1487 Ocean Pearl Road Corolla, NC
$ 1,995,000
Property Attributes
  • MLS#108996
  • TypeSingle Family
  • CityCorolla
  • Area4-Wheel Drive Area
  • NeighborhoodONeal Minor
  • Zip27927
  • StyleCoastal,Contemporary
  • Year Built1996
  • Taxes6192
  • Price$ 1,995,000
  • Bedrooms18
  • Full Bathrooms12
  • Half Bathrooms3
  • Sqr Footage10200
  • Lot Size1.96 Acres
Listing Provided Courtesy Of:
Cooper Hawk @ Outer Banks Realty Group
Property Description

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.

Price History
4/13/2020 Listed $1,995,000

General Features

Appliances 2nd Dishwasher, 2nd Refrigerator, Countertop Range, Dishwasher, Dryer, Freezer, Ice Machine, Microwave, Range/Oven, Refrigerator w/Ice Maker, Wall Oven, Washer, Wine Cooler
Beds 18
Construction Frame, Wood
Cooling Central, Heat Pump, Zoned
Extras 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
Financing Options Cash, Conventional, Jumbo Loan
Flood Zone Cobra, X
Full Baths 12
Garage 3 + Car
Half Baths 3
Heating Central, Electric, Geo-Thermal, Zoned
Lease Terms Weekly
Listing Area 4-Wheel Drive Area
Ownership Owned More than 12 Months
Parking Off Street, Paved
Potential Short Sale No
Roof Asphalt/Fiber Shingle
Section NA
Status Active
Status Active
Style Coastal, Contemporary
Subdivision NC
Subdivision O'Neal Minor
Tax Year 2019
Taxes 6192.07
Type Single Family - Detached
View Ocean, Park Serv/Preserve, Sound
Water Private, Well
Waterfront Location Oceanfront
Year Built 1996
Zoning R

Interior Features

Floor Covering Carpet, Ceramic Tile, Plank
Furnishings Available Y/n Yes
Heated Living Area Sq Footage 10200
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
Optional Rooms Foyer, Game Room, Home Theater, Pantry

Exterior Features

Approx.lot Sqft 85500
Exterior Vinyl
Foundation Piling, Slab
Lot Description Adj to Park Serv./Preserv, Beach Frontage, Corner, Irregular Terrain, Water Frontage
Lot Faces (n,e,w,s) E
Pool (Y/N) Yes
Pool Type Private
Pool Y/N In Ground, Outdoor, Private Pool
Roads Unpaved


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 27927

AVG $1.29M
AVG $5,406
AVG 161
Year Built
AVG 2000

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