Skip To Content
    Return to Previous Page

    1487 Ocean Pearl Road , Lot

    Corolla, NC 27927
    • $1,995,000
    • STATUS: Active
    • ON SITE: 164 days
    • MLS #: 108996
    UPDATED: 42 min ago
    $1,995,000
    • 18
      BEDS
    • 1.96
      ACRES
    • 12
      BATHS
    • 3
      1/2 BATHS
    • 10,200
      SQFT
    • $196
      $/SQFT
    Neighborhood:
    Type:
    Single-Family Home
    Built:
    1996
    County:

    School Ratings & Info

    Description

    You can live the dream in this oceanfront estate. Views of the Atlantic Ocean and the Currituck Sound where the wild horses roam. Perched on a highly elevated corner of Penny's Hill-the second largest sand dune in North Carolina. It is only accessible by four wheel drive vehicles. Pennys Hill is the ideal destination for those looking to escape. There are no paved roads, no restaurants, gas stations or stores so come prepared! Currently used as an investment by seller, it is primarily rented as an event home(weddings/corporate outings) and rents in the past have grossed $347k/season. Sold fully furnished, its a turnkey investment. Actual past return on investment ranges from 15-17% Prepared to sleep 36 people, it contains everything needed to host an event. Inside is a large gourmet kitchen, with a huge pantry that has 2 additional refrigerators, 4 ovens, wine cooler, commercial icemaker and steamer, 18 bedrooms, movie theatre, billiard/rec room/bar, laundry room, utility room with water conditioning systems, lots of entertaining spaces, player piano, and 1000sf wedding suite with private deck overlooking the ocean, oversized shower with 9 shower-heads. Outside is a private pool with wet bar, hot tub and poolside cabana, two outside showers, two outside toilets, and a huge 1800 sun deck/dance floor/outside dining area. This area has permanent stakes installed for a 30'x50' tent. Well maintained, with recent maintenance to include new fortified roof in May 2020, siding, flashing, and paint. 7 weeks already booked in 2021. Rents this year will hit $250k range due to the Covid19 scare killing the spring/early summer rents.

    Monthly Payment Calculator



    © 2020 Outer Banks Association of Realtors MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Matt Myatt | Keller Williams. Data last updated: 2020-09-25T21:37:37.593.
    www.mattmyatt.com/homes/104996918
    Print Image

    1487 Ocean Pearl Road , Lot Corolla, NC 27927

    • Price: $1,995,000
    • Status: Active
    • Updated: 42 min ago
    • MLS #: 108996
    18
    Beds
    12
    Baths
    3
    ½ Baths
    1.96
    Acres
    10,200
    SQFT
    $196
    $/SQFT
    1996
    Built
    Neighborhood:
    O'neal Minor
    County:
    Currituck
    Area:
    4-Wheel Drive Area
    Property Description
    You can live the dream in this oceanfront estate. Views of the Atlantic Ocean and the Currituck Sound where the wild horses roam. Perched on a highly elevated corner of Penny's Hill-the second largest sand dune in North Carolina. It is only accessible by four wheel drive vehicles. Pennys Hill is the ideal destination for those looking to escape. There are no paved roads, no restaurants, gas stations or stores so come prepared! Currently used as an investment by seller, it is primarily rented as an event home(weddings/corporate outings) and rents in the past have grossed $347k/season. Sold fully furnished, its a turnkey investment. Actual past return on investment ranges from 15-17% Prepared to sleep 36 people, it contains everything needed to host an event. Inside is a large gourmet kitchen, with a huge pantry that has 2 additional refrigerators, 4 ovens, wine cooler, commercial icemaker and steamer, 18 bedrooms, movie theatre, billiard/rec room/bar, laundry room, utility room with water conditioning systems, lots of entertaining spaces, player piano, and 1000sf wedding suite with private deck overlooking the ocean, oversized shower with 9 shower-heads. Outside is a private pool with wet bar, hot tub and poolside cabana, two outside showers, two outside toilets, and a huge 1800 sun deck/dance floor/outside dining area. This area has permanent stakes installed for a 30'x50' tent. Well maintained, with recent maintenance to include new fortified roof in May 2020, siding, flashing, and paint. 7 weeks already booked in 2021. Rents this year will hit $250k range due to the Covid19 scare killing the spring/early summer rents.
    Exterior Features

    Construction FrameWood Exterior Vinyl Extras Beach AccessCeiling Fan(S)Covered DecksHot TubIntercomJet TubOutside LightingOutside ShowerPatioSmoke Detector(S)Sun DeckWater FilterWater SoftenerWhirlpool/SpaTiki BarInside Laundry Room Foundation PilingSlab Garage 3 + Car Lot Description Adj To Park Serv./PreservBeach FrontageCornerIrregular TerrainWater Frontage Lot Faces E Lot Size Dimensions 90X950 Parking Off StreetPaved Pool In GroundOutdoorPrivate Pool Pool YN Yes Roads Unpaved Roof Asphalt/Fiber Shingle Style CoastalContemporary View Description OceanPark Serv/PreserveSound Waterfront Location Oceanfront

    Interior Features

    Air Conditioning CentralHeat PumpZoned Appliances 2nd Dishwasher2Nd RefrigeratorCountertop RangeDishwasherDryerFreezerIce MachineMicrowaveRange/OvenRefrigerator W/Ice MakerWall OvenWasherWine Cooler Counter Tops Granite Floor Coverings CarpetCeramic TilePlank Furnishings Available YN Yes Heating CentralElectricGeo-ThermalZoned Interior Features 9' CeilingsAll Window TreatmentsCathedral Ceiling(S)Dryer ConnectionGas ConnectionGas FireplaceIce Maker ConnectionMaster BathPantryWalk in ClosetWasher ConnectionWet Bar Optional Rooms FoyerGame RoomHome TheaterPantry

    Property Features

    Annual Rental Income 347525 Association Fee YN No Bank Owned YN No Estimated Annual Fee 0 Financing Options CashConventionalJumbo Loan Flood Zone CobraX Insurance Expenses 5872 Lease Terms Weekly Possession At ClosingSubject To Tenancy Potential Short Sale No Primary Residence YN No Rental Cottage Name The Dream Rental Performance 0.1742 Residential Type Single Family - Detached Sewer Septic Private Septic Tax Year 2019 Taxes 6192.07 Water PrivateWell Yearly Cable Tv Expense 3336 Yearly Electric Expense 9829 Zoning R

    Listing courtesy of Cooper Hawk of Outer Banks Realty Group.


    © 2020 Outer Banks Association of Realtors MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Matt Myatt | Keller Williams. Data last updated: 2020-09-25T21:37:37.593.
     
    https://bt-photos.global.ssl.fastly.net/obxmls/orig_boomver_1_108996-2.jpg https://bt-photos.global.ssl.fastly.net/obxmls/orig_boomver_1_108996-2.jpg https://bt-photos.global.ssl.fastly.net/obxmls/orig_boomver_1_108996-2.jpg
    Logo
    Matt Myatt | Keller Williams
    5595 N. Croatan Highway
    Southern Shores NC, 27949