NOT LISTED FOR SALE

Gateway Grand 2 48th St Unit 314 Ocean City, MD 21842

Estimated Value: $976,000 - $1,130,000

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

Last Sold December 10, 2021

Last sale price $869,900 $486 Per Sq Ft

Est. 19% increase in value since last sale

Current estimated payment $7,199/month

3 Days on Market

Highlights

  • 20 Feet of Waterfront
  • Ocean View
  • Sandy Beach
  • Ocean City Elementary School Rated A
  • Access to Tidal Water
  • Fitness Center

About This Home

As of December 2021

You're not going to want to miss this impeccably cared for indirect-Oceanfront residence, located in Ocean City's premier oceanfront building . Located on the 3rd floor, this residence offers unobstructed and panoramic views from the ocean to the bay. The moment you enter through the front doors, the overwhelming and comforting feeling of 'home' washes over you. Lovingly cared for this three bedroom, three full-bath residence, provides plenty of room for all of your friends and family to spread out.
The Gateway Grand is Ocean City's most luxurious oceanfront building, offering heated indoor and outdoor pools, a state-of-the-art fitness center, on-site property management, game room, owners lounges, private oceanfront terrace, conditioned corridors, gated parking, owners storage lockers, and so much more. Make sure to schedule your private showing of this spectacular residence today.

Last Agent to Sell the Property

Grant Fritschle

Keller Williams Realty Delmarva License #RA0020779 Listed on: 10/11/2021

Keller Williams Realty Delmarva

Co-Listed By

Jonathan Barker

Keller Williams Realty Delmarva License #618143

Last Buyer's Agent

Terry Riley

Shore 4U Real Estate License #598416

Shore 4U Real Estate

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $8,288

Year Built

  • Built in 2008

Lot Details

  • 20 Feet of Waterfront
  • Sandy Beach
  • Sprinkler System

HOA Fees

  • $741 Monthly HOA Fees

Parking

  • 2 Car Attached Garage
  • Handicap Parking
  • Electric Vehicle Home Charger
  • Lighted Parking
  • Parking Lot
  • Surface Parking
  • Unassigned Parking
  • Secure Parking

Property Views

Home Design

  • Flat Roof Shape
  • Metal Siding

Interior Spaces

  • 1,790 Sq Ft Home
  • Property has 1 Level
  • Open Floorplan
  • Furnished
  • Crown Molding
  • Ceiling Fan
  • Recessed Lighting
  • Insulated Windows
  • Window Treatments
  • Window Screens
  • Sliding Doors
  • Insulated Doors
  • Dining Area

Kitchen

  • Electric Oven or Range
  • Built-In Microwave
  • Ice Maker
  • Dishwasher
  • Kitchen Island
  • Upgraded Countertops
  • Disposal

Flooring

  • Carpet
  • Ceramic Tile

Bedrooms and Bathrooms

  • 3 Main Level Bedrooms
  • En-Suite Bathroom
  • Walk-In Closet
  • 3 Full Bathrooms
  • Whirlpool Bathtub
  • Bathtub with Shower

Laundry

  • Laundry in unit
  • Dryer
  • Washer

Home Security

Outdoor Features

  • Outdoor Shower
  • Access to Tidal Water
  • Water Access
  • Oceanside
  • Balcony
  • Exterior Lighting

Utilities

  • Central Air
  • Heat Pump System
  • Electric Water Heater
  • Municipal Trash
  • Public Septic
  • Cable TV Available

