$299,000
$299,000
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2 SAULSBURY ST #5 Dewey Beach, DE 19971
3 Beds
2 Baths
950 SqFt
Key Details
Sold Price $299,000
Property Type Condo
Sub Type Condo/Co-op
Listing Status Sold
Purchase Type For Sale
Square Footage 950 sqft
Price per Sqft $314
Subdivision Rehoboth By The Sea
MLS Listing ID DESU172744
Sold Date 02/09/21
Style Coastal,Unit/Flat
Bedrooms 3
Full Baths 2
Condo Fees $400/mo
HOA Y/N N
Abv Grd Liv Area 950
Originating Board BRIGHT
Land Lease Amount 1200.0
Land Lease Frequency Annually
Year Built 1963
Annual Tax Amount $803
Tax Year 2020
Lot Size 0.320 Acres
Acres 0.32
Lot Dimensions 0.00 x 0.00
Property Description
This is for you IF: This is a ground lease property. There are 6 years remaining on the ground lease- you leave the property at the end of the 6 year term-no buy out or renewal option . Must be a cash buyer only- financing is not an option for only a 6 year term. Great opportunity to enjoy 6 years of OCEAN FRONT!! Welcome to Shorebreak on Saulsbury!" This charmingly appointed, recently renovated condo sits directly atop the beach! It features 3 bedrooms and 2 baths, central HVAC, hardwood floors throughout, granite countertops in the full kitchen, two reserved parking spaces, and direct dune access to the beach. Located in Colonial Seas, the 6-unit building received a new roof in 2019, and new stairs are set to be installed in November 2020. Association dues cover all grounds and exterior building maintenance, communal hot water, outside shower, community grill and dune seating. Unit #5 generated over $65,000 of rental income in 2020; take out the covid losses and income would be closer to 80K. The prime Summer weeks rent for $4,250/week, and are consistently fully booked. There are 6 years left on the land lease at a very low $1,200 per year, so you can recoup your investment AND enjoying living in style right on the beach!
Location
State DE
County Sussex
Area Lewes Rehoboth Hundred (31009)
Zoning TN
Direction South
Rooms
Other Rooms Living Room, Kitchen, Screened Porch
Main Level Bedrooms 3
Interior
Interior Features Kitchen - Country, Floor Plan - Open, Wood Floors
Hot Water Electric
Heating Heat Pump(s)
Cooling Heat Pump(s), Central A/C
Flooring Hardwood
Equipment Dishwasher, Dryer, Microwave, Oven/Range - Electric, Refrigerator, Washer, Water Heater
Furnishings Partially
Fireplace N
Appliance Dishwasher, Dryer, Microwave, Oven/Range - Electric, Refrigerator, Washer, Water Heater
Heat Source Electric
Laundry Has Laundry
Exterior
Exterior Feature Porch(es), Screened
Garage Spaces 2.0
Parking On Site 2
Utilities Available Cable TV
Amenities Available Beach
Waterfront Description Sandy Beach
Water Access Y
Water Access Desc Public Beach,Swimming Allowed
View Ocean
Roof Type Flat
Street Surface Paved
Accessibility Other
Porch Porch(es), Screened
Total Parking Spaces 2
Garage N
Building
Lot Description Private
Story 1
Unit Features Garden 1 - 4 Floors
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Coastal, Unit/Flat
Level or Stories 1
Additional Building Above Grade, Below Grade
New Construction N
Schools
Elementary Schools Rehoboth
Middle Schools Beacon
High Schools Cape Henlopen
School District Cape Henlopen
Others
Pets Allowed Y
HOA Fee Include Insurance,Trash,Management,Lawn Maintenance
Senior Community No
Tax ID 334-20.14-251.00-5
Ownership Land Lease
SqFt Source Assessor
Security Features Smoke Detector
Acceptable Financing Cash
Listing Terms Cash
Financing Cash
Special Listing Condition Standard
Pets Allowed Dogs OK
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Bought with MELINDA INGRAM • Jack Lingo - Rehoboth