102 Martin Ln Unit 2 Rehoboth Beach, DE 19971

EXTRAORDINARY INVESTMENT OPPORTUNITY! This completely renovated and updated duplex with tenant occupancy and leases in place provides an uninterrupted income stream from the moment you take ownership. The property is ideally suited for either long term rentals as well as short term/weekly possibilities. This 2 unit, fully legal and county approved property, boasts of being fully renovated from top to bottom. Everything in the building was replaced except the walls and the roof which was installed in 2008. There are new windows and doors, rigid foam insulation in the walls that exceed code, and additions to the floor structure, prescribed by a licensed architect, to meet current building code. In addition to the required fire rated ceiling between the units, there is a sound isolation system that blocks most of the noise between the units. All the electric, plumbing, and HVAC are three years old and inspected to code. There is a commercial Wi-Fi system that covers both units with separate, secure networks, plus additional networks for guests and building management. It is also wired with 4 IP cameras and a network video recorder with remote access. The upstairs unit is a 2 bed, 1 bath with a laundry in the unit and enough closets for a long-term tenant or owner. It also has a deck for outdoor privacy. The downstairs unit is a 2 bed, 2 full baths with small closets to accommodate weekly rentals. There is a laundry in the shared storage room for the downstairs unit. That laundry was designed for the cleaners to use when they do the turn-over for weekly renters if needed. There is separate HVAC and electric for each unit, a new 100 foot-deep well with public sewer, and a shared hot water tankless propane system. Both units have stainless steel appliances, granite counter tops and custom purple heart breakfast bars. Four legal parking spaces (permits are included) are defined by railroad ties. It is all legal and was properly permitted as a duplex/rental. The property is located on a dead-end street in a small neighborhood without through traffic. It's within walking distance to restaurants and also convenient to the DART bus that serves the local beaches. Here are some financials that are currently in place. The owners pay for internet access, sewage, trash removal, & propane. Second-floor rent is 1200.00. The first-floor unit, due to some nicer finishes and 2nd full bath is 1300.00. Simply put - this is an excellent investment opportunity. Continue to rent both units OR live in one and rent the other OR rent one long term and the other short term OR etc. Don't miss this opportunity to start or add a great income producer to your investment portfolio!