2507 E Oak Island Dr, Oak Island, NC 28465

Property Description

Why choose between your own beach retreat and an investment opportunity when you can explore both? This beautifully renovated 5-bedroom, 3-bath Oak Island home offers two distinct living areas, exceptional flexibility, and the opportunity to enjoy coastal living while potentially generating rental income. Situated on pilings outside the designated flood zone and just a short stroll from the beach, the home features a bright, open main level with 3 bedrooms, 2 full baths, and a beautifully updated kitchen with new granite countertops, refreshed cabinetry, and luxury vinyl plank flooring. An expansive wrap-around porch invites you to relax and enjoy the coastal breezes. Downstairs, a separate 2-bedroom, 1-bath living area features its own entrance, kitchenette, comfortable living space, and updated LVP flooring. The previous owner lived upstairs while renting the lower level for a reported $1,800 per month, creating an appealing opportunity for buyers interested in combining personal use with potential rental income. Additional highlights include no HOA, a one-car garage, generous parking for vehicles and boats, and flexible storage space. Enjoy convenient access to the beach, Middleton Park, restaurants, and island shops. Whether you're seeking a primary residence, vacation getaway, or investment property, this versatile coastal home offers possibilities beyond the ordinary. Short-term rental income potential may provide additional opportunities, subject to local regulations and independent verification. Rental History & Investment Potential: Previous owner reportedly occupied the upper level and rented the separate 2BR/1BA lower-level accommodations long-term for $1,800/month ($21,600 annualized gross income). Short-term vacation rental projections reportedly exceed $50,000 in potential annual gross revenue. Income is not guaranteed. Buyers should verify permitted rental use, legal bedroom count, applicable regulations, and projected income. LSV / Golf Cart Access: Portions of E. Oak Island Drive restrict Low-Speed Vehicle travel. A potential alternative route via E. Palm Island Drive, 26th Street, Yacht Drive, and SE 40th Street toward the beach has been identified but has not been independently verified. Buyers and agents should confirm permitted routes with the Town of Oak Island.