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36525 PALM DR #5303 Rehoboth Beach, DE 19971
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Key Details
Sold Price $326,000
Property Type Condo
Sub Type Condo/Co-op
Listing Status Sold
Purchase Type For Sale
Subdivision Palms Of Rehoboth
MLS Listing ID DESU179546
Sold Date 05/14/21
Style Unit/Flat
Bedrooms 2
Full Baths 2
Condo Fees $800/qua
HOA Y/N N
Originating Board BRIGHT
Year Built 2003
Annual Tax Amount $617
Tax Year 2020
Lot Dimensions 0.00 x 0.00
Property Description
What if you could own a beach house in just 30 days or less? And what if it was fully-furnished and updated? As if it couldn't get any better, what if I told you the rental income covers the current owners' entire yearly mortgage?! *Yes, this turnkey property is ready to make money for you on Day 1. We already have reservations booked for most of the summer, with some open slots for you to enjoy too. *So that means this income-producing investment is ready to go as soon as you sign the papers. *When guests book this condo, they stay for varying lengths of time: A few days, a week, etc. But regardless of their length of stay, the total income is enough to pay for the current owner's total property expenses. *Even when it's cold outside, this property produces income at the rate of roughly $1,500/month on average from October through April. If you think that's good, just wait until you see the revenue during the summer months! *The attached document shows the breakdown of gross income and operating expenses, so you can see the proof. Ask your agent to download it and send it to you. The document shows names of guests who rented this condo, so please keep that information confidential. That data was provided to prove that we aren't making up the numbers. So please use discretion when reviewing the document. *Why do people keep booking this condo? Because they love it! Nothing-less-than 5 Star reviews on Vrbo and Airbnb! Just look at all the recent updates or features: Pergo waterproof laminate flooring throughout the living area, tile flooring in the kitchen and bathrooms, quartz kitchen countertops, an undermount kitchen sink, stainless steel appliances, stylish lighting fixtures throughout the condo, modern fans in the living room and bedrooms (as well as a fan in the screened-in balcony), new vanities and toilets in both bathrooms and a new HVAC system (2020). *So, what’s the catch? There is no catch! *The owners can continue to profit from their investment. But for the magic number listed in front of you, they'll sell it. After all, a savvy investor like you already knows: Everything's for sale at the right price, especially when interest rates are this low. *And if we can't get that price, we'll simply take it off the market and the owners will enjoy other people paying their expenses. *So now's your chance to easily add wealth to your portfolio. Schedule your tour today! [Note 1]: Seller has ordered a new washer and a new dryer to replace the existing combination/stacked unit you see in the photo. Photos of the new units are provided. They'll be delivered and installed on May 1, 2021. [Note 2]: The interior photos were provided by the Seller and were taken at different times. The condo is also rented out, and subsequently cleaned, regularly. So taking all of this into consideration, the general décor may be slightly different than what you see in the photos since things may have been moved around by renters or the housecleaner, for example. [Note 3]: Any and all listing information and data are assumed to be accurate, but Buyer is responsible for verifying any and all listing information and data.
Location
State DE
County Sussex
Area Lewes Rehoboth Hundred (31009)
Zoning C-1
Rooms
Main Level Bedrooms 2
Interior
Interior Features Ceiling Fan(s)
Hot Water Electric
Heating Forced Air, Heat Pump(s)
Cooling Central A/C
Fireplaces Number 1
Equipment Built-In Microwave, Dishwasher, Disposal, Dryer, Exhaust Fan, Freezer, Icemaker, Microwave, Oven/Range - Electric, Refrigerator, Stainless Steel Appliances, Washer, Water Heater
Furnishings Yes
Fireplace Y
Appliance Built-In Microwave, Dishwasher, Disposal, Dryer, Exhaust Fan, Freezer, Icemaker, Microwave, Oven/Range - Electric, Refrigerator, Stainless Steel Appliances, Washer, Water Heater
Heat Source Electric
Laundry Washer In Unit, Dryer In Unit
Exterior
Amenities Available Pool - Outdoor
Water Access N
Accessibility None
Garage N
Building
Story 1
Unit Features Garden 1 - 4 Floors
Sewer Public Sewer
Water Public
Architectural Style Unit/Flat
Level or Stories 1
Additional Building Above Grade, Below Grade
New Construction N
Schools
School District Cape Henlopen
Others
HOA Fee Include Common Area Maintenance,Pool(s),Snow Removal,Ext Bldg Maint,Trash,Reserve Funds,Road Maintenance
Senior Community No
Tax ID 334-13.00-317.00-5303
Ownership Condominium
Security Features Carbon Monoxide Detector(s)
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash,Conventional
Special Listing Condition Standard
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Bought with Terry Stinson • Keller Williams Realty