Real Estate Confidential: It must be condominium season

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Real Estate Confidential is a bi-weekly chit-chat about new listings, sales, or other insider info on the Martha’s Vineyard Real Estate market, presented by Fred Roven, owner/broker of Martha’s Vineyard Buyer Agents. It appears every other Friday in The Minute.

This must be condominium season. There have been multiple new listings of small investment-type condominiums and condo hotels. All the condominiums on the market right now I used to consider purely for investment. How times have changed. In order to secure a spot on Martha’s Vineyard, many buyers are opting for a small condominium that can be used for multiple weeks by the owner (investor) without huge investor penalties. There are certainly rumblings that this scenario that certainly favors the investor/owner might change to provide additional profit to the management groups, and so it should.

There are currently six such units available in Edgartown and Oak Bluffs. All conveniently located to town centers and with plenty of options close by, including beaches, restaurants, and entertainment. One of the primary reasons for owning a unit in a condo hotel is the opportunity to enjoy summer vacations on Martha’s Vineyard, plus an onsite management group to handle all your tenant needs when you are not on the Island.

The Island Inn is a five-acre property on the northeastern shores of Martha’s Vineyard, just one mile south of downtown Oak Bluffs. Here on the edge of the Farm Neck Golf Club, you can follow Beach Rd. half a mile south to reach Joseph Sylvia State Beach, and wander one mile up Seaview Ave. to sunbathe at Inkwell Beach in Oak Bluffs. Edgartown Commons is located a short walk 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 a great value, and they offer all the amenities of home with a pool, playground, and a picnic area complete with barbecue grills.

The Edgartown Commons vacation/rental condo at 20 Peases Point Way, Unit 7 stands out from many others. The unit was fully renovated in 2021 with new granite counters, subway tile, stainless steel appliances, fresh paint, floors, and furnishings with a stylish beach house decor. Edgartown Commons is in the historic heart of Edgartown Village near the harbor, Fuller St., and Lighthouse beach, with many amenities, including swimming pool and patio, pool house with shower and coin-op laundry, BBQ/picnic areas, playground, WiFi, and A/C.

33 Island Inn Road, #F22 is the perfect means to own your place in the sun on Martha’s Vineyard. Think about free ownership and the potential to end the season with a profit from vacation rentals when you are not in residence. This is casual resort-style living at its best that includes a pool, 3 tennis courts, playground, and shared grilling area. The location is only a 5-minute drive from the Oak Bluffs ferry terminal, and is conveniently located close to State Beach, the bus route, bike path, and all that downtown Oak Bluffs has to offer.

The large, 2-bedroom condo at 21 Island Inn Road, #33G has the advantage of a sleeping space for 6. Included are all the amenities noted above, plus sandy beaches, fishing, clamming, and kayaking all within a few minutes walk. This unit has also had a full makeover and includes wood floors and a fireplace in the family room. All of the rental and management services are handled by a nationally recognized company, taking out all the hassle from your vacation enjoyment and rental income. Be sure not to miss the onsite restaurant, Nomans, with its fun atmosphere, music, lawn games, indoor and outdoor bars, and excellent meals. Enjoy vacationing on Martha’s Vineyard in a country club atmosphere with future appreciation and a modest cash flow.

The end unit at 27 Island Inn Road, #2A overlooks the lovely, landscaped yard and heated pool area. This is a single-story, 2-bedroom condo that has been thoughtfully upgraded. Most recent is the new bathroom with a walk-in shower, stainless steel kitchen appliances, and hardwood floors. Island Inn offers an option to bring your dog along, which also increases demand as a dog-friendly rental. Enjoy world-class sunsets at the end of the day and a carefree lifestyle with benefits: housekeeping, picturesque grounds, BBQ areas along with fire pits, children’s playground, and of course that heated pool.

Visit mvbuyeragents.com/condos-for-sale for a list of condominiums currently available.

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