market $1,000,000 -- --
01/05/2022 01/05/22 For Sale $874,755 -- $489 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $12,663 $1,056,000 $0 $0
2024 $12,663 $907,500 $0 $0
2023 $10,667 $759,000 $531,300 $227,700
2022 $10,667 $759,000 $531,300 $227,700
2021 $10,725 $759,000 $531,300 $227,700
2020 $10,757 $759,000 $531,300 $227,700
2019 $10,789 $758,433 $0 $0
2018 $10,674 $757,867 $0 $0
2017 $10,017 $757,300 $0 $0
2016 -- $705,600 $0 $0
2015 $7,603 $653,900 $0 $0
2014 $7,603 $602,200 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Daniel Chanteloup

    Seller's Agent in 2022

    Daniel Chanteloup

    Beach Real Estate Inc

    (410) 353-6638

    2 in this area

    146 Total Sales

    Daniel Chanteloup
    Section Image
  • Grant Fritschle

    Buyer's Agent in 2022

    Grant Fritschle

    Keller Williams Realty Delmarva

    (410) 430-5880

    229 in this area

    339 Total Sales

    Grant Fritschle
    Section Image
See All Agents

About Gateway Grand

Map

Source: Bright MLS

MLS Number: MDWO2003692

Bright MLS

APN: 10-764955

Maryland Worcester County Ocean City 21842

2 48th St Unit 1405, Ocean City, MD

This home is located at 2 48th St Unit 1405, Ocean City, MD 21842 since 05 January 2022 and is currently estimated at $1,298,995, approximately $725 per square foot. This property was built in 2008. 2 48th St Unit 1405 is a home located in Worcester County with nearby schools including Ocean City Elementary School, Stephen Decatur Middle School, and Berlin Intermediate School.

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