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Gateway Grand - 2 48th Street Unit 703

Ocean City, MD 21842

3 beds
3 baths
1,790 sqft
$592 per sqft
2008 build

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Net 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.

Listing courtesy of BRIGHT / Keller Williams Realty Delmarva

Last checked: Checking… • Last updated Nov 15, 2024 •

MLS# MDWO2020868 —

The Building

Year Built:

2008
Year Built Source:

Assessor
Roof:

Flat
New Construction:

No
Construction Materials:

Concrete, Metal Siding
Builder Name:

Bovis Lendlease
Building Name:

Gateway Grand
Builder Model:

F
Building Levels:

17
Building Units Total:

1
Unit Building Type:

Hi-Rise 9+ Floors
Structure Type:

Unit/Flat/Apartment
Architectural Style:

Unit/Flat
Levels:

1
Elevators:

5
Main Entrance:

West
Entry Floor Number:

7
Door Features:

Insulated, Sliding Glass
Window Features:

Insulated, Screens
Accessibility Features:

None
Common Walls:

2+ Common Walls
Foundation Details:

Pillar/Post/Pier
Basement:

No
Unit Number:

703
Building Winterized:

No
Total SqFt Source:

Estimated
Total Below Grade SqFt Source:

Assessor
Above Grade Finished Area Units:

Square Feet
Above Grade Finished SqFt:

1790
Above Grade Finished SqFt Source:

Estimated
Below Grade Finished Area Units:

Square Feet
Below Grade Unfinished Area Units:

Square Feet
Below Grade Finished SqFt Source:

Assessor
Below Grade Unfinished SqFt Source:

Assessor
Tax Total Finished SqFt:

1650

Interior

Floors In Unit:

1
Flooring Type:

Carpet, Ceramic Tile
Fireplace:

No
Wall & Ceilings:

Dry Wall
Living Area SqFt Source:

Estimated

Room Dimensions

Total SqFt:

1790
Living Area SqFt:

1,790 Sqft

Financial & Terms

Sale Type:

Standard
Acceptable Financing:

Cash, Conventional
Buyer Financing:

Cash
Possession:

Settlement
Lease Considered:

No

Location

Directions:

Coastal Hwy South, Left on 48th Street, Building oceanfront on Left.
Latitude:

38.37384000
Longitude:

-75.06814000
Location Type:

Oceanblock

The Property

Property Type:

Residential
Property Condition:

Excellent
Lot Size Dimensions:

0.00 x 0.00
Lot Dimensions Source:

Assessor
Lot Features:

Premium
Inclusions:

See Inventory Addendum
Exclusions:

See Inventory Addendum
Federal Flood Zone:

X
Zoning:

RESIDENTIAL
Zoning Description:

Residential Condominium
View:

Bay, City, Ocean
In City Limits:

Yes
Outdoor Living Structures:

Balcony
Other Structures:

Above Grade, Below Grade
Horse:

No
Waterview:

Yes
Waterfront:

Yes
Waterfront Features:

Sandy Beach
Water Oriented:

Yes
Water Access:

No
Water Body Name:

Atlantic
Water Body Type:

Ocean
Navigable Water:

No
Water Frontage In Feet:

20
Tidal Water:

Yes
Land Use Code:

U
Ground Rent Exists:

No
Riparian Rights:

No

Listing Agent

Contact info:

Taxes

Tax ID Number:

2410764084
Tax Year:

2024
Tax Lot:

703
Tax Annual Amount:

$10,777
Tax Assessed Value:

$770,000
Year Assessed:

2024
County Tax:

6507.00
City/Town Tax:

3408.00
Total Taxes Payment Frequency:

Annually

Beds

Bedrooms:

3
Bedrooms Main Level:

3

Baths

Total Baths:

3
Full Baths:

3
Main Level Baths:

3.00
Main Level Full Baths:

3

The Listing

Close Sale Type:

Standard Sale

Heating & Cooling

Cooling Type:

Central A/C
Central Air:

Yes
Cooling Fuel:

Electric
Heating:

Yes
Heating Type:

Central
Heating Fuel:

Electric

Utilities

Utilities:

Cable TV Available, Electric Available
Sewer/Septic:

Public Sewer
Electric Service:

Circuit Breakers
Hot Water:

Electric
Water Source:

Public
Internet Services:

Cable

Appliances

Appliances:

Built-In Microwave, Dishwasher, Disposal, Dryer, Freezer, Oven/Range - Electric, Refrigerator, Washer
Laundry Type:

Dryer In Unit, Washer In Unit
Washer/Dryer/Hook Up in Unit:

Yes

Schools

School District Name:

Worcester County Public Schools
School District Source:

Listing Agent

The Community

Subdivision Name:

None Available
Senior Community:

No
Exterior Features:

Exterior Lighting, Outside Shower, Sidewalks, Underground Lawn Sprinkler
Pool:

Yes - Community
Community Pool Features:

Heated, Indoor, In Ground
HOA:

No
Condo/Coop Association:

Yes
HOA/Condo/Coop Amenities:

Common Grounds, Elevator, Exercise Room, Fitness Center, Game Room, Meeting Room, Party Room, Pool - Indoor, Pool - Outdoor, Swimming Pool
Condo/Coop Fee:

$922
Condo/Coop Fee Frequency:

Monthly
HOA/Condo/Coop Fee:

Common Area Maintenance, Ext Bldg Maint, Health Club, Insurance, Management, Pool(s), Reserve Funds, Water
Other Fees:

830.00
Municipal Trash:

Yes
Transportation:

Bus Stop less than 1 mile
Condo/Coop Name:

Gateway Grand

Parking

Total Garage and Parking Spaces:

2
Garage:

Yes
Garage Features:

Covered Parking
Garage Spaces:

2.00
Type of Parking:

Attached Garage, Parking Lot
Parking Features:

Electric Vehicle Charging Station(s), Handicap Parking, Lighted Parking, Paved Driveway, Secure Parking, Surface, Unassigned
# of Attached Garage Spaces:

2

Extra Units

Vacation Rental:

Yes

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Air Pollution Index

Provided by ClearlyEnergy

Utility Costs

$144/mo.

Estimate provided by ClearlyEnergy

View a full report

Sale history

Date	Event	Source	Price	% Change
11/15/24 Nov 15, 2024	Sold	BRIGHT	$1,060,000	-4.4%
10/14/24 Oct 14, 2024	Sold Subject To Contingencies	BRIGHT	$1,109,000
9/30/24 Sep 30, 2024	Price Changed	BRIGHT	$1,109,000	-0.9%

Condo Sold on 11/15/2024

$1,060,000

Listing provided by broker:

Jonathan M Barker

Keller Williams Realty Delmarva

lwbunting@comcast.net

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Listing Courtesy of: BRIGHT and Keller Williams Realty Delmarva.

The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. BRIGHT MLS and Estately assume no responsibility for typographical errors, misprints or misinformation. This property is offered without respect to any protected classes in accordance with the law. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller.

Gateway Grand - 2 48th Street Unit 703

Ocean City, MD 21842