20 Saint Louis Street, Dewey Beach, DE 19971 $3,795,000

Extremely Rare, Fee Simple (you Own The Land!) One-of-a-kind Oversized Lot In Coveted Rehoboth-by-the-sea In North Dewey Beach. This 75x100 Foot Property Is Only Four Houses From The Beach! A Huge Bonus Is The Adorable 4 Bedroom/2 Bath Year-round Home With Excellent Rental History ($90k Plus). If Buyers Wish To Expand At Their Expense, There Is A Shovel-ready, Approved And Permitted Plan (photos Attached) For An Amazing 2 Story Addition, Increasing Home Size To Approximately 4,700 Square Feet Including 10 Bedrooms And 10 Baths! Current Estimate For Construction Is Approx. $950k- $1million. For Under $5 Million Total Investment, This Would Be A One-of-a Kind, Resort-style Home W/open Floor Plan, Including Huge Porches, Outdoor Spaces And Inground Pool And Pool Cabana On The Beach Block! There Will Also Be A Small Basement. If You Decide To Build The Addition, Your Rental Income Would Increase To Approximately $20-22k Per Week ($250-$300k Per Year Annually) Based On Current Comps. (or You Can Build Smaller Or Use As Is!) Architectural Plans Included With Sale.

List Office Name:

Bay Coast Realty