$515,000

Patrician Towers 8 Olive Ave Unit 205 Floor 2 Rehoboth Beach, DE 19971

Estimated payment $3,340/month

Total Views 226,350
1 Bed
1 Bath
-- Sq Ft
-- Price per Sq Ft

Highlights

  • Coastal Architecture
  • Furnished
  • Elevator
  • Rehoboth Elementary School Rated A
  • Community Pool
  • Balcony

About This Home

LOCATION, LOCATION, LOCATION! Welcome to Patrician Towers in Rehoboth Beach, DE, where coastal charm meets an unbeatable ocean-block location that truly sets it apart. Just a short distance from the beach and boardwalk, this fully furnished corner unit offers an unparalleled beachside experience. Featuring two balconies and three sets of sliding glass doors, this bright and inviting condo seamlessly blends indoor and outdoor living, perfect for enjoying the coastal breeze and morning coffee. The light-filled living and dining area creates a warm and welcoming space for your dream retreat. Patrician Towers boasts a rooftop pool and sun deck with breathtaking panoramic views of the beach and boardwalk, offering the ultimate escape to relax and unwind. The front courtyard’s tranquil koi pond with seating adds another serene retreat. Additional amenities include covered off-street garage parking, an elevator, on-site management, a laundry room, and outdoor facilities like sand showers and restrooms—all designed for your convenience. With Rehoboth’s renowned restaurants, boutique shops, arcades, and scenic walking and biking trails just minutes away, this condo truly places you at the heart of everything extraordinary. Rental income for 2024 around $17,850 and 2023 rental income around $13,500.

Listing Agent

Sharon Daugherty

(410) 430-4004 sdgclient@outlook.com Keller Williams Realty Delmarva License #SL3435144 Listed on: 12/11/2024

Keller Williams Realty Delmarva

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $788

Year Built

  • Built in 1970

HOA Fees

  • $533 Monthly HOA Fees

Parking

  • 1 Off-Street Space

Home Design

  • Coastal Architecture
  • Entry on the 2nd floor

Interior Spaces

  • Property has 1 Level
  • Furnished
  • Combination Dining and Living Room

Kitchen

  • Electric Oven or Range
  • Microwave
  • Dishwasher

Bedrooms and Bathrooms

  • 1 Main Level Bedroom
  • 1 Full Bathroom

Laundry

  • Laundry in unit
  • Washer and Dryer Hookup

Outdoor Features

  • Outdoor Shower
  • Balcony

Location

  • Flood Risk

Utilities

  • Forced Air Heating and Cooling System
  • Electric Water Heater

Listing and Financial Details

  • Assessor Parcel Number 334-14.14-31.00-205

Community Details

Overview

  • Association fees include custodial services maintenance, exterior building maintenance, insurance, management, pest control, reserve funds, water
  • Mid-Rise Condominium
  • Patrician Towers Owners Inc. Condos
  • Patrician Towers Community
  • North Rehoboth Subdivision
  • Property Manager

Amenities

  • Elevator

Recreation

Pet Policy

  • Dogs and Cats Allowed

Property Details

Home Type

Condominium

Est. Annual Taxes

$788

Year Built

Built in 1970

Lot Details

0

HOA Fees

$533 per month

Listing Details

  • Property Type: Residential
  • Structure Type: Unit/Flat/Apartment
  • Unit Building Type: Mid-Rise 5 - 8 Floors
  • Architectural Style: Coastal
  • Sussex De Quadrants: East of Rt 1
  • Ownership: Condominium
  • Inclusions: Property sold as seen.
  • New Construction: No
  • Story List: Main
  • Federal Flood Zone: Yes
  • Year Built: 1970
  • Remarks Public: LOCATION, LOCATION, LOCATION! Welcome to Patrician Towers in Rehoboth Beach, DE, where coastal charm meets an unbeatable ocean-block location that truly sets it apart. Just a short distance from the beach and boardwalk, this fully furnished corner unit offers an unparalleled beachside experience. Featuring two balconies and three sets of sliding glass doors, this bright and inviting condo seamlessly blends indoor and outdoor living, perfect for enjoying the coastal breeze and morning coffee. The light-filled living and dining area creates a warm and welcoming space for your dream retreat. Patrician Towers boasts a rooftop pool and sun deck with breathtaking panoramic views of the beach and boardwalk, offering the ultimate escape to relax and unwind. The front courtyard’s tranquil koi pond with seating adds another serene retreat. Additional amenities include covered off-street garage parking, an elevator, on-site management, a laundry room, and outdoor facilities like sand showers and restrooms—all designed for your convenience. With Rehoboth’s renowned restaurants, boutique shops, arcades, and scenic walking and biking trails just minutes away, this condo truly places you at the heart of everything extraordinary. Rental income for 2024 around $17,850 and 2023 rental income around $13,500.
  • Washer Dryer Hookups YN: Yes
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Appliances: Dishwasher, Microwave, Refrigerator, Oven/Range - Electric
  • Entry Floor: 2
  • Interior Amenities: Combination Dining/Living
  • Fireplace: No
  • Levels Count: 1
  • Basement: No
  • Laundry Type: Dryer In Unit, Washer In Unit
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 8

