1487 Ocean Pearl Road, #lot

Corolla, NC 27927

MLS ID# 108996 Active
Single Family - Detached


18 beds
12/0/3 baths
10200 sqft

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Details for 1487 Ocean Pearl Road, #lot, Corolla NC 27927

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. Penny’s 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.

Features and Details

  • Category Residential
  • Type Single Family - Detached
  • Subdivision
  • County Currituck
  • Lot Size 90x950
  • Lot Size 85500 SqFt
  • MLS ID# 108996
  • Year Built 1996
  • MLS Area 4-Wheel Drive Area
  • Beds Total 18
  • Baths Total 15
  • Baths Full 12
  • Baths Half 3
  • Living Area 10200 sqft

Outdoor, In Ground, Private Pool
Waterfront Location
Rental Income
Estimated Annual: 347525, 2017 Owner: 312851, 2017 Advertised Income: 333430
Countertop Range, Dishwasher, Dryer, Freezer, Ice Machine, Microwave, Range/Oven, Refrigerator w/Ice Maker, Wall Oven, Washer, 2nd Dishwasher, 2nd Refrigerator, Wine Cooler
Frame, Wood, Vinyl, Piling, Slab, Asphalt/Fiber Shingle
Central, Heat Pump, Zoned
Central, Electric, Geo-Thermal, Zoned
Counter Tops
Carpet, Ceramic Tile, Plank
3 + Car, Paved, Off Street
Lot Description
Adj to Park Serv./Preserv, Beach Frontage, Corner, Irregular Terrain, Water Frontage
9' Ceilings, All Window Treatments, Cathedral Ceiling(s), Dryer Connection, Gas Connection, Gas Fireplace, Ice Maker Connection, Master Bath, Pantry, Walk in Closet, Washer Connection, Wet Bar
Contemporary, Coastal
Ocean, Park Serv/Preserve, Sound
Optional Rooms
Foyer, Game Room, Pantry, Home Theater
Beach Access, Ceiling Fan(s), Covered Decks, Hot Tub, Intercom, Jet Tub, Outside Lighting, Outside Shower, Patio, Smoke Detector(s), Sun Deck, Water Filter, Water Softener, Whirlpool/Spa, Tiki Bar, Inside Laundry Room

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This listing was last updated on 7/6/2020 5:03:48 PM.