Listing and Financial Details

  • Tax Lot 314
  • Assessor Parcel Number 2410763606

Community Details

Overview

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

Amenities

  • Common Area
  • Game Room
  • Meeting Room
  • Party Room
  • 5 Elevators

Recreation

Pet Policy

  • Limit on the number of pets
  • Dogs and Cats Allowed

Security

  • Fire Sprinkler System

Property Details

Home Type

Condominium

Est. Annual Taxes

$8,288

Year Built

Built in 2008

Lot Details

0

HOA Fees

$741 per month

Parking

2

Listing Details

  • Property Type: Residential
  • Structure Type: Unit/Flat/Apartment
  • Unit Building Type: Hi-Rise 9+ Floors
  • Architectural Style: Unit/Flat
  • Ownership: Condominium
  • Exclusions: See Inventory Addendum
  • Inclusions: Fully Furnished
  • New Construction: No
  • Story List: Main
  • Federal Flood Zone: No
  • Year Built: 2008
  • Automatically Close On Close Date: No
  • Building Winterized: No
  • Remarks Public: You're not going to want to miss this impeccably cared for indirect-Oceanfront residence, located in Ocean City's premier oceanfront building . Located on the 3rd floor, this residence offers unobstructed and panoramic views from the ocean to the bay. The moment you enter through the front doors, the overwhelming and comforting feeling of 'home' washes over you. Lovingly cared for this three bedroom, three full-bath residence, provides plenty of room for all of your friends and family to spread out. The Gateway Grand is Ocean City's most luxurious oceanfront building, offering heated indoor and outdoor pools, a state-of-the-art fitness center, on-site property management, game room, owners lounges, private oceanfront terrace, conditioned corridors, gated parking, owners storage lockers, and so much more. Make sure to schedule your private showing of this spectacular residence today.
  • Washer Dryer Hookups YN: Yes
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Appliances: Dishwasher, Disposal, Dryer, Icemaker, Built-In Microwave, Oven/Range - Electric, Refrigerator, Washer
  • Entry Floor: 3
  • Flooring Type: Carpet, Ceramic Tile
  • Interior Amenities: Carpet, Ceiling Fan(s), Combination Kitchen/Dining, Combination Dining/Living, Crown Moldings, Dining Area, Entry Level Bedroom, Flat, Floor Plan - Open, Kitchen - Island, Primary Bath(s), Recessed Lighting, Soaking Tub, Sprinkler System, Tub Shower, Upgraded Countertops, Walk-In Closet(s), Whirlpool/Hottub, Window Treatments
  • Window Features: Insulated, Screens
  • Fireplace: No
  • Door Features: Insulated, Sliding Glass
  • Elevators Count: 5
  • Wall Ceiling Types: Dry Wall
  • Floors In Unit Count: 1
  • Levels Count: 1
  • Basement: No
  • Laundry Type: Dryer In Unit, Washer In Unit
  • Total Sq Ft: 1790
  • Living Area Sq Ft: 1790
  • Price Per Sq Ft: 485.98
  • 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, Below Grade
  • Construction Materials: Concrete, Metal Siding
  • Exterior Features: Exterior Lighting, Outside Shower, Sidewalks, Underground Lawn Sprinkler
  • Roof: Flat
  • View: Bay, City, Ocean
  • Water Access: Yes
  • Water Body Name: Atlantic Ocean
  • Water Body Type: Ocean
  • Waterfront: Yes
  • Water Oriented: Yes
  • Pool: Yes - Community
  • Tidal Water: Yes
  • Water View: Yes
  • Water Frontage In Feet: 20

Garage/Parking

  • Garage Spaces: 2.00
  • Garage: Yes
  • Parking Features: Electric Vehicle Charging Station(s), Handicap Parking, Lighted Parking, Paved Driveway, Secure Parking, Surface, Unassigned
  • Garage Features: Covered Parking
  • Attached Garage Spaces: 2
  • Total Garage And Parking Spaces: 2
  • Type Of Parking: Attached Garage, Parking Lot

Utilities

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

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: Common Grounds, Elevator, Exercise Room, Fitness Center, Game Room, Meeting Room, Party Room, Pool - Indoor, Pool - Outdoor, Swimming Pool
  • HOA Condo Co-Op Fee Includes: Common Area Maintenance, Ext Bldg Maint, Health Club, Insurance, Management, Pool(s), Reserve Funds, Water
  • HOA Condo Co-Op Management Type: Professional - On-Site
  • HOA: No
  • Senior Community: No
  • Community Pool Features: In Ground, 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

