The Emerald Grande is the gorgeous crown jewel that soars above Harborwalk Village along Destin’s bustling marina. It opened at the height of the real estate boom in 2007 with such high-demand that lotteries were held for buyers to have a first choice of selections. The market changed drastically, so some who bought at peak lost equity and returned them to a bank. Now others have an opportunity to for ownership and acquisition of a rental investment property at a great price.
The Emerald Grande is an architectural masterpiece that resembles a Five Star hotel with an opulent lobby, an elegant restaurant as well as a Fitness Center with saunas, steam rooms, dressing rooms, a private club lounge and an indoor pool. A wraparound open sun deck at the “Grande View” level includes a large pool, an outdoor musical surround sound system, a poolside bar, and two bubbling hot tubs. The stellar panoramic views from the seven-story height are glorious. They include vista views of Holiday Isle, Harborwalk Village, the glistening gulf, East Pass, the National Seashore and the wide expanse of Choctawhatchee Bay.
Emerald Grande includes two luxury towers east and west. The East Tower was sold as timeshares but the sought after West Tower is whole ownership. Half the units here face the interior pool area and the East Tower on the other side, but premium units with larger sizes have spectacular open views of the gulf and bay towards the west.
This three bedroom bank owned unit is in the West Tower is one of them. Two balconies take advantage of these sensational sparkling views, especially around sunset time. It encompasses 1,566 square feet that includes three full luxury baths all of which are en-suite. The open living area has a state of the art kitchen with stainless steel appliances and a stand-up bar topped with mottled granite.
This faces the living/dining area and sliding glass doors that lead out toward the observation balcony. This balcony also has access to one of the Guest Bedrooms. The Master Bedroom has its own private balcony, and an en-suite bath with double granite topped vanities, a corner spa tub, and a separate walk-in shower.
The bank is asking $499,000 for this unfurnished unit, which comes in at $319 per square feet. Two other 1,566 furnished units are available at $539,000 and $599,000. Gross rental income for these units averaged about $60,000 for 2017. It should be noted that there are three two bedroom furnished units with two baths that encompass only 1,249 square feet priced $550,000 to $630,000 with an average list price at $471 per square foot. Obviously, the current list price by the bank is a great value compared to the others available however you must budget for furnishings. Other units listed have 1,626 and 1,736 with four bedrooms/four baths priced from $899,000 to $1,100,000. The total list price average stands at $515 per square foot. There were five condo sales last year that had a median sales price of $525,000 at an average of $414 per square foot.
Contact our Ocean Reef Real Estate Office today at (877) 392-6085 for further details about this great value or to explore other Destin Real Estate opportunities.