2361 Sandfiddler Road - AD #: RS334

This is a large semi-oceanfront lot in the highly desirable north end of Sandbridge Beach in Virginia Beach, Virginia.  The lot measures 100 feet wide by 150 feet deep.  I had a house on this property up until last month, when I decided to remove the existing house in order to sell the lot or to build a new house.  The city has already approved our plans to raise the lot up 4 feet higher and to build a 3 story 10 bedroom 9 bathroom beach house. The site plan has already been submitted, reviewed, and appoved.  It is valid for five years, so all that is left is to pull a building permit and build!  We currently have architectural plans that stipulate a structure of approximately 4000 square feet, 3 stories high, with 10 bedrooms and 9 bathrooms.  We are adding about 1100 square feet of decking to enjoy the sun and to capture the ocean views.  We are installing a large inground saltwater swimming pool with a cabana and outdoor shower.  The whole house will be tastefully furnished and will include wall-mounted flat screen televisions, billiards table, and foosball table.  Once completed, the house is reasonably expected to appraise at $1,500,000 and to bring in at least $120,000 in annual rent, probably more.  I personally own another home on the same street that fits these criteria and it is booked for $130,000 rent this year.  Anyway, the lot price by itself is $795,000, which I am taking a loss for.  With the above described house built on it the total price is $1,395,000.  Or I can build whatever you like.  Please feel free to call me with any questions.  Thank you.

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