Opportunity and potential come together at this Oak Island property situated on a double lot on the southeast side of E Oak Island Drive. Just a few blocks from the beach access at SE 40th Street, this 3-bedroom, 2-full-bath home offers an appealing location and plenty of possibilities for a buyer with vision. Inside, the home features a spacious living room, kitchen, dining room, two bedrooms, two full baths, and a bright sunroom. The primary bedroom adds character with its vaulted wood ceiling and exposed beams. The home is ready for updating and some care and love, giving a new owner the opportunity to renovate and personalize it to suit their needs. Outside, mature trees provide a shaded coastal setting with a large patio and deck for relaxing and entertaining. A parking pad and driveway, conveniently accessed from SE 37th Street rather than E Oak Island Drive, provide easy off-street parking. Storage is another bonus, with an approximately 158-square-foot enclosed storage area attached to the home as well as a separate approximately 338-square-foot shed. For investors, the .38-acre double-lot configuration adds another interesting dimension. Subject to applicable zoning, subdivision requirements, and approvals, there may be potential to remove the existing home and subdivide the property into two approximately .19-acre buildable lots, creating an entirely different investment opportunity. Whether the goal is to renovate the existing home for a primary residence, second home, vacation property or investment, or explore the longer-term possibilities of the double lot, 3701 E Oak Island Drive offers location, land and potential just a few blocks from the beach.