Beds/Baths

  • Bedrooms: 1
  • Main Level Bedrooms: 1
  • Total Bathrooms: 1
  • Full Bathrooms: 1
  • Main Level Bathrooms: 1.00
  • Main Level Full Bathrooms: 1

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Exterior Features: Outside Shower, Sidewalks
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: Yes - Community
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No
  • Total Garage And Parking Spaces: 1
  • Type Of Parking: Off Street
  • Off Street Parking Spaces: 1

Utilities

  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Central A/C
  • Heating Fuel: Electric
  • Heating Type: Forced Air
  • Heating: Yes
  • Hot Water: Electric
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Condo Co-Op Association: Yes
  • Condo Co-Op Fee: 6390.00
  • Condo Co-Op Fee Frequency: Annually
  • Condo Co-Op Name: Patrician Towers Owners Inc.
  • HOA Condo Co-Op Amenities: Elevator, Pool - Outdoor
  • HOA Condo Co-Op Fee Includes: Custodial Services Maintenance, Ext Bldg Maint, Insurance, Management, Pest Control, Reserve Funds, Water
  • HOA: No
  • Senior Community: No

Schools

  • School District: CAPE HENLOPEN
  • School District Key: 300200396895
  • School District Source: Listing Agent

Lot Info

  • Land Use Code: 999
  • Lot Dimensions: 0.00 x 0.00
  • Outdoor Living Structures: Balcony
  • Year Assessed: 2024
  • Zoning: R
  • In City Limits: Yes

Rental Info

  • Furnished: Yes
  • Pets: Cats Ok, Dogs Ok
  • Pets Allowed: Yes
  • Total Actual Rent: 17850.00
  • Vacation Rental: Yes
  • Property Manager: Yes

Tax Info

  • School Tax: 516.00
  • Tax Annual Amount: 788.00
  • Assessor Parcel Number: 334-14.14-31.00-205
  • County Tax Payment Frequency: Annually
  • Tax Data Updated: No
  • Tax Year: 2024

MLS Schools

  • School District Name: CAPE HENLOPEN

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $1,209 $11,500 $0 $11,500
2024 $567 $11,500 $0 $11,500
2023 $566 $11,500 $0 $11,500
2022 $547 $11,500 $0 $11,500
2021 $542 $11,500 $0 $11,500
2020 $540 $11,500 $0 $11,500
2019 $541 $11,500 $0 $11,500
2018 $505 $11,500 $0 $0
2017 $484 $11,500 $0 $0
2016 $459 $11,500 $0 $0
2015 $439 $11,500 $0 $0
2014 $436 $11,500 $0 $0
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/03/2025 09/03/25 Price Changed $515,000 -6.3% --
07/03/2025 07/03/25 Price Changed $549,900 -8.2% --
04/28/2025 04/28/25 Price Changed $599,000 -4.0% --
03/07/2025 03/07/25 Price Changed $624,000 -1.6% --
12/11/2024 12/11/24 For Sale $634,000 +103.9% --
04/13/2017 04/13/17 Sold $311,000 -2.5% $622 / Sq Ft View Prior Sale
03/07/2017 03/07/17 Pending -- -- --
02/24/2017 02/24/17 For Sale $319,000 -- $638 / Sq Ft
Source: Bright MLS

Purchase History

Date Type Sale Price Title Company
Condominium Deed $311,000 --
Deed -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $292,800 No Value Available
Source: Public Records

About the Listing Agent

Sharon Daugherty

Keller Williams Realty Delmarva

(302) 618-4727

Section Image

Sharon Daugherty is a leading resort and luxury real estate specialist, recognized throughout Maryland, Delaware, and Virginia for her industry expertise. Her high energy and sharp business acumen have propelled her to the forefront of the coastal real estate market.

With a portfolio exceeding half a billion dollars in sales and experience working with thousands of buyers and sellers, Sharon is a highly sought-after professional. Since beginning her independent real estate career in

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Source: Bright MLS

MLS Number: DESU2075476

Bright MLS

APN: 334-14.14-31.00-205