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

7 Bed
5 Bath

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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.


Essentials

MLS Number
Desu2002070
List Price
$4,000,000
Bedrooms
7
Full Baths
5
Standard Status
Active
Year Built
1985
New Construction
N
Property Type
Residential
Waterfront
N

Location

Address
1 Olive Ave, Rehoboth Beach, De
Subdivision Name
North Rehoboth
Acres
0.09

Interior

Heating
Zoned, forced Air, heat Pump(s)
Heating Fuel
Electric
Cooling
Ceiling Fan(s), central A/c
Hot Water
Electric
Flooring
Hardwood
Square Footage
3000

Interior Features

  • Ceiling Fan(s)
  • Floor Plan - Open
  • Primary Bedroom - Ocean Front
  • Wood Floors

Appliances

  • Dryer
  • Washer
  • Disposal
  • Dishwasher
  • Oven/Range - Electric
  • Refrigerator
  • Microwave

Additional Information

Elementary School
Rehoboth
High School
Cape Henlopen
Middle School
Beacon
Tax Annual Amount
$4,662

Listing courtesy of Jack Lingo - Rehoboth.

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