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$1,995,000
1487 Ocean Pearl Road, Corolla, NC 27927
18 Beds
12 Baths
10,200 sqft

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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. 25 weeks already booked in 2021. Rents this year at $269k due to the Covid19 scare killing the spring/early summer rents.
  • Price:
  • $1,995,000
  • Bedrooms:
  • 18
  • Full Baths:
  • 12
  • Half Baths:
  • 3
  • Square Footage:
  • 10,200
  • Acreage:
  • 1.96
  • Year Built:
  • 1996
  • Listing ID #:
  • 108996
  • Street Address:
  • 1487 Ocean Pearl Road
  • City:
  • Corolla
  • State:
  • North Carolina
  • Postal Code:
  • 27927
  • County:
  • Currituck
  • Community:
  • 4-Wheel Drive Area
  • Subdivision:
  • O'Neal Minor
  • Listing Status:
  • Active
  • Construction Description:
  • Frame, Wood
  • Exterior Features:
  • Vinyl
  • Flooring:
  • Carpet, Ceramic Tile, Plank
  • Foundation:
  • Piling, Slab
  • Interior Features:
  • 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
  • Style:
  • Contemporary, Coastal
  • Total Building Square Footage:
  • 10200
  • Type Of Roof:
  • Asphalt/Fiber Shingle
  • View:
  • Ocean, Park Serv/Preserve, Sound
  • Year Built:
  • 1996
  • Conforms To Zoning:
  • R
  • Federal Flood Zone:
  • Cobra, X
  • Lot Description:
  • Adj To Park Serv./Preserv, Beach Frontage, Corner, Irregular Terrain, Water Frontage
  • Lot Square Footage:
  • 85500
  • Road Type:
  • Unpaved
  • Section:
  • Na
  • Days On Market:
  • 228
  • Financing Options:
  • Cash, Conventional, Jumbo Loan
  • For Sale Or Lease?:
  • For Sale
  • Lease Terms:
  • Weekly
  • Property Taxes:
  • $6,192
  • Tax Year:
  • 2019
  • Garage Type:
  • 3 + Car
  • Parking Description:
  • Off Street, Paved
  • Pool:
  • Yes
  • Pool Description:
  • In Ground, Outdoor, Private Pool
  • Pool Type:
  • Private
  • Appliances:
  • 2nd Dishwasher, 2nd Refrigerator, Countertop Range, Dishwasher, Dryer, Freezer, Ice Machine, Microwave, Range/Oven, Refrigerator W/Ice Maker, Wall Oven, Washer, Wine Cooler
  • Cooling System:
  • Central, Heat Pump, Zoned
  • Existing Water:
  • Private, Well
  • Heating:
  • Central, Electric, Geo-Thermal, Zoned
  • Sewage Type:
  • Private Septic
  • Waterfront Description:
  • Oceanfront
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • Listing Provided By Cooper Hawk of Outer Banks Realty Group
  • OUTERBANKS

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