Bayfront Multifamily Rental
112 / 114-A 75TH Street Ocean City, MD 21842
For Sale
$1,409,900
MULTI_FAMILY - Other - OCEAN CITY, MD
Property Size4,048 SF
Lot Size0.30 Acres
Price / SF$348.30
Days on Market126
Property Features for 112 / 114-A 75TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Dining Room, Family Room
Parking
13
Parking features
Driveway, On Street
Interior features
Additional Stairway, Attic, Bathroom - Walk-In Shower, Breakfast Area, Built-Ins, Ceiling Fan(s), Combination Dining/Living, Combination Kitchen/Dining, Family Room Off Kitchen, Floor Plan - Open, Kitchen - Island, Kitchen - Table Space, Primary Bedroom - Bay Front, Recessed Lighting, Upgraded Countertops
Appliances
Built-In Microwave, Built-In Range, Dishwasher, Disposal, Dryer, Microwave, Oven/Range - Electric, Refrigerator, Stainless Steel Appliances, Washer, WaterHeater
Standard status
Active
Size
4,048 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Annual Amount
8900
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water front features
Waterfront
Water front
1
Building Details
Year built
1985
Number of units
3
Building materials
Frame
Architectural style
Other
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty - OP
(410) 208-3500
Listed By:
Spike Sands · License #637504
(443) 235-0489
Added: Mar 27
Changed: Jul 6
Last Checked: Jul 30 at 6:06AM
MLS# MDWO2035604
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This bayfront, income-producing compound features three separate buildings on two parcels, delivering prominent Assawoman Bay views from each structure. The property includes one two-bedroom house, two three-bedroom units, and one four-bedroom unit, totaling twelve bedrooms and nine full bathrooms. Units are furnished in a coastal style and equipped with practical in-unit amenities including central air where applicable, laminate flooring, updated countertops, flat-screen televisions, refrigerators, and microwaves. The complex also includes a community washer and dryer, an outdoor shower, and on-site storage, plus a large driveway with thirteen off-street parking spaces.
Designed around waterfront living, the buildings sit on 75th Street in Ocean City, just blocks from the ocean, with direct bay access only steps away for paddleboarding or kayaking. With guests able to park once and walk to nearby midtown shops, restaurants, and the beach, the layout supports short-stay and vacation-oriented demand.
With substantial improvements including a new roof and new siding on two of the three buildings, raised foundations, and extensive interior renovations, this is a turnkey opportunity with reduced near-term capital needs. The flexible multi-building configuration makes it well suited for vacation rentals, multi-generational use, or a private waterfront retreat where multiple groups can stay together while maintaining their own space.
Designed around waterfront living, the buildings sit on 75th Street in Ocean City, just blocks from the ocean, with direct bay access only steps away for paddleboarding or kayaking. With guests able to park once and walk to nearby midtown shops, restaurants, and the beach, the layout supports short-stay and vacation-oriented demand.
With substantial improvements including a new roof and new siding on two of the three buildings, raised foundations, and extensive interior renovations, this is a turnkey opportunity with reduced near-term capital needs. The flexible multi-building configuration makes it well suited for vacation rentals, multi-generational use, or a private waterfront retreat where multiple groups can stay together while maintaining their own space.
Key Highlights
- Bayfront multi‑unit compound in Ocean City, MD overlooking Assawoman Bay with direct bay access steps away.
- 3 separate buildings on two parcels with unit mix: one 2‑bedroom house, two 3‑bedroom units, and one 4‑bedroom unit (12 total bedrooms, 9 full baths).
- Substantially improved with a new roof and new siding on two of the three buildings, plus raised foundations and extensive interior renovations.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $65.6k | $16.20 |
| − Vacancy | −$4.9k | −$1.22 |
| EGI | $60.7k | $14.99 |
| − OpEx | −$18.2k | −$4.50 |
| NOI | $42.5k | $10.49 |
4,048 SF · lease $16.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$606.6K
$530.8K – $707.7K
NOI $42,461 @ 7.0% cap · market cap 3.01%
Second Best
Apartment 5plus
$544.2K
$476.2K – $635.0K
NOI $38,097 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$972.8K
$851.2K – $1.13M
NOI $68,094 @ 7.0% cap · market cap 4.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Three-building waterfront income property with furnished units and thoughtful updates, offering strong flexibility for rental or retreat use.
Where is this triplex located?
The property is located at 112 / 114-A 75TH Street Ocean City, MD.
What is the asking price?
The asking price for this property is $1,409,900.
What are key features of this property?
This property features: Bayfront multi‑unit compound in Ocean City, MD overlooking Assawoman Bay with direct bay access steps away.; 3 separate buildings on two parcels with unit mix: one 2‑bedroom house, two 3‑bedroom units, and one 4‑bedroom unit (12 total bedrooms, 9 full baths).; Substantially improved with a new roof and new siding on two of the three buildings, plus raised foundations and extensive interior renovations.
