Real Estate Confidential is a bi-weekly chat about new listings, sales or other insider information on the Martha’s Vineyard Real Estate market, presented by Fred Roven, owner/broker of Martha’s Vineyard Buying Agents. It appears every other Friday in The minute.
It must be condominium season. There were several new listings of small condominiums and investment-type condominiums. All condominiums on the market right now that I used to consider purely for investment. How times have changed. In order to secure a place on Martha’s Vineyard, many buyers opt for a small condominium that can be used for several weeks by the owner (investor) without huge investor penalties. There are certainly rumors that this scenario which certainly favors the investor/owner could change to provide additional profits to the management groups, and it should be so.
There are currently six such units available in Edgartown and Oak Bluffs. All conveniently located in city centers and with many nearby options including beaches, restaurants and entertainment. One of the main reasons for owning a unit in a condo hotel is the ability to take advantage of summer vacations on Martha’s Vineyard, as well as an on-site management group to handle all of your tenants’ needs when you’re away. you’re not on the island.
The Island Inn is a five-acre property located on the northeast shore of Martha’s Vineyard, just one mile south of downtown Oak Bluffs. Here, bordering the Farm Neck Golf Club, you can follow Beach Rd. 800 yards south to reach Joseph Sylvia State Beach and walk up Seaview Ave. over 1,600 yards to sunbathe at Inkwell Beach in Oak Bluffs. Edgartown Commons is located just steps from Edgartown’s waterfront, shops and restaurants, and is the perfect hotel for your Martha’s Vineyard vacation. The studios and one and two bedroom apartments are excellent value for money and offer all the conveniences of home with a swimming pool, playground and picnic area with barbecue grills.
The Edgartown Commons vacation/rental condo at 20 Peases Point Way, Unit 7 stands out from many others. The unit was completely remodeled in 2021 with new granite counter tops, subway tile, stainless steel appliances, fresh paint, floors and furnishings with stylish beach house decor. Edgartown Commons is in the heart of historic Edgartown Village, near the harbour, Fuller Street and Lighthouse Beach, with many amenities including a swimming pool and patio, pool house with shower and coin laundry , BBQ/picnic areas, playground, WiFi, and A/C.
33 Island Inn Road, #F22 is the perfect way to own your place in the sun on Martha’s Vineyard. Think about freehold and the possibility of ending the season by taking advantage of vacation rentals when you are not in residence. This is laid-back lifestyle at its best which includes a swimming pool, 3 tennis courts, playground and communal grilling area. The location is only a 5 minute drive from the Oak Bluffs Ferry Terminal and is conveniently located near State Beach, the bus route, the bike path, and everything downtown Oak Bluffs has to offer.
The large 2 bedroom condo at 21 Island Inn Road, #33G has the added benefit of sleeping space for 6. Included are all the amenities listed above plus sandy beaches, fishing, bass fishing, clams and kayaking within walking distance. This unit has also had a facelift and includes hardwood floors and a fireplace in the family room. All rental and management services are managed by a nationally recognized company, taking all the hassle out of your vacation enjoyment and rental income. Be sure not to miss the on-site restaurant, Nomans, with its fun atmosphere, music, lawn games, indoor and outdoor bars, and great food. Enjoy a vacation on Martha’s Vineyard in a country club atmosphere with future appreciation and modest cash flow.
The end unit at 27 Island Inn Road, #2A overlooks the beautiful landscaped yard and heated pool. This is a one level 2 bedroom condo that has been lovingly remodeled. The newest is the new bathroom with a walk-in shower, stainless steel kitchen appliances and hardwood floors. Island Inn offers a take-your-dog option, which also increases demand as a dog-friendly rental. Enjoy world-class sunsets at the end of the day and a carefree lifestyle with perks: housekeeping, scenic grounds, barbecue areas with fire pits, children’s play area and of course that heated pool.
Visit mvbuyeragents.com/condos-for-sale for a list of condominiums currently available.
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