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$440,000

Beds
2
Baths
2.0
sq ft
930

17 70th St Unit 25, Ocean City, MD 21842

17 70th St Unit 25

OCEAN CITY, MD 21842

  • 33 days on market
This beautiful Ocean Block condo at Summer Palace offers everything you could dream of for a beachside retreat. The spacious 2-bedroom, 2-full-bath unit boasts a welcoming layout, featuring a large kitchen, a separate dining area, and an expansive living room perfect for relaxing or entertaining. Step outside onto the oversized balcony, where you can take in views of both the ocean and the bay. Located in the desirable mid-town Ocean City area, this condo enjoys a prime spot with a lower-density beach, providing a more peaceful atmosphere while still being just a short walk from numerous restaurants and shops. It offers convenient access to Route 90, making it easy to avoid traffic when heading to and from the property. Summer Palace is a well-maintained masonry building that has been recently painted and comes with 2 assigned parking spaces. This unit is an ideal opportunity for a family vacation home or a rental property by the beach. Ready for a new owner, this condo promises a relaxing coastal lifestyle in the heart of Ocean City.

Details

Property type

Condominium

Est. home value

$401,024

Lot size

Unknown

Price per sq ft

$474

Year built

1982

Annual property taxes

$3,645

HOA

No

Price History

02/26/2025
Bright

Bright #MDWO2028946

Listed
$440,000
+25.71%
08/05/2022
Bright

Bright #MDWO2008116

Sold
$350,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

School district: 

WORCESTER COUNTY PUBLIC SCHOOLS

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$151,388
Asking price
$440,000
Closing costs (~8% of asking)
-$35,200
Est. remaining loan balance
-$253,412
Cash to seller
$151,388

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Embrace Home Loans Inc

Loan start date

August 2022

Original loan amount

$262,500

Est. remaining balance

$253,412

Interest rate

5.78%

Loan type

New Conventional, 30 year

Seller

Hovsep A Hovsepian and Neveir N Hovsepian

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 03/31/2025 at 3:05 PM

Listing updated: 03/27/2025 at 1:31 PM

Listed by: Anthony Golden, Berkshire Hathaway HomeServices PenFed Realty Phone #: (410) 524-7000

MLS: Bright #MDWO2028946

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