Ocean One Condos

Verified Building Facts

• Building Name: Ocean One
• Address: 5605 Atlantic Avenue, Ocean City, MD 21842
• Location Type: Oceanfront
• Location Type: Mid-Town Ocean City
• Year Built: 1989
• Building Type: Low-rise
• Number of Units: 24
• Elevator Access: Yes
• Short Term Rentals: Yes

These facts are provided for informational purposes and should be independently verified during the purchase process.

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About Ocean One

Ocean One is a 4-story low-rise condominium building on Atlantic Avenue in Midtown Ocean City, with 24 units and a moderate mix of one-bedroom and three-bedroom layouts. Built in 1989, it reflects a smaller-scale oceanfront condo format with elevator access, private assigned parking, guest parking, and an outdoor pool. The building is professionally managed off-site by a local management company, and short-term rentals are permitted.

The building is generally suited to second-home buyers, part-time owners who may also rent their units, and buyers who prioritize an oceanfront location and water views over more extensive building features or newer interior finishes. Its location less than half a mile from the Route 90 bridge also makes access into and out of town relatively straightforward, while placing it in a central stretch of Ocean City with the Inlet and Boardwalk about 5 miles to the south and Fenwick Island about 5 miles to the north. Market activity has been low, with nothing having been offered for sale in the building in three years.

Amenities at Ocean One

Ocean One offers a focused set of essential on-site amenities in a direct oceanfront setting in Midtown Ocean City.

Amenities include:

• Outdoor pool
• Assigned parking
• Guest parking

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Floor Plans and Unit Types

Ocean One offers a balanced mix of floor plans suited to a range of buyer preferences.

Common unit types include:

• 1-Bedroom
• 3-Bedroom

Interior layouts, square footage, and finishes vary by unit, floor level, and ownership.

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Grant’s Local Insight on Ocean One

Ocean One is a 24-unit mid-rise oceanfront building on 56th Street, and it tends to fly under the radar.

The building has a quiet, tucked-away feel that appeals to buyers who want oceanfront living without the energy of a larger high-rise. Views are strong, and the overall atmosphere is surprisingly peaceful for its location. You’ll find predominantly 3-bedroom floorplans in the building. But be on the lookout in case a 03-stack ever gets listed. There are four of these in the building, and they’re enormous 1-bedroom condos.

One fun quirk you may notice when touring units here is that many feature entire living room walls covered in floor-to-ceiling mirrors. It was a trend at the time, and it always gets a reaction.

Ocean One is a good reminder that some of the best oceanfront experiences in Ocean City are found in buildings that don’t make a lot of noise. Simply pull your car into the parking area underneath and head upstairs to enjoy the views! When you find the right unit, this can be a very comfortable place to own.

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Who Ocean One Is Best Suited For

Ocean One is typically best suited for:

• Buyers prioritizing oceanfront or water views
• Couples or small households
• Families seeking space and amenities
• Second-home buyers
• Value-oriented buyers prioritizing location over finishes

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Common Buyer Mistakes at Ocean One

Some of the most common mistakes buyers make when evaluating Ocean One include:

• Underestimating traffic or seasonal congestion
• Not accounting for seasonal rental variability
• Assuming the building is quiet year-round

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Rental and Investment Potential

Ocean One allows short-term rentals, and the building has strong rental potential for owners who plan to use their condo part time and rent it out during the rest of the year. As with many seasonal beach properties, rental activity can vary, and buyers should account for the fact that results may differ from year to year.

Its direct oceanfront location in Midtown Ocean City, combined with core amenities like an outdoor pool and assigned parking, supports rental use in a practical way. At the same time, Ocean One has low building name recognition, and owners should not assume that an oceanfront setting and pool alone will place it in the highest rental tier without consistent repeat business and strong guest reviews over time.

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HOA Fees and Ownership Details

Homeowner association fees at Ocean One vary based on unit size and location. HOA fees generally contribute to building maintenance, amenity upkeep, insurance, management, and common area utilities.

Parking policies, pet rules, and rental guidelines should be reviewed during the contract process, as association policies may evolve over time.

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Ocean One Real Estate Market Trends

Ocean One tends to see low market activity, with buyer interest shaped primarily by its direct oceanfront location in Midtown Ocean City and its smaller low-rise format. Demand is generally tied to buyers looking for a 24-unit building with core amenities and a more modest building profile, while low name recognition can also influence how quickly interest develops.

Within the building, buyers typically focus on factors such as unit type, view orientation, and overall condition when comparing available condos. With a moderate range of floor plans that includes one-bedroom and three-bedroom layouts, evaluation often comes down to how well a particular unit’s size, layout, and finishes align with the buyer’s intended use rather than any single building-wide pricing pattern.

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Ocean One vs Nearby Condos

Ocean One typically gets cross-shopped with Sun Gate I and Mariner II because of similar oceanfront scale and two-bedroom layouts. Worcester House East enters when buyers are comparing mid-rise positioning and view angles. Oceanwalk competes more on north-end quiet. Ocean One tends to win with buyers who like a smaller building footprint and straightforward ownership. It’s low drama with good views. Pull in, park underneath, and you’re done.

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Buying or Selling a Ocean One Property

Last reviewed by Grant Fritschle

Grant Fritschle is a second-generation Ocean City, Maryland real estate professional with nearly three decades of experience specializing in oceanfront, waterfront, and investment properties throughout Ocean City, MD and Fenwick Island, DE. He is known for his deep local knowledge, data informed guidance, and long term client relationships built on transparency and trust.

Last reviewed: March 2026

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