Jim Terrill
RE/MAX One
(302) 248-3797
97 Total Sales
26 in Ocean City
$140K - $1.3M Price Range
Gateway Grand 2 48th St Unit 703 Ocean City, MD 21842
Ocean City AreaEstimated Value: $1,171,333
3
Beds
3
Baths
1,790
Sq Ft
2008
Built
Highlights
- 20 Feet of Waterfront
- Access to Tidal Water
- Fitness Center
- Ocean View
- Sandy Beach
- Building is oceanfront but unit may not have water views
About This Home
As of November 2024Net Rental Income in 2024 was $50,527.36! The Gateway Grand #703 - A Luxurious Oceanfront Residence Nestled high above the surrounding properties, on the 7th floor of The Gateway Grand, #703 is a meticulously maintained 3-bedroom residence that epitomizes luxury living in Ocean City. This exquisite property boasts a spacious and open floorplan, providing an inviting ambiance and an abundance of natural light. One of its most striking features is the breathtaking southern-exposure panoramic views that grace this home. From its private balcony, residents and guests can revel in stunning vistas of the city skyline, the serene ocean, and the tranquil bay, making every moment a visual delight. Sunrise to Sunset this residence provides some of the most captivating views in the city. This residence has been lovingly cared for, with attention to detail evident in every corner. The living spaces are thoughtfully designed, offering both comfort and elegance. Whether you're enjoying a meal in the gourmet kitchen, lounging in the living room, or retiring to one of the three cozy bedrooms, you'll be enveloped in luxury. The Gateway Grand itself is Ocean City's pinnacle of oceanfront living. With its impeccable amenities and prime location, it offers residents a lifestyle of convenience and sophistication. From the elegant lobby to the direct beach access, the heated indoor pool, or the state-of-art fitness center, every aspect of this building is designed to cater to the desires of discerning homeowners. In summary, The Gateway Grand #703 is not just a residence; it's a sanctuary where you can indulge in the finest coastal living. Whether you're captivated by the ocean's waves, the city's charm, or the bay's tranquility, this property presents a unique opportunity to savor it all in one stunning package. Deeded mezzanine storage locker 143 conveys with residence. Buyer to honor any booked rentals for 2024.
Last Agent to Sell the Property
(410) 524-6400 lwbunting@comcast.net Keller Williams Realty Delmarva License #618143 Listed on: 05/10/2024
Co-Listed By
(410) 524-6400 lwbunting@comcast.net Keller Williams Realty Delmarva License #RA0020779
Last Buyer's Agent
(443) 552-7579 joe@coastallifeoc.com Coastal Life Realty Group LLC
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Property Details
Home Type
- Condominium
Est. Annual Taxes
- $10,777
Year Built
- Built in 2008
Lot Details
- Building is oceanfront but unit may not have water views
- 20 Feet of Waterfront
- Sandy Beach
- Two or More Common Walls
- West Facing Home
- Sprinkler System
- Property is in excellent condition
HOA Fees
- $922 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
- Entry on the 7th floor
- Flat Roof Shape
- Pillar, Post or Pier Foundation
- Metal Siding
Interior Spaces
- 1,790 Sq Ft Home
- Property has 1 Level
- Furnished
- Insulated Windows
- Window Screens
- Sliding Doors
- Insulated Doors
Kitchen
- Electric Oven or Range
- Built-In Microwave
- Freezer
- Dishwasher
- Disposal
Flooring
- Carpet
- Ceramic Tile
Bedrooms and Bathrooms
- 3 Main Level Bedrooms
- 3 Full Bathrooms
Laundry
- Laundry in unit
- Dryer
- Washer
Outdoor Features
- Outdoor Shower
- Access to Tidal Water
- Water Oriented
- 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
- Property is used as a vacation rental
- Tax Lot 703
- Assessor Parcel Number 2410764084
Community Details
Overview
- $2,766 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 Community
- Gateway Grand Condos
- 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
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
May 10, 2024
Closed on
Nov 15, 2024
Sold by
Bought by
Seller's Agent
Jonathan Barker
Keller Williams Realty Delmarva
Buyer's Agent
Nicholas Bobenko
Coastal Life Realty Group LLC
List Price
$1,129,000
Sold Price
$1,060,000
Premium/Discount to List
-$69,000
-6.11%
Views
121
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$111,333
Avg. Annual Appreciation
5.98%
Purchase Details
Closed on
Jun 1, 2010
Sold by
Bought by
Home Values in the Area
Average Home Value in this Area
Agents Specializing in Ocean City, MD
-
Jim Terrill
-
Brent Jackson
Brent Jackson
TTR Sotheby's International Realty
(855) 918-0477
222 Total Sales
1 in Ocean City
$245,000 Price
-
Sarah Rosenblit
Sarah Rosenblit
Coldwell Banker Realty
(410) 339-8343
44 Total Sales
26 in Ocean City
$218K - $1.9M Price Range
-
Debra Zyskowski
Debra Zyskowski
RLAH Real Estate
(610) 665-3946
62 Total Sales
5 in Ocean City
$290K - $484K Price Range
-
Kate Lewis
Kate Lewis
Keller Williams Realty
(302) 240-1173
68 Total Sales
1 in Ocean City
$1,675,000 Price
-
Tim Arnett
Tim Arnett
ERA Martin Associates
(667) 303-1431
131 Total Sales
4 in Ocean City
$30K - $350K Price Range
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $1,060,000 | Resort Land Title | ||
| $690,900 | -- |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/15/2024 11/15/24 | Sold | $1,060,000 | -4.4% | $592 / Sq Ft |
| 09/30/2024 09/30/24 | Price Changed | $1,109,000 | -0.9% | $620 / Sq Ft |
| 09/26/2024 09/26/24 | Price Changed | $1,119,000 | -0.9% | $625 / Sq Ft |
| 05/10/2024 05/10/24 | For Sale | $1,129,000 | -- | $631 / Sq Ft |
Source: Bright MLS
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 |
|---|---|---|---|---|
| 2026 | $12,242 | $1,023,000 | $716,100 | $306,900 |
| 2025 | $12,242 | $896,500 | $0 | $0 |
| 2024 | $10,744 | $770,000 | $0 | $0 |
| 2023 | $9,071 | $643,500 | $450,400 | $193,100 |
| 2022 | $9,044 | $643,500 | $450,400 | $193,100 |
| 2021 | $9,093 | $643,500 | $450,400 | $193,100 |
| 2020 | $9,092 | $643,500 | $450,400 | $193,100 |
| 2019 | $9,154 | $643,500 | $450,400 | $193,100 |
| 2018 | $9,063 | $643,500 | $450,400 | $193,100 |
| 2017 | $9,090 | $643,500 | $0 | $0 |
| 2016 | -- | $629,733 | $0 | $0 |
| 2015 | $6,719 | $615,967 | $0 | $0 |
| 2014 | $6,719 | $602,200 | $0 | $0 |
Source: Public Records
Agents Affiliated with this Home
-
Jonathan Barker
Seller's Agent in 2024
Jonathan Barker
Keller Williams Realty Delmarva
(410) 935-3810
172 Total Sales
-
Grant Fritschle
Seller Co-Listing Agent in 2024
Grant Fritschle
Keller Williams Realty Delmarva
(410) 430-5880
304 Total Sales
-
Nicholas Bobenko
Buyer's Agent in 2024
Nicholas Bobenko
Coastal Life Realty Group LLC
(443) 614-9179
171 Total Sales
About Gateway Grand
Map
Source: Bright MLS
MLS Number: MDWO2020868
APN: 10-764084
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