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.
Sold for $1,060,000
$1,060,000
2 48th St Unit 703, Ocean City, MD 21842
3beds
1,790sqft
Condominium
Built in 2008
-- sqft lot
$1,108,300 Zestimate®
$592/sqft
$2,774 Estimated rent
Home value
$1,108,300
$1.01M - $1.22M
$2,774/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listed by:
Jonathan M Barker 410-935-3810,
Keller Williams Realty Delmarva,
Listing Team: The Fritschle Barker Group, Co-Listing Team: The Fritschle Barker Group,Co-Listing Agent: Grant K Fritschle 410-430-5880,
Keller Williams Realty Delmarva
Bought with:
Nicholas Bobenko, 595785
Coastal Life Realty Group LLC
Source: Bright MLS,MLS#: MDWO2020868
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
- Full bathrooms: 3
- Main level bathrooms: 3
- Main level bedrooms: 3
Basement
- Area: 0
Heating
- Central, Electric
Cooling
- Central Air, Electric
Appliances
- Included: Microwave, Dishwasher, Disposal, Dryer, Freezer, Oven/Range - Electric, Refrigerator, Washer, Electric Water Heater
- Laundry: Dryer In Unit, Washer In Unit, In Unit
Features
- Dry Wall
- Flooring: Carpet, Ceramic Tile
- Doors: Insulated, Sliding Glass
- Windows: Insulated Windows, Screens
- Has basement: No
- Has fireplace: No
- Common walls with other units/homes: 2+ Common Walls
Interior area
- Total structure area: 1,790
- Total interior livable area: 1,790 sqft
- Finished area above ground: 1,790
- Finished area below ground: 0
Property
Parking
- Total spaces: 2
- Parking features: Covered, Electric Vehicle Charging Station(s), Handicap Parking, Lighted, Driveway, Secured, Surface, Unassigned, Attached, Parking Lot
- Attached garage spaces: 2
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: None
Features
- Levels: One
- Stories: 1
- Exterior features: Lighting, Outdoor Shower, Sidewalks, Underground Lawn Sprinkler, Balcony
- Pool features: Community
- Has view: Yes
- View description: Bay, City, Ocean
- Has water view: Yes
- Water view: Bay,Ocean
- Waterfront features: Sandy Beach, Oceanblock, Ocean
- Body of water: Atlantic
- Frontage length: Water Frontage Ft: 20
Lot
- Features: Premium
Details
- Additional structures: Above Grade, Below Grade
- Parcel number: 2410764084
- Zoning: RESIDENTIAL
- Zoning description: Residential Condominium
- Special conditions: Standard
Construction
Type & style
- Home type: Condo
- Property subtype: Condominium
- Attached to another structure: Yes
Materials
- Concrete, Metal Siding
- Foundation: Pillar/Post/Pier
- Roof: Flat
Condition
- Excellent
- New construction: No
- Year built: 2008
Details
- Builder model: F
- Builder name: Bovis Lendlease
Utilities & green energy
- Electric: Circuit Breakers
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Available, Electricity Available, Cable
Community & HOA
Community
- Features: Pool
- Condo and coop fee: $922 monthly
- Subdivision: None Available
HOA
- Has HOA: No
- Amenities included: Common Grounds, Elevator(s), Fitness Center, Game Room, Meeting Room, Party Room, Indoor Pool, Pool
- Services included: Common Area Maintenance, Maintenance Structure, Health Club, Insurance, Management, Pool(s), Reserve Funds, Water
- HOA name: Gateway Grand
Location
- Region: Ocean City
- Municipality: Ocean City
Financial & listing details
- Price per square foot: $592/sqft
- Tax assessed value: $770,000
- Annual tax amount: $10,777
- Date on market: 5/10/2024
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional
- Inclusions: See Inventory Addendum
- Exclusions: See Inventory Addendum
- Ownership: Condominium
Price history
| Date | Event | Price |
|---|---|---|
| 11/15/2024 | Sold | $1,060,000-4.4%$592/sqft |
Source:  Bright MLS #MDWO2020868 Report a problem | ||
| 10/15/2024 | Contingent | $1,109,000$620/sqft |
Source: Bright MLS #MDWO2020868 Report a problem | ||
| 9/30/2024 | Price change | $1,109,000-0.9%$620/sqft |
Source: Bright MLS #MDWO2020868 Report a problem | ||
| 9/26/2024 | Price change | $1,119,000-0.9%$625/sqft |
Source: Bright MLS #MDWO2020868 Report a problem | ||
| 5/10/2024 | Listed for sale | $1,129,000-1.7%$631/sqft |
Source: Bright MLS #MDWO2020868 Report a problem | ||
| 5/10/2024 | Listing removed | -- |
Source: Bright MLS #MDWO2016920 Report a problem | ||
| 1/14/2024 | Price change | $1,149,000-2.5%$642/sqft |
Source: Bright MLS #MDWO2016920 Report a problem | ||
| 10/10/2023 | Listed for sale | $1,179,000+70.6%$659/sqft |
Source: Bright MLS #MDWO2016920 Report a problem | ||
| 5/28/2010 | Sold | $690,900$386/sqft |
Source: Agent Provided Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $12,278 +13.9% | $896,500 +16.4% |
| 2024 | $10,777 +18.8% | $770,000 +19.7% |
| 2023 | $9,071 | $643,500 |
| 2022 | $9,071 -0.2% | $643,500 |
| 2021 | $9,092 | $643,500 |
| 2020 | $9,092 -0.7% | $643,500 |
| 2019 | $9,154 +0.7% | $643,500 |
| 2018 | $9,090 +0% | $643,500 |
| 2017 | $9,086 +35.2% | $643,500 +2.2% |
| 2016 | $6,719 | $629,733 +2.2% |
| 2015 | $6,719 | $615,967 +2.3% |
| 2014 | $6,719 | $602,200 +2.4% |
| 2013 | -- | $588,100 +2.5% |
| 2012 | -- | $574,000 +2.5% |
| 2011 | -- | $559,900 -11.6% |
| 2010 | -- | $633,600 -25.1% |
| 2009 | -- | $845,700 |
Find assessor info on the county website
Neighborhood: Midtown
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Nearby schools
GreatSchools rating
- 10/10Ocean City Elementary SchoolGrades: PK-4Distance: 2.8 mi
- 10/10Stephen Decatur Middle SchoolGrades: 7-8Distance: 7.2 mi
- 7/10Stephen Decatur High SchoolGrades: 9-12Distance: 7 mi
Schools provided by the listing agent
- District: Worcester County Public Schools
Source: Bright MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Maryland
- Worcester County
- Ocean City
- 21842
- Midtown
- 2 48th St Unit 703
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