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$4,000,000
1 Olive Ave, Rehoboth Beach, DE 19971
7 Beds
5 Baths
3,000 sqft

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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.
  • Price:
  • $4,000,000
  • Bedrooms:
  • 7
  • Full Baths:
  • 5
  • Square Footage:
  • 3,000
  • Acreage:
  • 0.09
  • Year Built:
  • 1985
  • Listing ID #:
  • DESU2002070
  • Street Address:
  • 1 Olive Ave
  • City:
  • Rehoboth Beach
  • State:
  • Delaware
  • Postal Code:
  • 19971
  • County:
  • Sussex
  • Community:
  • Lewes Rehoboth Hundred (31009)
  • Subdivision:
  • North Rehoboth
  • Listing Status:
  • Active
  • Listing Type:
  • Residential
School District: Cape Henlopen
5
out of 5

Rehoboth Elementary School
Public
School Grade Level K-5
School Students 476 students
School Teachers 14 student/
teacher
4
out of 5

Beacon Middle School
Public
School Grade Level 6-8
School Students 700 students
School Teachers 14 student/
teacher
3
out of 5

Cape Henlopen High School
Public
School Grade Level 9-12
School Students 1581 students
School Teachers 15 student/
teacher
  • Dwelling Type:
  • Detached
  • Ease Of Access:
  • Elevator
  • Finished Above Ground Square Footage:
  • 3000
  • Finished Square Feet:
  • 3000
  • Flooring:
  • Hardwood
  • Furnished:
  • Yes
  • Interior Features:
  • Ceiling Fan(s), Floor Plan - Open, Primary Bedroom - Ocean Front, Wood Floors
  • Other Buildings:
  • Above Grade, Below Grade
  • Square Footage Source:
  • Estimated
  • Stories:
  • 2
  • Style:
  • Contemporary, Coastal
  • Total Building Square Footage:
  • 3000
  • View:
  • Ocean
  • Year Built:
  • 1985
  • Year Built Source:
  • Estimated
  • Approximate Lot Size Range Source:
  • Assessor
  • Conforms To Zoning:
  • Tn
  • Federal Flood Zone:
  • Ve-14
  • Lot Description:
  • 41.00 X 102.00
  • Lot Square Footage:
  • 3920.00
  • Days On Market:
  • 89
  • On Market Date:
  • 2021-07-21
  • Originating Mls:
  • Bright
  • Special Conditions Of Sale:
  • Standard
  • Terms:
  • Cash, Conventional
  • Building Name:
  • None Available
  • District:
  • East Of Rt 1
  • In City Limits:
  • Yes
  • Location Description:
  • Oceanfront
  • Subdivision:
  • North Rehoboth
  • City Taxes:
  • 785.00
  • County Taxes:
  • 366.00
  • Price Per Square Foot:
  • 1333.33
  • Property Taxes:
  • $4,662
  • Tax Year:
  • 2021
  • Full Bathrooms On Main Level:
  • 3.00
  • Full Bathrooms On Upper Level:
  • 2
  • Parking Spaces:
  • 6
  • Parking Type:
  • Off Street
  • Pool Description:
  • No Pool
  • Appliances:
  • Dryer, Washer, Disposal, Dishwasher, Oven/Range - Electric, Refrigerator, Microwave
  • Cooling Fuel:
  • Electric
  • Cooling System:
  • Ceiling Fan(s), Central A/C
  • Existing Water:
  • Public
  • Heating:
  • Zoned, Forced Air, Heat Pump(s)
  • Heating Fuel:
  • Electric
  • Sewage Type:
  • Public Sewer
  • Water Heater:
  • Electric
  • Has Water Access:
  • Yes
  • Water Body Type:
  • Ocean
  • Water Name:
  • Atlantic Ocean
  • Water View:
  • Yes
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo

Source: CINC

  • Listing Provided By Jack Lingo - Rehoboth
  • © 2021 BRIGHT, All Rights Reserved BRIGHT

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