NOT LISTED FOR SALE

Patrician Towers 8 Olive Ave Unit 306 Rehoboth Beach, DE 19971

Estimated Value: $790,000 - $911,000

2 Beds
1 Bath
750 Sq Ft
$649/mo HOA Fee

Last Sold October 23, 2020

Last sale price $615,000 $820 Per Sq Ft

Est. 39% increase in value since last sale

Current estimated payment $5,324/month

Highlights

  • Ocean View
  • Home fronts navigable water
  • Public Beach
  • Rehoboth Elementary School Rated A
  • Water Access
  • Open Floorplan

About This Home

As of October 2020

Ocean block, fully furnished and turnkey! Patrician Towers Condominium, located in the heart of Rehoboth Beach, is 75 steps to the ocean and fewer to the iconic mile-long boardwalk. Features include a rooftop pool with panoramic views and ocean breezes, as well as a welcoming courtyard with benches and koi pond. Park one car on site (other options for street parking are available for additional vehicles) and walk to all Rehoboth offers from countless eateries; breweries; coffee shops; unique boutiques; local bookstore; amusements for children and adults alike; mini-golf and so much more. Walk or bike on the boardwalk or the Breakwater Junction Trail from Rehoboth to Lewes and further, taking in breathtaking views of ocean, marsh and glades. Take the Jolly Trolley to surrounding area beaches. This well equipped 2 BR, 1 BA 3rd floor unit welcomes you with Casual cottage florals and coastal shades of blue. It has wood tone flooring throughout. Enjoy viewing the ocean from the balcony, which features a covered reading nook and is a perfect spot for enjoying morning coffee or evening cocktails. The living area features comfortable seating for six and has a sleep sofa, if needed. The kitchen is fully stocked and opens to the living area with a large breakfast bar with stools. The banquette offers table seating or room for games or completing a puzzle on a rainy day. The wall mounted television is viewable from the living, dining and kitchen areas. The primary bedroom features a queen bed and plenty of storage in the dresser and closet and has a wall mounted television. The guest bedroom is cozy with twin Pottery Barn beds, and features a vanity closet with light and outlet for hair dryer. The bath features a fully tiled walk in shower. This unit is convenient to the large laundry room, also located on the 3rd floor. On-site management is a plus! This building is known for repeat rentals if looking for an investment. Completely renovated from top to bottom in 2001; new Geothermal/split HVAC system in 2005; new flat top convection range and hot water heater in 2019.

Last Agent to Sell the Property

Marilynn Kuebler

(302) 528-1369 marilynnkuebler@comcast.net Monument Sotheby's International Realty License #RS-0017650 Listed on: 09/15/2020

Monument Sotheby's International Realty

Last Buyer's Agent

Jason Lesko

(610) 703-4532 jasonlesko1@yahoo.com Redfin Corporation

Redfin Corporation

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $1,180

Year Built

  • Built in 1970 | Remodeled in 2001

Lot Details

  • Home fronts navigable water
  • Public Beach
  • Two or More Common Walls
  • Downtown Location
  • North Facing Home
  • Property is Fully Fenced
  • Landscaped
  • Property is in excellent condition

HOA Fees

  • $649 Monthly HOA Fees

Parking

  • 1 Car Attached Garage
  • Secure Parking

Property Views

  • City
  • Courtyard

Home Design

  • Entry on the 3rd floor
  • Flat Roof Shape
  • Brick Exterior Construction

Interior Spaces

  • 750 Sq Ft Home
  • Open Floorplan
  • Furnished
  • Ceiling Fan
  • Window Treatments
  • Sliding Windows
  • Window Screens

Kitchen

  • Galley Kitchen
  • Breakfast Area or Nook
  • Electric Oven or Range
  • Microwave
  • Dishwasher
  • Upgraded Countertops
  • Disposal

Flooring

  • Wood
  • Laminate

Bedrooms and Bathrooms

  • 2 Main Level Bedrooms
  • 1 Full Bathroom
  • Walk-in Shower

Home Security

  • Exterior Cameras
  • Flood Lights

Accessible Home Design

  • Accessible Elevator Installed
  • Doors with lever handles
  • No Interior Steps
  • Level Entry For Accessibility

Outdoor Features

  • Outdoor Shower
  • Water Access
  • Property is near an ocean
  • Balcony

Utilities

  • Forced Air Heating System
  • Vented Exhaust Fan
  • Geothermal Heating and Cooling
  • Electric Water Heater
  • Phone Available
  • Cable TV Available

Listing and Financial Details

  • Property is used as a vacation rental
  • Assessor Parcel Number 334-14.14-31.00-306

Community Details

Overview

  • Association fees include common area maintenance, exterior building maintenance, insurance, management, pool(s), reserve funds, water
  • 51 Units
  • Mid-Rise Condominium
  • Patrician Towers, Inc. Condos, Phone Number (302) 227-9471
  • Patrician Towers Community
  • Rehoboth Beach Subdivision
  • Property Manager
  • Property has 6 Levels

Amenities

  • Common Area
  • Laundry Facilities
  • 1 Elevator

Recreation

Pet Policy

  • Dogs and Cats Allowed

Security

  • Security Service
  • Front Desk in Lobby
  • Storm Windows
  • Fire and Smoke Detector

