Two Unit Vacation Rental Property for Sale Near the Chesapeake Bay!

$599,000
4
2
1,974
sq. ft.
$303
per sq ft
Heated sq ft: 1,974 sq ft
Avg Nightly Rate: $265
Home Legally Sleeps: 8
Occupancy Rate: 0 weeks
Annual Gross Income : 66000
Annual Net Operating Income : 41000
Property Type: Multi-Unit Property (B&B)
Ownership Type: Full (100%)
Seasoned Short Term Rental: Yes
Furnishings Included: Yes
For Sale By: Broker
Seller Financing: No
Niche: Beach
New Construction: Inquire
Days on Vrolio: 38

Property Description

Great Investment Opportunity! This home is an established VRBO currently approved by the Town of North Beach. The new owners will have to submit a short-term rental permit application. New permits are being accepted. There are two separate fully furnished units with private access. Unit details are as follows*** 1st Floor Unit: The first bedroom has a full walk-in closet/ sitting room. Second bedroom with standard closet. Living room with unused fireplace, Dining room off kitchen. The kitchen includes full set of full-sized appliances, Whirlpool stove/oven unit, traditional refrigerator (freezer on top of refrigerator), and dishwater. Also includes stacked compact Bosch washer and dryer. Bathroom full standard bath/shower. Two exterior entrances. ***2nd Floor Unit: The first bedroom is on main floor. The second bedroom consists of an upper-level loft overlooking living room with dedicated heat and air conditioning. The Dining room features large closet with bifold doors. The living room is wide open and has 13' cathedral ceilings. Kitchen features complete set of full-sized appliances including smooth top stove/ oven, large SS french door refrigerator with bottom freezer drawer, dishwasher, and a farm sink. Bathroom features claw foot tub configured for showers or baths. Dedicated laundry room with large closet and stacked full-sized front load Samsung washer and dryer. Bathroom full standard bath/shower. *** A convenient drive from VA, DC, Baltimore, and Annapolis! Enjoy beaches, restaurants, shopping, kayaking, fishing, and much more!

Presented by:
Agent:
Mike Benton
Home Towne Real Estate
Seller Financing
No
Distress Sale
None
Seller Financing Terms
Seasonal Nightly Rates
High: 265
Low: 195
Peak: 265
Special Event: 265
Avarage: 265.00
Furniture Age
Inquire
Est Value of Furnishings
Inquire
Peak & High Seasons
May, June, July, August
Ownership Percentage
Full (100%)
Qualifies for foreign national visa
Not sure
Reason for Selling
While we love managing this property and meeting all the new and interesting people we host, our life and family obligations outside of the Mid-Atlantic area won't allow us to focus the time and energy we feel our guests deserve. We're hoping to find another investor who will be willing to continue building upon the foundation we've worked so hard to create.
Foreign national buyer restrictions from government?
Not sure
Gross Annual Income
66000
Net Operating Income
41000
Stories
2
Additional Indoor Rooms
Other
Appliances
Dishwasher, Dryer, Full stove, Garbage Disposal, Microwave, Oven, Refrigerator, Washer, Other
Heating/Cooling
Electric or Gas Firelace
Floor Coverings
Real Hardwood
Security
No
Security Description
Half Baths
Inquire
Master Suite(s)
Inquire
Energy Efficiency
Year built
1940
Outdoor Features
Other
View
Other
Backyard Exposure
North
Lot Size
Lot is 0.19 acres. 8437 square feet.
Community Features
Other
Tax Amount/Year
$3,400
CDD Amount
Inquire
Neighborhood
Inquire
Deed Restricted Community
No
Interview Required
No
Neighborhood Amenities
Other
Mandatory HOA
Inquire
Home Legally Sleeps:
8
Onsite Parking
Driveway parking.
Neighborhood Association STR Rules
Inquire
Municipality STR Rules
No restrictions documented by owner. Verification recomended
Transferrable Permit or License
Yes, Transfers to new owner
Rental Tax Info
$5.00
Minimum Nightly Rental
No Minimum
Rental Length Requirement
No Restriction
Has Rental History
Yes
Established Rental History
2 Years
Occupancy Rate
0
Being Sold with Bookings
Inquire
Caretaker Info
InquireCaretaker cannot stay and oversee the property
Bookings Placed By
Owner
Managed By
Owner
Management Bookings Percentage
Inquire
Caretaker Bookings Percentage
Inquire
Paid Booking History
Yes
Future Booking Calendar
Management Fees
Inquire
Caretaker Fees
Inquire
Sold with Marketing Collateral
No
Manager Cancellation Policy
 
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Credit Card Fee
Inquire
Cleaning Fee
$80.00
Licesnes & Permits (Annual)
$200.00
Advertising & Tech Costs (Annual)
Inquire
Yard & Pest Control (Annual)
$90.00
Pool & Spa Maintinence (Annual)
Inquire
Electricity (Annual)
$2,700.00
Water/Sewer (Annual)
$740.00
Cable/Interbet (Annual)
$1,500.00
Accounting Fee (Annual)
$1,500.00
Property Taxes (Annual)
$3,400.00
Homeowner's Insurance (Annual)
$2,200.00
Short Term Rental Insurance Rider (Annual)
Inquire
CDD Fee (Annual)
Inquire
Annual Homeowner's Association Dues
Inquire
Additional Membership Fees (Annual)
Inquire
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User understands this calculator is deemed reliable but not guaranteed. Vrolio makes absolutely no guarantees on returns or income. User should do their own due diligence and verify all data before making a purchasing decision. User understands that this is an educational tool only. We therefore accept no liability arising from any reliance made by any user or person to whom this information is made available to. Please use this tool at your own discretion and use caution always before buying any real estate investment.

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Listing Source: Home Towne Real Estate, (410) 610-5614

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