About 1004 Philadelphia Ave
A rare investment opportunity in the heart of Ocean City! This fully renovated 8-unit building is a proven cash cow, generating a minimum of $170,000 in gross rental income annually. Renovated from top to bottom in 2022–2023, and new roof in 2024, the property offers worry-free ownership with all new showers, kitchens, flooring, and modern finishes throughout. Currently operating as a successful short-term rental business, this property gives you options: live in one unit and let the others pay the bills, or manage off-site and maximize returns. With eight income-producing units, the flexibility and earning potential are unmatched. The location is unbeatable—just steps to the Ocean City boardwalk, sandy beaches, restaurants, shopping, and entertainment. Guests return year after year for the convenience and vibrant coastal lifestyle. Whether you’re looking to expand your portfolio, run a high-yield vacation rental business, or secure a unique property with both lifestyle and investment value, 1004 Philadelphia Avenue delivers.
Features of 1004 Philadelphia Ave
| MLS® # | MDWO2033400 |
|---|---|
| Price | $1,850,000 |
| Bedrooms | 11 |
| Bathrooms | 8.00 |
| Full Baths | 8 |
| Square Footage | 4,002 |
| Acres | 0.12 |
| Year Built | 1950 |
| Type | Residential |
| Sub-Type | Other |
| Style | Other, Contemporary, Coastal |
| Status | Active |
Community Information
| Address | 1004 Philadelphia Ave |
|---|---|
| Area | Ocean Block (82) |
| Subdivision | NON DEVELOPMENT |
| City | OCEAN CITY |
| County | WORCESTER-MD |
| State | MD |
| Municipality | Ocean City |
| Zip Code | 21842 |
Amenities
| Amenities | Bathroom - Walk-In Shower |
|---|---|
| Utilities | Cable TV Available, Electric Available, Natural Gas Available, Sewer Available, Water Available |
| Parking | Fenced, Surface |
| Is Waterfront | No |
Interior
| Heating | Other |
|---|---|
| Cooling | Window Unit(s) |
| Has Basement | No |
| Fireplace | Yes |
| # of Fireplaces | 1 |
| # of Stories | 3 |
| Stories | 3 |
Exterior
| Exterior | Combination |
|---|---|
| Exterior Features | Fenced-Rear |
| Roof | Asphalt, Shingle |
School Information
| District | WORCESTER COUNTY PUBLIC SCHOOLS |
|---|
Additional Information
| Date Listed | September 17th, 2025 |
|---|---|
| Days on Market | 31 |
| Zoning | R-3A |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Coldwell Banker Realty |
|---|---|
| Contact Info | 4438562211 |