Attention Vacation Rental Property Investors! A unique lucrative opportunity to own a six-unit gulf front condominium complex in Destin's Crystal Beach has recently become available for sale. These attached individual units are perched upon a sugary dune with access to the private shimmering shoreline. The current owners use the fabulous beachfront unit for themselves while the other five are available for vacation rentals throughout the year. A recent Rental Management Estimate for the coming year shows a profit of $40,000 per unit, which comes out to a $200,000 total for five units. This is not surprising due to the beachfront amenity and awesome sought after location in Crystal Beach. The prestigious residential community is located along Scenic Highway 98 bordering Destiny towards the East and the expanse of Henderson Beach State Park towards the West. It is just a few blocks due south of the giant Disneyesque retail shopping village of Destin Commons, which is a popular destination that features with a myriad of designer clothing shops, specialty boutiques, great restaurants, bars and a state of the arts Multiplex Theater. Other nationally known restaurants, grocery stores, and abundant amusements are also very close by. This point near the Mid Bay Bridge and Emerald Coast Parkway intersection is centered about half way between Destin and Miramar Beach placing visitors a relatively short distance away from Harborwalk Village on the Destin Marina along with family fun at the charming village of Baytowne Wharf at Sandestin.
The palm-studded complex has a distinctly upscale look due to the chateau styled teal green metal roofing which richly compliments the creams and salmon colored exterior walls. It is set among neighboring opulent multi-million dollar beachfront mansions. Each individual two story unit has approximately 871 square feet with two bedrooms on the first floor and an open Great Room living area on the upper level that has balconies overlooking the gorgeous gulf in the distance. These are comfortably furnished and beautifully appointed with the use of granite countertops and soaring vaulted ceilings which are adorned with a rich blend of hardwoods.
The owner’s sunny unit faces the glittering gulf directly and includes double beamed ceilings, a state of the art kitchen, two sets of balconies, a covered beachfront patio and multiple windows viewing the sensational scenery. All units are just steps away from the white bright beach.
This six unit condominium complex in Crystal Beach is listed at $3,650,000. Currently, there are 16 condominiums for sale in this community that range in price from $265,000 for a one bedroom 755 square foot unit up to $1,199,500 for a six bedroom unit with 2,907 square feet. Not all of them have beachfront locations. The average price for condominiums listed for sale in Crystal Beach average $519,213 per unit with an average of 1,141 square feet. The average list price comes in at $455.40 per square foot.
Contact our Ocean Reef Real Estate Office today at (877) 392-6085 for a complimentary Comparative Market Analysis, a professional consultation and more detailed information on this unique rental investment opportunity.