Ocean Way Condominiums 500 Winston Salem Ave Unit 503 Virginia Beach, VA 23451
Oceanfront Neighborhood
3
Beds
3.5
Baths
3,036
Sq Ft
$1,600/mo
HOA Fee
Highlights
- Ocean Front
- Beach View
- Penthouse
- W.T. Cooke Elementary School Rated A-
- Fitness Center
- Clubhouse
About This Home
As of August 2024***INQUIRE ABOUT OWNER FINANCING*** Welcome to your private waterfront retreat where Luxury living and unparalleled views blend with sophistication and tranquility. Seamless integration of art/modern design and open concept layout fluidly connects the gourmet kitchen, dining area, and living room-with unobstructed views of the marina/inlet/ocean/Sunrise/Sunset. The kitchen combines style and functionality w/ SS appliances and counters, custom cabinetry, and spacious island provide the perfect setting for culinary creations. Retreat to one of two primary suites, where spa-inspired bathrooms provide both relaxation/functionality, while elevating the experience of luxury living. Building amenities include pool/fitness center/Sauna/parking garage/keyless entry/Community room. Indulge in the vibrant coastal lifestyle with coastal restaurants/boutiques/attractions just moments away. This oceanfront penthouse transcends the ordinary, offering a lifestyle both beach life and luxury. CALL TODAY
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $6,203
Year Built
- Built in 1985
Lot Details
- Ocean Front
- Lake Front
HOA Fees
- $1,600 Monthly HOA Fees
Parking
- 1 Car Parking Space
Home Design
- Penthouse
- Contemporary Architecture
- Stucco Exterior Insulation and Finish Systems
- Asphalt Shingled Roof
- Pile Dwellings
Interior Spaces
- 3,036 Sq Ft Home
- 2-Story Property
- Bar
- Cathedral Ceiling
- Ceiling Fan
- Skylights
- Entrance Foyer
- Home Office
- Loft
- Utility Closet
- Storage Room
- Beach Views
Kitchen
- Electric Range
- Dishwasher
- Disposal
Flooring
- Carpet
- Radiant Floor
- Marble
- Ceramic Tile
Bedrooms and Bathrooms
- 3 Bedrooms
- Primary Bedroom on Main
- En-Suite Primary Bedroom
- Walk-In Closet
- Hydromassage or Jetted Bathtub
Laundry
- Dryer
- Washer
Outdoor Features
- Balcony
Schools
- W.T. Cooke Elementary School
- Virginia Beach Middle School
- First Colonial High School
Utilities
- Central Air
- Heat Pump System
- Electric Water Heater
- Sewer Paid
- Cable TV Available
Community Details
Overview
- Brian Devost 757 428 5058 Association
- Ocean Way Condominium Subdivision
- On-Site Maintenance
Amenities
- Door to Door Trash Pickup
- Clubhouse
- Elevator
Recreation
- Fitness Center
- Community Pool
Security
- Security Service
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Closed on
Apr 24, 2025
Sold by
Donatelli Giovanni
Bought by
Giovanni Donatelli Revocable Trust and Donatelli
Total Days on Market
173
Current Estimated Value
Purchase Details
Listed on
Jan 25, 2024
Closed on
Aug 6, 2024
Sold by
Hyman J Dress Living Trust and Dress Hyman J
Bought by
Donatelli Giovanni
Seller's Agent
Michael Rowland
Rowland RE
Buyer's Agent
Justin McDaniel
AtCoastal Realty
List Price
$1,665,000
Sold Price
$1,810,000
Premium/Discount to List
$145,000
8.71%
Views
7347
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-3.81%
Original Mortgage
$1,810,000
Interest Rate
6.86%
Mortgage Type
Seller Take Back
Purchase Details
Closed on
Apr 3, 2003
Sold by
Hankins Timothy
Bought by
Dress Hyman
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$296,000
Interest Rate
5.88%
Mortgage Type
New Conventional
Similar Homes in Virginia Beach, VA
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | -- | None Listed On Document | |
| Bargain Sale Deed | $1,810,000 | Fidelity National Title | |
| Deed | $370,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $1,810,000 | Seller Take Back | |
| Previous Owner | $350,000 | Credit Line Revolving | |
| Previous Owner | $296,000 | New Conventional |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/06/2024 08/06/24 | Sold | $1,810,000 | +14.2% | $596 / Sq Ft |
| 07/16/2024 07/16/24 | Pending | -- | -- | -- |
| 04/30/2024 04/30/24 | Price Changed | $1,585,000 | -4.8% | $522 / Sq Ft |
| 01/25/2024 01/25/24 | For Sale | $1,665,000 | -- | $548 / Sq Ft |
Source: Real Estate Information Network (REIN)
Tax History Compared to Growth
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 | $7,329 | $755,600 | $115,300 | $640,300 |
| 2023 | $6,508 | $657,400 | $100,300 | $557,100 |
| 2022 | $6,203 | $626,600 | $95,600 | $531,000 |
| 2021 | $5,273 | $532,600 | $81,200 | $451,400 |
| 2020 | $5,419 | $532,600 | $81,200 | $451,400 |
| 2019 | $5,215 | $484,100 | $73,900 | $410,200 |
| 2018 | $4,853 | $484,100 | $73,900 | $410,200 |
| 2017 | $4,853 | $484,100 | $73,900 | $410,200 |
| 2016 | $4,653 | $470,000 | $71,700 | $398,300 |
| 2015 | $4,517 | $456,300 | $69,600 | $386,700 |
| 2014 | $4,326 | $418,700 | $63,900 | $354,800 |
Source: Public Records
Agents Affiliated with this Home
-
Michael Rowland
Seller's Agent in 2024
Michael Rowland
Rowland RE
(757) 343-2150
1 in this area
108 Total Sales
-
Justin McDaniel
Buyer's Agent in 2024
Justin McDaniel
AtCoastal Realty
(757) 944-0109
1 in this area
80 Total Sales
About Ocean Way Condominiums
Map
Source: Real Estate Information Network (REIN)
MLS Number: 10517426
APN: 2427-12-6287-8560
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