Gateway Grand 2 48th St Unit 402 Ocean City, MD 21842
Estimated payment $7,766/month
Total Views
32,257
3
Beds
3
Baths
1,790
Sq Ft
$614
Price per Sq Ft
Highlights
- Ocean View
- Water Access
- Building is oceanfront but unit may not have water views
- Ocean City Elementary School Rated A
- Fitness Center
- Open Floorplan
About This Home
Fantastic opportunity to own in the luxurious Gateway Grand complex in Ocean City, MD. This 3 bedroom 3 bath residence has been recently upgraded with fresh wall paint and a custom tile backsplash. The A-style floorplan offers guest privacy with each bedroom having an attached bathroom. The primary bedroom accesses the outdoor balcony and features ocean views. Step out onto the balcony each morning to watch the everchanging sunrise over the Atlantic Ocean. The Gateway Grand is an amenity rich building offering heating indoor and outdoor pools, a 24/7 fitness center, a kid's club room with video games and board games, conditioned beach storage, multiple owner's lounges, on-site management, on-site maintenance, and on-site security in the evenings. Residence 402 has access to two parking spaces in the controlled access parking garage, which now features 7 electric car chargers. The Gateway Grand will allow you to relax and enjoy your time at the beach without a care or worry. Deeded storage locker #185 conveys with this residence. This residence was in the rental program with Central Reservations and grossed nearly $47,000 in 2022 and $43,500 in 2023 and $49,044.24 in 2024. Some weeks were blocked in 2023 for owner use and it could produce more income if so desired by the new owners. Buyers to honor 2025 rentals.
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $10,084
Year Built
- Built in 2008
Lot Details
- Building is oceanfront but unit may not have water views
- Two or More Common Walls
- West Facing Home
- Sprinkler System
- Property is in excellent condition
HOA Fees
- $949 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
- Pillar, Post or Pier Foundation
- 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
- Freezer
- Dishwasher
- 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
- Water Access
- Property is near an ocean
- Balcony
- Exterior Lighting
Location
- Flood Risk
Utilities
- Central Heating and Cooling System
- Electric Water Heater
- Municipal Trash
- Cable TV Available
Listing and Financial Details
- Tax Lot 402
- Assessor Parcel Number 2410763630
Community Details
Overview
- $2,847 Capital Contribution Fee
- Association fees include common area maintenance, exterior building maintenance, health club, insurance, management, pool(s), reserve funds, water
- $830 Other One-Time Fees
- High-Rise Condominium
- Gateway Grand Condos
- Built by Bovis Lendlease
- Gateway Grand Community
- Property Manager
Amenities
- Common Area
- Game Room
- Meeting Room
- Party Room
- 5 Elevators
Recreation
- Heated Community Pool
Pet Policy
- Limit on the number of pets
- Dogs and Cats Allowed
Security
- Front Desk in Lobby
- Fire Sprinkler System
Map
About Gateway Grand
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Home Values in the Area
Average Home Value in this Area
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 | $10,053 | $838,733 | $0 | $0 |
| 2024 | $10,053 | $720,467 | $0 | $0 |
| 2023 | $8,489 | $602,200 | $421,500 | $180,700 |
| 2022 | $8,463 | $602,200 | $421,500 | $180,700 |
| 2021 | $8,510 | $602,200 | $421,500 | $180,700 |
| 2020 | $8,508 | $602,200 | $421,500 | $180,700 |
| 2019 | $8,567 | $602,200 | $421,500 | $180,700 |
| 2018 | $8,482 | $602,200 | $421,500 | $180,700 |
| 2017 | $8,507 | $602,200 | $0 | $0 |
| 2016 | -- | $602,200 | $0 | $0 |
| 2015 | $6,719 | $602,200 | $0 | $0 |
| 2014 | $6,719 | $602,200 | $0 | $0 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 10/20/2024 10/20/24 | For Sale | $1,099,000 | -- | $614 / Sq Ft |
Source: Bright MLS
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $599,900 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $366,000 | New Conventional | |
| Closed | $366,000 | New Conventional | |
| Closed | $417,000 | New Conventional | |
| Closed | $417,000 | New Conventional |
Source: Public Records
Similar Homes in Ocean City, MD
Source: Bright MLS
MLS Number: MDWO2026410
APN: 10-763630
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