Property Details

Home Type

Condominium

Est. Annual Taxes

$1,180

Year Built

Built in 1970 | Remodeled in 2001

Lot Details

0

HOA Fees

$649 per month

Parking

1

Listing Details

  • Property Type: Residential
  • Structure Type: Unit/Flat/Apartment
  • Unit Building Type: Mid-Rise 5 - 8 Floors
  • Architectural Style: Unit/Flat
  • Sussex De Quadrants: East of Rt 1
  • Accessibility Features: Doors - Lever Handle(s), Elevator, Level Entry - Main, No Stairs
  • Ownership: Condominium
  • Exclusions: Sheets; narrow tall metal magazine table next to couch; white ruffled quilts and shams in twin bedroom; white towels in bathroom; "Shower" sign in bathroom; shark vacuum cleaner; contents of owner's closet in hallway.
  • Historic: No
  • Home Warranty: No
  • Inclusions: Turnkey property including most furnishings; bedding unless excluded below; all lamps; rugs; all dishes; all glassware; all cookware; all flatware; balcony furniture; accessories unless listed under exclusions.
  • New Construction: No
  • Story List: Main
  • Expected On Market: 2020-09-15
  • Federal Flood Zone: No
  • Year Built: 1970
  • Year Renovated: 2001
  • Automatically Close On Close Date: No
  • Building Winterized: No
  • Remarks Public: Ocean block, fully furnished and turnkey! Patrician Towers Condominium, located in the heart of Rehoboth Beach, is 75 steps to the ocean and fewer to the iconic mile-long boardwalk. Features include a rooftop pool with panoramic views and ocean breezes, as well as a welcoming courtyard with benches and koi pond. Park one car on site (other options for street parking are available for additional vehicles) and walk to all Rehoboth offers from countless eateries; breweries; coffee shops; unique boutiques; local bookstore; amusements for children and adults alike; mini-golf and so much more. Walk or bike on the boardwalk or the Breakwater Junction Trail from Rehoboth to Lewes and further, taking in breathtaking views of ocean, marsh and glades. Take the Jolly Trolley to surrounding area beaches. This well equipped 2 BR, 1 BA 3rd floor unit welcomes you with Casual cottage florals and coastal shades of blue. It has wood tone flooring throughout. Enjoy viewing the ocean from the balcony, which features a covered reading nook and is a perfect spot for enjoying morning coffee or evening cocktails. The living area features comfortable seating for six and has a sleep sofa, if needed. The kitchen is fully stocked and opens to the living area with a large breakfast bar with stools. The banquette offers table seating or room for games or completing a puzzle on a rainy day. The wall mounted television is viewable from the living, dining and kitchen areas. The primary bedroom features a queen bed and plenty of storage in the dresser and closet and has a wall mounted television. The guest bedroom is cozy with twin Pottery Barn beds, and features a vanity closet with light and outlet for hair dryer. The bath features a fully tiled walk in shower. This unit is convenient to the large laundry room, also located on the 3rd floor. On-site management is a plus! This building is known for repeat rentals if looking for an investment. Completely renovated from top to bottom in 2001; new Geothermal/split HVAC system in 2005; new flat top convection range and hot water heater in 2019.
  • Special Features: None
  • Property Sub Type: Condos

Interior Features

  • Appliances: Dishwasher, Disposal, Exhaust Fan, Microwave, Oven/Range - Electric, Refrigerator, Water Heater
  • Entry Floor: 3
  • Flooring Type: Laminated
  • Interior Amenities: Breakfast Area, Ceiling Fan(s), Combination Dining/Living, Combination Kitchen/Living, Elevator, Floor Plan - Open, Kitchen - Galley, Stall Shower, Upgraded Countertops, Window Treatments, Wood Floors
  • Window Features: Screens, Sliding, Storm
  • Fireplace: No
  • Common Walls: 2+ Common Walls
  • Elevators Count: 1
  • Floors In Unit Count: 1
  • Levels Count: 6
  • Basement: No
  • Laundry Type: Common
  • Total Sq Ft: 750
  • Living Area Sq Ft: 750
  • Price Per Sq Ft: 798.67
  • Above Grade Finished Sq Ft: 750
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 8

Beds/Baths

  • Bedrooms: 2
  • Main Level Bedrooms: 2
  • Total Bathrooms: 1
  • Full Bathrooms: 1
  • Main Level Bathrooms: 1.00
  • Main Level Full Bathrooms: 1

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Brick
  • Exterior Features: Flood Lights, Outside Shower, Sidewalks, Street Lights
  • Roof: Flat
  • Spa: No
  • View: Ocean, City, Courtyard
  • Water Access Features: Public Beach
  • Water Access: Yes
  • Water Body Name: Atlantic Ocean
  • Water Body Type: Ocean
  • Waterfront: No
  • Water Oriented: Yes
  • Pool: Yes - Community
  • Tidal Water: No
  • Water View: Yes