Green Features

  • Clean Green Assessed: No

Lot Info

  • Land Use Code: 012
  • Lot Dimensions: 0.00 x 0.00
  • Outdoor Living Structures: Balcony
  • Year Assessed: 2021
  • Zoning: RESIDENTIAL CONDOMINIUM
  • Zoning Description: RESIDENTIAL CONDOMINIUM
  • In City Limits: Yes

Building Info

  • Builder Name: Bovis Lendlease

Rental Info

  • Furnished: Yes
  • Pets: Cats Ok, Dogs Ok, Number Limit
  • Pets Allowed: Yes
  • Vacation Rental: No
  • Property Manager: Yes

Tax Info

  • Assessor Parcel Number: 5836885
  • Tax Annual Amount: 8288.00
  • Assessor Parcel Number: 2410763606
  • Tax Lot: 314
  • Tax Total Finished Sq Ft: 1700
  • County Tax Payment Frequency: Annually
  • Tax Year: 2021
  • Close Date: 12/10/2021

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
Oct 11, 2021
Closed on
Dec 10, 2021
Sold by
Talwar Vikram S and Talwar Piya R
Bought by
Meola Michael A and Meola Valerie J
Seller's Agent
Grant Fritschle
Keller Williams Realty Delmarva
Buyer's Agent
Terry Riley
Shore 4U Real Estate
List Price
$869,900
Sold Price
$869,900
Current Estimated Value
$1,033,849

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$163,949
Avg. Annual Appreciation
4.46%
Original Mortgage
$608,000
Outstanding Balance
$564,773
Interest Rate
3.09%
Mortgage Type
New Conventional
Estimated Equity
$449,479

Purchase Details

Closed on
Jun 30, 2009
Sold by
Carlyle High Street Ocean City Lp
Bought by
Talwar Vikram S and Talwar Piya R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$417,000
Interest Rate
5.31%
Source: Public Records

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Range of Values:

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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
Meola Michael A $869,900 Ocean Investments Title Corp
Talwar Vikram S $559,900 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Meola Michael A $608,000
Closed Meola Michael A $608,000
Previous Owner Talwar Vikram S $323,000
Previous Owner Talwar Vikram S $416,000
Previous Owner Talwar Vikram S $417,000
Previous Owner Talwar Vikram S $417,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/10/2021 12/10/21 Sold $869,900 0.0% $486 / Sq Ft
10/14/2021 10/14/21 Pending -- -- --
10/11/2021 10/11/21 For Sale $869,900 -- $486 / 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
2024 $8,382 $600,667 $0 $0
2023 $8,243 $586,500 $410,500 $176,000
2022 $8,243 $586,500 $410,500 $176,000
2021 $8,288 $586,500 $410,500 $176,000
2020 $8,319 $586,500 $410,500 $176,000
2019 $8,344 $586,500 $410,500 $176,000
2018 $8,260 $586,500 $410,500 $176,000
2017 $8,635 $612,000 $0 $0
2016 -- $608,200 $0 $0
2015 $6,660 $604,400 $0 $0
2014 $6,660 $600,600 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Grant Fritschle

    Seller's Agent in 2021

    Grant Fritschle

    Keller Williams Realty Delmarva

    (410) 430-5880

    243 in this area

    367 Total Sales

    Grant Fritschle
    Section Image
  • Jonathan Barker

    Seller Co-Listing Agent in 2021

    Jonathan Barker

    Keller Williams Realty Delmarva

    (410) 935-3810

    138 in this area

    219 Total Sales

    Jonathan Barker
    Section Image

  • T

    Buyer's Agent in 2021

    Terry Riley

    Shore 4U Real Estate

    (443) 880-0512

    181 in this area

    222 Total Sales

    Terry Riley
    Section Image
See All Agents

About Gateway Grand

Map

Source: Bright MLS

MLS Number: MDWO2000031

Bright MLS

APN: 10-763606

Maryland Worcester County Ocean City 21842

2 48th St Unit 314, Ocean City, MD

This home is located at 2 48th St Unit 314, Ocean City, MD 21842 since 11 October 2021 and is currently estimated at $1,033,849, approximately $577 per square foot. This property was built in 2008. 2 48th St Unit 314 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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