8 OLIVE AVENUE Unit 103, REHOBOTH BEACH, DE 19971

$495,000

Ocean Block Pied-a-Terre, offering just what its name suggests - a respite in which to relax, refresh and unwind from your other life, a place of convenience and flexibility - a place where you can park your car and walk to all that surrounds you - the beach, boardwalk, restaurants… Read More and shops. An escape without the constraints of maintenance of your primary home. Just what you've wanted, and at a price you can afford! Currently, this is the lowest priced property in the city of Rehoboth! This beautifully appointed L-Shaped Efficiency is bright, with sleek, modern furnishings and impeccably maintained. Updates include wood-tone flooring throughout the unit; extended height cabinetry and solid surface counters in the kitchen; sleek coastal style wood closet doors; an upgraded hot water heater so no one gets a cold shower; newly renovated bathroom with walk-in shower and glass doors, new vanity and lighting; custom full-sized pleated shades on both sliding patio doors for privacy, when desired, and new replacement patio door screens. Fully furnished, the living area features a new longer length coastal blue modern couch, offering seating for guests and plenty of room for naps. There is dining for four with extra pieces that can be pulled up to accommodate more. The sleeping area features a queen size bed with built in storage drawers. The double sliding doors open to a secluded patio area, furnished with cushioned chairs with ottomans, an umbrella and a storage container for all your beach supplies. Located on the first floor, this unit can be accessed through the lobby, or through a secondary entrance located on the side of the building. Enjoy one parking space in the secure underground garage. Patrician Towers has a welcoming courtyard with Koi pond, a great place to gather with friends and family before an evening out. After a day on the beach, take the elevator up to the roof top pool with panoramic views of the ocean, boardwalk and the city. Sunrises and sunsets from there are not to be missed. If you enjoy biking, Rehoboth is home to the Breakwater Junction Trail, known for its natural beauty and proximity to historic Lewes and beyond. Bike storage is located in the garage. While the sellers did not rent this unit in 2024, it boasted $17,000. rental income in 2023 for just 12 weeks. If looking for an investment, this is for you. On-site management facilitates rentals for you, if desired. In recent years, Patrician Towers has undergone major renovations to the building to maintain its structural integrity, improve appearance and protect the investment of its owners. These include new aluminum awnings; aluminum railings, balcony and walkway coating; brick pointing; concrete repairs; caulking; soffit coatings; drip edge replacement and more! All phases were completed prior to May, 2023. Enjoy these improvements, paid for by those who came before you! Hurry in and see why you will want to make this your own, and soon you'll be enjoying all this area has to offer. Read Less

Courtesy of MARILYNN KUEBLER, Monument Sotheby's International Realty [email protected]

Listing Snapshot

Days Online

Last Updated

Oct 5, 2024

Property Type

Condominium

Full Baths

Square Ft.

500

Year Built

1970

MLS Number

DESU2071126

30 Days Snapshot Of 19971

+3%

(avg) sold price

+25%

homes sold

-5%

(avg) days on market

Snapshot

Area Map

Additional Details

Appliances & Equipment

1 elevator, Dishwasher, Microwave, Oven/Range - Electric, Refrigerator, Water Heater

Building

500 sqft living area, 500 sqft above grade (finished), Built in 1970, Structure Type: Unit/Flat/Apartment, 1 floor in unit, 51 units in building, 6 levels in building, 6 levels, Coastal, Brick, Concrete, Glass

Cooling

Central Air, Electric, Geothermal, Ceiling Fan(s), Central A/C, Geothermal, Heat Pump(s)

Doors

Sliding Glass

Accessibility Features

2+ Access Exits, Elevator, Level Entry - Main, No Stairs

Exterior Features

Sidewalks, Street Lights, Underground Lawn Sprinkler

Fence

Fully, Wood

Garage

1 garage space

Heating

Electric, Heat Pump(s)

Home Owner's Association

Condo/Coop Association, Condo/Coop Fee : $1,230, Condo/Coop Fee Freq: Quarterly, Common Grounds, Elevator, Fencing, Laundry Facilities, Pool - Outdoor, Security, Common Area Maintenance, Ext Bldg Maint, Insurance, Management, Pest Control, Pool(s), Reserve Funds, Water

Interior Features

Bathroom - Walk-In Shower, Ceiling Fan(s), Combination Dining/Living, Efficiency, Elevator, Entry Level Bedroom, Floor Plan - Open, Kitchen - Galley, Upgraded Countertops, Window Treatments

Laundry

Common, Upper Floor, Shared

Lot

Lot Size Dimensions: 0.00 x 0.00

Parking

Parking Space Conveys

Property

Other Structures: Above Grade, Below Grade, Outdoor Living Structures: Patio(s)

Sewer

Public Sewer

Taxes

City/Town Tax: $160, City/Town Tax Pymnt Freq: Annually, County Tax: $43, County Tax Pymnt Freq: Annually, School Tax: $482, School Tax Pymnt Freq: Annually, Tax Annual Amount: $685, Tax Year: 2024

Utilities

Hot Water: Electric, Cable TV

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