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$1,199,000

Beds
4
Baths
3.0
sq ft
2,385

2 48th St Unit 201, Ocean City, MD 21842

2 48th St Unit 201

OCEAN CITY, MD 21842

  • 26 days on market
    • Price drop $51,000↓
This 2385 square foot 4 Bedroom 3 Bathroom Residence at the Gateway Grand is a must see! One of the most impressive parts of this condominium is the oversized living room, which is one of the largest in the building. The residence features two balconies, one of which is accessible from each bedroom and the very large living room. You will appreciate the southern exposure location which provides an abundance of natural light and warmth. Many upgrades were completed in 2021 and they are still shining 4 years later. The interior of the condominium was completely repainted to include the kitchen cabinets and island. New designer appliances were also installed along with a custom tile backsplash at this time. All TVs were upgraded along with the wall art and living room sectional sofa as well. The area rugs were updated and the dining room chairs were reupholstered. In the bedrooms all linens and comforters were replaced. The Gateway Grand is one of Ocean City's newest and most spectacular luxury condominium building featuring an abundance of amenities including a heated indoor and outdoor pool, state of the art fitness center, private owners lounges, on-site property management, on-site maintenance team, gated parking garage, kids club, and so much more. Ground floor deeded storage locker #39 conveys with residence. The property is currently owner occupied, but is easy to show with notice.

Details

Property type

Condominium

Est. home value

$1,245,234

Lot size

Unknown

Price per sq ft

$503

Year built

2008

Annual property taxes

$10,581

HOA

No

Price History

03/24/2025
Bright

Bright #MDWO2029134

Price change
$1,199,000
-4.08%
03/05/2025
Bright

Bright #MDWO2029134

Listed
$1,250,000
02/02/2024
BrightMLS

BrightMLS #MDWO2015778

Removed
$1,250,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Community features: 

Pool, Sidewalks

School district: 

WORCESTER COUNTY PUBLIC SCHOOLS

Seller’s Loan History

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

Lender

Wells Fargo Bank Na

Loan start date

June 2013

Original loan amount

$363,800

Est. remaining balance

Not provided

Interest rate

3.42%

Loan type

Stand Alone Second, 30 year

Seller

David A Tomey and Martha B Tomey

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 2:55 PM

Listing updated: 03/24/2025 at 12:31 PM

Listed by: Jonathan M Barker, Keller Williams Realty Delmarva Phone #: (410) 524-6400

MLS: Bright #MDWO2029134

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