1 Olive Ave, Rehoboth Beach, 19971 $4,000,000

MLS Number: Desu2002070
List Price: $4,000,000
Bedrooms: 7
Full Baths: 5
Standard Status: Active
Waterfront: N
Building Name: None Available
Welcome to 1 Olive Avenue situated just steps from the beach, boardwalk and Rehoboth Avenue. Consisting of 3 units and producing approximately $100,000 per year in rental income, this is an ideal investment property and offers the potential for owner use at the same time. The penthouse unit (Unit C) includes 3 bedrooms, 2 baths, vaulted ceilings, exposed beams, a spacious gourmet kitchen, and an abundance of natural light. A large rooftop deck provides stunning ocean views and the perfect place to relax and unwind. Unit A offers 2 bedrooms, 2 updated baths, an open floor plan, kitchen with breakfast bar and ocean views from the balcony. Lastly, Unit B includes 2 bedrooms, 1 updated bath, galley kitchen, and living area. Additional building features include covered parking and a new elevator, accessible by all units. All 3 units have been recently renovated and are being sold fully furnished.

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Exterior Features

View: Ocean
Architectural Style: Contemporary, coastal
Construction Materials: Frame
Water Body Type: Ocean

Interior Features

Heating: Zoned, forced Air, heat Pump(s)
Heating Fuel: Electric
Cooling: Ceiling Fan(s), central A/c
Hot Water: Electric
Flooring: Hardwood
Appliances: Dryer, washer, disposal, dishwasher, oven/range - Electric, refrigerator, microwave
Interior Features: Ceiling Fan(s), floor Plan - Open, primary Bedroom - Ocean Front, wood Floors

Additional Details

Elementary School: Rehoboth
High School: Cape Henlopen
Middle School: Beacon
Square Footage: 3000
Acres: 0.09
Year Built: 1985
New Construction: N
Property Type: Residential
County: Sussex
Lot Size Dimensions: 41.00 X 102.00
SchoolDistrictName: Cape Henlopen
Sussex DE Quadrants: East Of Rt 1