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    2 Saulsbury Street , #5

    DEWEY BEACH, DE 19971
    • $299,000
    • STATUS: Active
    • ON SITE: 17 days
    • ID#: DESU172744
    $299,000
    • 3
      BEDS
    • 0.32
      ACRES
    • 2
      BATHS
    • 0
      1/2 BATHS
    • 950
      SQFT
    • $315
      $/SQFT
    Neighborhood:
    Type:
    Condo
    Built:
    1963
    County:

    School Information

    Elementary School:
    Middle School:
    High School:
    School District:

    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!

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    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-11-23T16:52:40.713.
    www.yourchestercountyhomesearch.com/homes/111669510
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    2 Saulsbury Street , #5 DEWEY BEACH, DE 19971

    • Price: $299,000
    • Status: Active
    • ID#: DESU172744
    3
    Beds
    2
    Baths
    0
    ½ Baths
    0.32
    Acres
    950
    SQFT
    $315
    $/SQFT
    1963
    Built
    Neighborhood:
    Rehoboth By The Sea
    County:
    Sussex
    Area:
    Lewes Rehoboth Hundred (31009)
    Elementary School:
    Rehoboth
    Middle School:
    Beacon
    High School:
    Cape Henlopen
    School District:
    Cape Henlopen
    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!
    Exterior Features

    Architectural Style CoastalUnit/Flat Assigned Parking Spaces 2 Construction Materials Vinyl Siding Direction Faces South Distance To Body Of Water 20 Door Features Insulated Exterior Features Flood LightsStreet Lights Garage YN No Location Type Oceanfront Lot Features Private Other Structures Above GradeBelow Grade Parking Features Assigned Parking Types Parking Lot Patio And Porch Features Porch(Es)Screened Pool No Pool Property Condition Very Good Road Surface Type Paved Roof Flat Unit Building Type Garden 1 - 4 Floors View Ocean Water Access Features Public BeachSwimming Allowed Water Access YN Yes Water Body Name Atlantic Ocean Water Body Type Ocean Water Oriented YN Yes Water View YN Yes Waterfront Features Sandy Beach Waterfront YN Yes

    Interior Features

    Above Grade Fin SQFT 950 Appliances DishwasherDryerMicrowaveOven/Range - ElectricRefrigeratorWasherWater Heater Basement YN No Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling Heat Pump(S)Central A/C Exclusions Dining Table And ChairsHand ChairStanding Mirror in HallArtwork And Personal items Belonging To Sellers. Fireplace YN No Fireplaces Total 0 Flooring Hardwood Furnished Partially Heating Heat Pump(S) Heating YN Yes Inclusions Furniture With Exclusions Interior Features Kitchen - CountryFloor Plan - OpenWood Floors Laundry Type Has Laundry Levels 1 Main Level Bedrooms 3 Pets Allowed Dogs Ok Room List Living RoomKitchenScreened Porch Rooms Total 8 Security Features Smoke Detector

    Property Features

    Acceptable Financing Cash Accessibility Features Other Assessment Year 2020 Association Amenities Beach Association Fee Includes InsuranceTrashManagementLawn Maintenance Association Fee2 400.00 Association Fee2 Frequency Monthly Association YN No Building Name Colonial Seas Central Air YN Yes Condo YN Yes Cooling Fuel Electric Electric FusesCircuit Breakers Entry Level 2 Federal Flood Zone Ao Federal Flood Zone YN Yes Foundation Details Slab Heating Fuel Electric Hot Water Electric Internet Services Cable Navigable Water YN Y New Construction YN No Number Of Units Total 6 Original MLSNumber 304386526913 Ownership Interest Land Lease Pets Allowed YN Yes Possession Settlement Sale Type Standard Senior Community YN No Sewer Public Sewer Structure Design Type Unit/Flat/Apartment Tax Annual Amount 803.00 Total Actual Rent 85000.00 Transportation Bus Stop Less Than 1 Mile Utilities Cable Tv Vacation Rental YN Yes Water Source Public Zoning Tn Zoning Description Town Codes

    Listing courtesy of Jack Lingo - Rehoboth.


    ©2020 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Real Estate. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2020-11-23T16:52:40.713.
     
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