2 Saulsbury St #5, Dewey Beach, DE 19971
$299,000

MLS#
Desu172744
Price
$299,000
Bedrooms
3
Full Baths
2
Standard Status
Active
Waterfront
Y
Unit Number:5

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


View
Ocean
Architectural Style
Coastal, unit/flat
Construction Materials
Vinyl Siding
Exterior Features
Flood Lights, street Lights
Foundation Details
Slab
Parking Features
Assigned
Outdoor Living Structures
Porch(es), screened
Roof
Flat
Water Body Type
Ocean

Interior Features


Heating
Heat Pump(s)
Heating Fuel
Electric
Cooling
Heat Pump(s), central A/c
Hot Water
Electric
Fireplace
N
Flooring
Hardwood
Appliances
Dishwasher, dryer, microwave, oven/range - Electric, refrigerator, washer, water Heater
Interior Features
Kitchen - Country, floor Plan - Open, wood Floors

Additional Details


Elementary School
Rehoboth
High School
Cape Henlopen
Middle School
Beacon
Square Footage
950
Acres
0.32
Year Built
1963
New Construction
N
Property Type
Residential
County
Sussex
Lot Size Dimensions
0.00 X 0.00
SchoolDistrictName
Cape Henlopen
Sussex DE Quadrants
East Of Rt 1