DELAWARE SCHOOL OF REAL ESTATE

Description

Welcome to your Waterfront Dream Estate! This is a once-in-a-lifetime opportunity to own one of the best waterfront parcels on the Indian River Bay. Situated on OVER AN ACRE of land and sitting on a point with 380 ft of direct bayfront, you can happily enjoy the beautiful sunrises AND stunning sunsets. This incredibly rare property offers the whole package! The large backyard boasts a newly installed 20 x 40 heated saltwater pool that gives the illusion of an infinity edge overlooking the bay - complete with 3 in-pool barstools, tanning ledge, turbo slide, lights, and deck jets! The covered outdoor kitchen makes it easy to serve your pool guests in style and join in on the fun, even if you're the designated grill master! You'll find the outdoor shower and bathroom are conveniently located to the expansive custom paver patio and pool so that your guests don't have to go inside when they're wet or having too much fun. If the pool is too crowded, no problem -- the fenced in back yard is large enough to enjoy cornhole and other games or simply head on down to the newly constructed 175' dock, complete with boat lift and jet ski lift [not installed, but comes with property]. The bulkhead is also brand new and provides a personal mini-boardwalk on top to walk the property. The yard is also irrigated with a Hunter four zone unit that maybe expanded to seven zones and wifi compatible to be controlled by mobile device. The main house is historic and charming, and if you bring your imagination, you will have one of the most epic pieces of waterfront property on the bay. There are captivating views from all angles of the home, just decide how you envision each room being used! The in-law suite is recently renovated and finished to include a stylish and modern large bedroom with wood burning fireplace, full bathroom with washer & dryer, as well as a kitchen. The property includes approved plans for expansion, allowing you to create the ultimate waterfront retreat complete with an oversized two-car garage with apartment, large kitchen overlooking the water, 4 more bedrooms and 3 bathrooms, and an area for an office and gym. With the space this property provides, the possibilities and potential are endless! Adding to the incredible value, the property also features a FULLY renovated four-unit apartment building, with each unit currently bringing in $1,300 per month. Providing excellent rental income or guest accommodations, you could use these efficiencies as long-term leases, for family & friends, or truly capitalize and maximize the income potential by renting them through AIRBNB or VRBO! The building provides four furnished 400 sq ft apartment units, complete with two bedrooms • 1 full bathroom • kitchenette • and living room area in each. The center unit houses washer, dryer, storage and access to the motel basement. The property owners tackled this Mid Century motel from top to bottom -- including new roof • new electric • new plumbing • new mini splits • new drywall • new insulation • new flooring • new interior & exterior doors • new windows • new gutters • new bathroom • new kitchen • and SO MUCH MORE! This building also includes cameras. Unmatched waterfront views and the abundant amount of income potential mixed with low property taxes and a high enough elevation that floor insurance isn't even required... this type of property is like finding a needle in a haystack. It is a unique & rare gem, inviting you to see its potential and worth from all aspects.

Features