20 saint louis street

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 ($110K plus a year. $8-$8.5K a week without pool. $11.5K-$12K a week with pool) ). 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. $1million. For under $4 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 (additional) on the beach block! Basement optional. If you decide to build the addition, your rental income would increase to approximately $25-30K per week ($325-$400K per year annually) based on current comps. Architectural plans included with sale. Optional construction of 6 bedroom, 4 bath at approximately $750K. Plans also attached. Construction completed in 6 to 8 months,