8 Olive Avenue #103, Rehoboth Beach, DE 19971-2864 $495,000

Beds/Baths: 0/1
Interior Sq. Ft: 500
Acreage:
Age:54 years
Style:
Coastal
MLS#: DESU2071126
Subdivision: None Available
Design/Type:
Unit/Flat/Apartment

Description

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 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.

Full Bath: Main

Taxes: $684
Home Assoc: No
Condo Assoc: $1,229/Quarterly
Garage: Y
Basement: N
Pool: Yes - Community
School Dist: Cape Henlopen

Features

Utilities
Heat Pump(s), Electric, Ceiling Fan(s), Central A/C, Geothermal Cooling, HRV/ERV, Electric, Geothermal, Hot Water - Electric, Public Water, Public Sewer, Common Laundry, Shared Laundry, Upper Floor Laundry, Cable TV

Garage/Parking
Parking Garage, Basement Garage, Garage - Front Entry

Interior
Ceiling Fan(s), Combination Dining/Living, Efficiency, Elevator, Accessibility - 2+ Access Exits, Accessibility - Elevator, Accessibility - Level Entry - Main, Accessibility - No Stairs, Sliding Glass Doors, Desk in Lobby, Exterior Cameras, Main Entrance Lock, Security Gate

Exterior
Brick Exterior, Concrete Exterior, Glass Exterior, Patio(s), Sidewalks, Street Lights, Underground Lawn Sprinkler, Fenced Pool

Lot
Oceanblock, Fully Fenced, Wood Fence

Select a school from the following list. Schools are grouped by school type.
The schools on this list are selected by their proximity of up to 5 miles to the property address. Proximity does not guarantee enrollment eligibility. Please contact the school directly for more information on enrollment requirements.
* If there are more than 5 schools of any type within a close proximity, click on the button to see additional schools of that type near the search address.

Public Elementary (2 schools)

School District Grades Place Distance
Rehoboth Elementary School Cape Henlopen School District K–5 Rehoboth Beach 0.88 mi
Love Creek Elementary School Cape Henlopen School District K–5 Lewes 4.03 mi

Public Middle (1 schools)

School District Grades Place Distance
Beacon Middle School Cape Henlopen School District 6–8 Lewes 3.85 mi

Public High (1 schools)

School District Grades Place Distance
Cape Henlopen High School Cape Henlopen School District 9–12 Lewes 4.72 mi

© 2024 LiveBy. All Rights Reserved.

This report is a detailed community overview for Rehoboth Beach (19971), Delaware.

Community Quick Facts

  • Average travel time to work for people in this community: 24
  • Average salary of people in this community: $77,267

Community Summary

  • Population Density (ppl / mile): 495
  • Household Size (ppl): 1.96
  • Households w/ Children: 15%

Housing Inventory

  • Owned: 6,197 (37.9%)
  • Rented: 812 (5.0%)
  • Vacant: 9,359 (57.2%)
  • Total: 16,368

Population Demographics

The population of the community broken down by age group. The numbers at the top of each bar indicate the number of people in the age bracket below.

Total: 13,739
Households: 7,009
Median Age: 59.90

Climate and Weather

The Temperature chart displays average high and low values for January and July, and is designed to provide an indication of both seasonal and daily temperature variability. The Weather Risk Index indicates the calculated risk of each type of weather event occurring in the future. This risk is based on historical localized storm events and weather patterns. The national average for each type of weather event equals a score of 100, so a score of 200 would represent twice the risk as the national average, and a score of 50 would represent half the risk of the national average.

Temperature

Education

Highest Level of Education Attained

  • Less than 9th Grade: 1.2%
  • Some High School: 3.1%
  • High School Graduate: 19.8%
  • Some College: 15.6%
  • Associate Degree: 7.5%
  • Bachelor's Degree: 28.0%
  • Graduate Degree: 24.9%

Income by dollar range

Median Income: $78,689

Fair Market Rents

The Fair Market Rents show average gross rent estimates based on figures provided by the U.S. Department of Housing and Urban Development (HUD).

  • Studio: $1,682
  • One Bedroom: $932
  • Two Bedroom: $1,268
  • Three Bedroom: $1,432
  • Four Bedroom: $2,638

© 2024 LiveBy. All Rights Reserved.

Contact Information

Listing Courtesy of: Monument Sotheby's International Realty , (302) 227-6767, justin.healy@msir.net

The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which Patterson-Schwartz Real Estate participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information Deemed Reliable But Not Guaranteed.
Copyright BRIGHT, All Rights Reserved
Listing data as of 11/02/2024.

8 Olive Avenue #103, Rehoboth Beach, DE 19971-2864

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Broker Compensation

An offer of broker compensation or seller concession is not a guarantee. All compensation offers and concessions are negotiable and subject to written agreement between the parties. Please consult with your real estate agent for more information.