Rare opportunity to own a versatile five-unit property in the heart of downtown Ocean City, Maryland, just one block from the famous Ocean City Boardwalk and beach! Located at 503 Baltimore Avenue, this charming coastal property offers incredible potential as a multi-unit investment property or the opportunity to convert the building into a spacious single-family beach home. The building currently consists of five individual units, offering a variety of layouts to accommodate different needs. Unit #1 features 3 bedrooms, Unit #2 offers 2 bedrooms, Unit #3 is an efficiency, Unit #4 features 1 bedroom, and Unit #5 offers 2 bedrooms. The property showcases classic beach cottage charm, with hardwood flooring, inviting living spaces, coastal-inspired interiors, and beautiful knotty pine finishes in select areas. A spacious covered front porch provides the perfect setting to relax and enjoy the coastal atmosphere, while the fenced front yard adds additional outdoor space. With its flexible layout, this property presents an excellent opportunity for investors looking to maintain multiple rental units or buyers envisioning a large single-family coastal retreat. Situated in a prime downtown location, just one block from the Boardwalk and beach and close to Ocean City's popular restaurants, shopping, and entertainment, the possibilities are endless. Please note: This sale includes ONLY the front building at 503 Baltimore Avenue. A land condominium is currently being established so that the front and back buildings can be sold separately. Both buildings available for sale as a package for interested buyers. Whether you're looking to expand your investment portfolio or create your own spacious beach getaway, this unique downtown Ocean City property offers location, versatility, and tremendous potential!