Garage/Parking

  • Garage Spaces: 1.00
  • Garage: Yes
  • Parking Features: General Common Elements, Secure Parking
  • Garage Features: Underground
  • Attached Garage Spaces: 1
  • Total Garage And Parking Spaces: 1
  • Type Of Parking: Attached Garage

Utilities

  • Refuse: 300.00
  • Central Air Conditioning: No
  • Cooling Fuel: Electric
  • Cooling Type: Geothermal
  • Heating Fuel: Electric
  • Heating Type: Forced Air
  • Heating: Yes
  • Hot Water: Electric
  • Security: Exterior Cameras, Desk In Lobby, Main Entrance Lock, Smoke Detector
  • Sewer/Septic System: Public Sewer
  • Utilities: Cable Tv Available, Phone Available
  • Water Source: Public
  • Municipal Trash: No

Condo/Co-op/Association

  • Condo Co-Op Association: Yes
  • Condo Co-Op Fee: 1946.58
  • Condo Co-Op Fee Frequency: Quarterly
  • Condo Co-Op Name: Patrician Towers, Inc.
  • Condo Co-Op Phone: 302-227-9471
  • HOA Condo Co-Op Amenities: Cable, Common Grounds, Elevator, Laundry Facilities, Pool - Outdoor, Security, Reserved/Assigned Parking
  • HOA Condo Co-Op Fee Includes: Common Area Maintenance, Ext Bldg Maint, Insurance, Management, Pool(s), Reserve Funds, Water
  • HOA Condo Co-Op Management Type: Professional - On-Site
  • HOA: No
  • Senior Community: No
  • Association Recreation Fee: No

Schools

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

Green Features

  • Clean Green Assessed: No

Lot Info

  • Fencing: Fully
  • Land Use Code: RC
  • Lot Features: Landscaping
  • Lot Dimensions: 0.00 x 0.00
  • Outdoor Living Structures: Balcony
  • Property Condition: Excellent
  • Year Assessed: 2020
  • Zoning: RESIDENTIAL
  • In City Limits: Yes

Rental Info

  • Furnished: Yes
  • Ground Rent Exists: No
  • Lease Considered: No
  • Pets: Cats Ok, Dogs Ok
  • Pets Allowed: Yes
  • Total Actual Rent: 15770.00
  • Vacation Rental: Yes
  • Property Manager: Yes

Tax Info

  • Assessor Parcel Number: 5196190
  • School Tax: 805.00
  • Tax Annual Amount: 1180.00
  • Assessor Parcel Number: 334-14.14-31.00-306
  • County Tax Payment Frequency: Annually
  • Tax Year: 2020
  • Close Date: 10/23/2020

MLS Schools

  • School District Name: CAPE HENLOPEN

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 15, 2020
Closed on
Oct 22, 2020
Sold by
Kuebler Marilynn P
Bought by
Gebhardtsbauer Ronald and Lee-Wright Gregory
Seller's Agent
Marilynn Kuebler
Monument Sotheby's International Realty
Buyer's Agent
Jason Lesko
Redfin Corporation
List Price
$599,000
Sold Price
$615,000
Premium/Discount to List
$16,000
2.67%
Current Estimated Value
$856,458

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$241,458
Avg. Annual Appreciation
6.95%

Purchase Details

Closed on
Jun 19, 2012
Sold by
Ralph A Ralph A
Bought by
Kuebler Marilynn P
Source: Public Records

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Gebhardtsbauer Ronald $615,000 None Available
Kuebler Marilynn P -- --
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/23/2020 10/23/20 Sold $615,000 +2.7% $820 / Sq Ft
09/15/2020 09/15/20 For Sale $599,000 -- $799 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

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 $1,608 $18,950 $0 $18,950
2024 $934 $18,950 $0 $18,950
2023 $933 $18,950 $0 $18,950
2022 $901 $18,950 $0 $18,950
2021 $892 $18,950 $0 $18,950
2020 $890 $18,950 $0 $18,950
2019 $513 $18,950 $0 $18,950
2018 $484 $18,950 $0 $0
2017 $466 $18,950 $0 $0
2016 $757 $18,950 $0 $0
2015 $723 $18,950 $0 $0
2014 $718 $18,950 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Marilynn Kuebler

    Seller's Agent in 2020

    Marilynn Kuebler

    OCEAN ATLANTIC SOTHEBYS

    (302) 528-1369

    11 in this area

    22 Total Sales

    Marilynn Kuebler
    Section Image

  • J

    Buyer's Agent in 2020

    Jason Lesko

    Redfin Corporation

    Jason Lesko
    Section Image
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About Patrician Towers

Map

Source: Bright MLS

MLS Number: DESU168582

Bright MLS

APN: 334-14.14-31.00-306

Delaware Sussex County Rehoboth Beach 19971

8 Olive Ave Unit 306, Rehoboth Beach, DE

This home is located at 8 Olive Ave Unit 306, Rehoboth Beach, DE 19971 since 15 September 2020 and is currently estimated at $856,458, approximately $1,141 per square foot. This property was built in 1970. 8 Olive Ave Unit 306 is a home located in Sussex County with nearby schools including Rehoboth Elementary School, Mariner Middle School, and Cape Henlopen High School.

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