Buy Potential Majestic Sun Rental
Posted by Destin Real Estate Sales on Thursday, June 20th, 2019 at 8:22am.
An established real estate sales trend is continuing to grow in Destin, Miramar Beach, and along Scenic 30A in South Walton due to aging Baby Boomers and others. A significant proportion of the population is thinking more about the value of family time and also making plans for retirement income. The Emerald Coast has become a much sought after well-known destination. The results of this “discovery” are not surprising since the crystalline sugar white beaches and glowing emerald green waters are found hardly anywhere else in the world. Those who have vacationed here over the years are starting to buy places of their own, and many rent them out for lucrative income as well. Property management companies like our sister division Ocean Reef Resorts make it easy to own. Owners use the properties for a few select weeks and rent them out at other times. The property equity continues to steadily escalate while income is paying “dividends” throughout the year.
One such opportunity is a popular vacation destination available at Majestic Sun 905A, a furnished two-bedroom vacation residence that encompasses 1,072 square feet. You have surely seen this architectural masterpiece that towers up across from the sugary shoreline at 1160 Scenic Gulf Drive in Miramar Beach. The Majestic Sun resembles a giant manmade sandcastle with a soaring arch that goes right through the building’s center.
Beneath this arch is an indoor acclimatized swimming pool with a dramatic cathedral ceiling and a wall of glass that faces the beachside pool. The large outdoor pool includes an expansive sun deck patio with bubbling hot tubs and provides panoramic views of the glittering jewel toned gulf. A glass-walled fitness center also looks out upon this sparkling scenery. It is within walking distance to restaurants on the Gulf, near shopping outlets and grocery stores. Abundant amusements like championship golf or tennis are near as the Majestic Sun is the flagship building on the lushly landscaped lagoon studded Seascape Resort.
This vacation residence has an open living area that’s open to a breezy balcony, which provides breathtaking direct gulf views along with the wide white ribbon of beach beside it and the pool below.
White tile flooring in the living area and cream colored custom cabinetry in the open kitchen accentuate a spacious look along with a triple set of sliding glass doors that frame the gorgeous gulf views. A silver-gray leather couch, a white café type dining table with four chairs and tropical silk plants provide a casual coastal feel.
Two bedroom properties of this one can sleep up to eight people with the added use of hall bunk beds, and a queen sized sleeper sofa. The professional rental estimate for this property shows a strong Return on Investment (ROI) with a projected gross income of just under $40,000. This unit is priced “as is” for $430,000 coming in at $401.11 per square foot. Currently, there are four two-bedroom properties for sale at Majestic Sun priced from $430,000 to $499,900 averaging 429.80 per square foot. There are a total of four additional properties for sale with one to four bedrooms priced from $412,000 to $1,250,000.
Contact our Ocean Reef Real Estate Office today for complete details, the professional summary of the rental projection and a complimentary comparative market analysis at 877-392- 6085.