The Washout Cottage! 1950s oceanfront cottage ideally nestled between the Atlantic ocean AND the Folly River with unobstructed views of the ocean, river, and marsh. The vintage cottage has been extensively updated but the value is in the LARGE, ONE OF A KIND LOT. The 40' setback rule from the baseline does not affect the buildable area which is rare for oceanfront lots. A massive rock seawall & East Ashley itself provide protection from the ocean. Furthermore, the flood zones are AE 9 & AE 10. This adorable cottage boasts 2 bedrooms and 1 bath, recently updated kitchen, Pecky Cypress ceilings, and an oceanside living room & dining area. A spacious rear screened porch and rooftop deck offer gorgeous sunsets of the marsh and river.Check out the retaining wall along the marsh. A rooftop deck furnished for socializing or sunbathing offers 360-degree views. The views are permanent; building in front or behind this home will not be permitted. Lots of room for creativity- the unforgettable location also provides plenty of parking - and plenty of room- to add a pool on it's spacious lot. Not only is this a terrific lot, the cottage comes fully furnished (with some personal exceptions) and has terrific vacation rental income (over $55,000 in 2019). Since ownership, many improvements have been made: New roof (including sheathing), new high-impact glass windows, new hardi-plank siding, new electrical, new plumbing, new heating, new seawall, new roof insulation, new flooring, new kitchen, new bath,....