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741 & 747 Ocean Boulevard, Rye, NH, 03870 | $6,500,000
Make this 1960s 4-season motor inn your beach home and business. It underwent a complete, historically sensitive renovation in 2021. Completely modernized for today's traveler while reintroducing the on-trend, retro-themed decor, this unique property is poised for continued growth. Offering 12 studio and 1-bedroom units over two structures, these apartment-style rooms provide the flexibility for longer stays as each has its own full kitchen and bathroom. Current ownership operates as a limited service apart-hotel model with year over year growth since opening in 2021. Approvals are in place to add a 1000 sq ft, 2-bedroom apartment above the retail/office space that could serve as owner’s quarters or make the bungalow your home. The oversized, heated pool with spacious deck and bold views to the Isles of Shoals is an ideal for setting for small events. The large, flat yard can accommodate tents, a perfect setting for popular micro-weddings of 30 or less guests. The poolside cabana with bathroom has been designed to accommodate a commercial caterer’s kitchen/bar for event purposes. The property also includes a petite retail/office space that houses the popular boutique: The Swim Shop. Continue to operate this seasonal retail component or lease for additional income. Set across Ocean Boulevard from the ocean and a short walk to Odiorne State Park. Or re-imagine this rare 1. 52 ac. ocean view parcel.
Features
- Rooms: 13
- Bedrooms: 12
- Baths: 12 full / 1 half
- Style: Bungalow
- Year Built: 1960
- Heating: Hot Water,Wall Units
- Cooling: Wall AC Units
- Approx Sq. Feet: 6,684
- Acreage: 1.52
- Est. Taxes: $15,881
- Lot Desc: Beach Access,Landscaped,Water View
- MLS#: 5015046
- Website: https://www.raveis.com
/eprop/5015046/741and747oceanboulevard_rye_nh?source=qrflyer
This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this Site comes in part from the IDX Program of PrimMLS. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 9/21/2024Listing courtesy of Jim Doucette Real Estate, LLC Phone: 603-986-6555
Listing Agent: James Doucette
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Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
741 & 747 Ocean Boulevard, Rye, NH, 03870
$6,500,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $5,200,000 | $5,200,000 | $5,200,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.000% | 5.875% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.963% | 5.983% | 5.805% |
| Monthly Tax Payment | $1,323 | $1,323 | $1,323 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $27,915 | $30,760 | $42,834 |
| Total Monthly Payment | $29,363 | $32,208 | $44,282 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NH Mortgage Banker #11083-MB