APPROVED preliminary plans to build three, 5 bed 4 bath homes! East of route one and an easy walk to Rehoboth Ave. Discover a rare opportunity to own a fully renovated, income-producing Rehoboth Beach cottage while unlocking incredible development potential. This charming coastal retreat sits on nearly half an acre… Read More and features a beautifully updated main cottage along with a separate in-law suite - perfect for extended family or vacation guests. The property currently operates as a successful short-term rental, generating approximately $45,000 per summer, even with two weeks reserved for the owner's family. Beyond its charm and consistent income, this property offers something truly special: C-1 zoning with preliminary approval already in place for three new 5-bedroom, 4-bath homes. Whether you're an investor seeking steady cash flow while you plan your project, or a developer ready to take advantage of the area's booming new construction market, this property checks every box. New development around the corner has sold homes exceeding of $1.6 million, proving the strong demand for high-end coastal living in this location. Situated just one lot from the Rehoboth-Lewes Canal, the property offers easy access to everything that makes Rehoboth Beach so desirable. A new city-approved bike path located about 40 feet away will soon connect directly to Rehoboth Avenue and the Boardwalk, allowing guests or future homeowners to enjoy the beach, dining, and shops without ever starting a car. Located outside of Rehoboth Beach city limits, the property falls under Sussex County jurisdiction - making the permitting process simpler, faster, and more cost-effective. And to make things even easier, the listing agent is a local builder and contractor who can complete the future builds for the new buyer. This is an exceptional opportunity to own a cash-flowing Rehoboth Beach classic with the potential to develop three new luxury homes in one of Delaware's most coveted coastal destinations. Buyer to confirm all permitted land uses with Sussex County. Seller is a licensed Delaware REALTORae;, local builder/contractor, and the listing agent. Read Less
Courtesy of Crown Homes Real Estate
Listing Snapshot
Days Online
5
Last Updated
Property Type
Single Family Residential
Beds
3
Full Baths
2
Square Ft.
576
Lot Size
0.37 Acres
Year Built
1960
MLS Number
DESU2098906
30 Days Snapshot Of 19971
$849k
-2%
(avg) sold price
43
-20%
homes sold
86
+75%
(avg) days on market
Snapshot
Area Map
Additional Details
Lot
0.37 acres, 16,117 sqft, Lot Size Dimensions: 75.00 x 219.00
Building
576 sqft living area, 576 sqft above grade (finished), Built in 1960, Major renovation in 2021, Structure Type: Detached, 1 levels, Coastal
Cooling
Central Air, Electric, Central A/C
Fence
Fully
Foundation
Crawl Space
Heating
Electric, Forced Air
Property
Other Structures: Above Grade, Below Grade, Outdoor Living Structures: Deck(s), View: Canal
Sewer
Public Sewer
Taxes
County Tax: $24, County Tax Pymnt Freq: Annually, School Tax: $226, Tax Annual Amount: $250, Tax Year: 2021
Utilities
Hot Water: Instant Hot Water, Electric
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