tomo logo

$999,999

Beds
3
Baths
3.0
sq ft
1,790

2 48th St Unit 214, Ocean City, MD 21842

2 48th St Unit 214

OCEAN CITY, MD 21842

  • 102 days on market
    • Price drop $25,001↓
Price Improvement!!! Don’t miss your opportunity to own in The Gateway Grand. Step into a world of coastal luxury with this stunning 3-bedroom, 3-bathroom residence at The Gateway Grand, Ocean City's premier oceanfront condominium. Offering breathtaking ocean views from your private balcony, this home features an open and spacious floor plan with recently steam-cleaned carpets, and soaring 9-foot ceilings, complemented by crown molding in the dining area and master bedroom. The Gateway Grand is a luxurious building crafted to elevate your lifestyle. Experience unmatched comfort and convenience with indoor and outdoor pools, a resort-style fitness center with stunning Atlantic views, and a kid’s club room filled with video games and board games. The building also features climate-controlled beach storage, multiple owner’s lounges, and a dedicated team providing management, maintenance, and security for a seamless living experience. 214 includes access to two parking spaces in a gated garage, which now offers seven electric car chargers. Additionally, individual indoor storage areas for beach gear like chairs and umbrellas make it easy to enjoy the beach without the hassle. Convenient outdoor showers keep you fresh after a day by the water. Whether you're looking to relax or stay active, The Gateway Grand offers it all. Socialize at The Gateway Club Lounge, complete with a full bar and flat-panel TV. This fully furnished, coastal luxury unit offers great rental potential, making it the perfect investment for those seeking both a vacation home and income-generating property. Oceanfront living is truly grand at The Gateway Grand.

Details

Property type

Condominium

Est. home value

$1,007,087

Lot size

Unknown

Price per sq ft

$559

Year built

2008

Annual property taxes

$8,407

HOA

No

Price History

03/24/2025
Bright

Bright #MDWO2027534

Price change
$999,999
-2.44%
02/13/2025
Bright

Bright #MDWO2027534

Price change
$1,025,000
-14.51%
01/01/2025
Bright

Bright #MDWO2027534

Listed
$1,199,000
+29.62%

Schools & Community

Elementary school: 

OCEAN CITY

Middle school: 

STEPHEN DECATUR

High school: 

STEPHEN DECATUR

Community features: 

Pool

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

Churchill Mortgage Corp

Loan start date

September 2023

Original loan amount

$806,250

Est. remaining balance

$793,650

Interest rate

6.96%

Loan type

New Conventional, 30 year

Seller

Rachel Ricker Lukens and Michael Francis Lukens

Lender

First Savings Mortgage Corp

Loan start date

May 2023

Original loan amount

$665,000

Est. remaining balance

$0

Interest rate

6.42%

Loan type

New Conventional, 0 year

Seller

Rachel Ricker Lukens and Michael Francis Lukens

Lender

First Savings Mortgage Corp

Loan start date

April 2022

Original loan amount

$555,000

Est. remaining balance

Not provided

Interest rate

6.12%

Loan type

New Conventional, 30 year

Seller

Michael Francis Lukens and Rachel Ricker Lukens

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: 04/02/2025 at 1:25 AM

Listing updated: 03/25/2025 at 9:41 PM

Listed by: Anna Spann, Coldwell Banker Realty Phone #: (443) 856-2211

MLS: Bright #MDWO2027534

Bright logo

Recently listed in OCEAN CITY