20842 East Dr UNIT 524, Rehoboth Beach, DE 19971

Location, location, location! This unit is priced to sell. It was tenant-occupied for many years and is now waiting for you to make your personalized improvements. Less than a half mile to the pristine beaches of the Atlantic Ocean. It is conveniently located between Dewey Beach & Rehoboth Beach. First floor and no stairs. Premium location overlooking a lovely pond with a fountain. Double sliding doors give access to your spacious patio. The open floor plan is anchored with a real wood-burning fireplace—a rare find in a condominium. The primary bedroom features an en-suite full bath. There is a powder room off the foyer. A full laundry room also serves as a pantry. Right outside the unit is a private storage closet. Several feet away is your assigned parking space and mailbox. Open guest parking is available. Spring Lake is a beautiful community featuring open space, a spring-fed lake, a pond, mature trees, and a community pool. Discover what coastal Delaware offers: miles of pristine beaches, no sales tax, low property taxes, and a Mid-Atlantic climate. The quarterly assessments consist of an operating assessment of $965, a reserve assessment of $360, and a trust assessment of $125, totaling $1,450 due quarterly. (2025 amount) There is an annual painting reserve assessment of $375 (2025 amount) billed with the first quarter assessments in December, bringing the first quarter assessment to $1,825, with the subsequent quarters staying at $1,450. There is a one-time working capital contribution payment due from the buyer directly to the Spring Lake Community Trust upon sale of $2,250 (2025)