A unique and potentially lucrative opportunity has just become available for savvy real estate investors in Miramar Beach who are looking for substantial vacation rental property income. This gorgeous gulf front duplex is located in one of the area’s most established residential communities and has just been listed by our Ocean Reef Real Estate Office. The gracious, hospitable home was distinctively designed to serve as a duplex for rental income and is a sought-after vacation rental property managed by Ocean Reef Resorts.
Gross rental income for 2017 totaled at $184,000 and the owner saved some weeks for themselves. The 2018 gross income totals are scheduled to surpass that mark since it is already at $156,000 and climbing! Its popularity comes from the magnificent location at Tang O Mar on the crystalline sugary shoreline that overlooks the jeweled waters of the glowing gulf in the heart of Miramar Beach. It is west of the Sandestin Resort, which is just a short stroll away down the beach.
The residence has the advantage of being marketed three different ways as a three or four bedroom duplex or a complete seven bedroom vacation rental home. The interiors can interconnect if a group wants to rent out both sides of the home. Such flexibility appeals to a wide range of visiting guests. The east side offers four bedrooms and two separate living areas located on the first and second floor levels. Balconies span the width of this beautifully appointed comfortable residence which comes completely furnished.
The main living and dining areas of both are open to the state of the art kitchen that includes stainless steel appliances with a richly mottled granite-topped bar for extra seating. The west side of the house has three bedrooms and offers enchanting sunset views, and the single living area takes full advantage of the sensational scenery.
This property is in high demand because it’s nestled away on the beach but is minutes away from the best that Miramar Beach has to offer including popular restaurants and friendly beach bars along Scenic Gulf Drive. Grocery stores, wine bistros and the famed discount designer stores at Silver Sands Premium Outlets are nearby. Restaurants, lively bars, boutiques, galleries, seasonal festivals, free concerts, delightful adult diversions as well as lots of amusements for the kids are also close by at Sandestin’s Grand Boulevard and Baytowne Wharf.
Currently, there are only six gulf front properties for sale in Miramar Beach with prices ranging from $2,095,000 for this 3,816 square foot seven bedroom duplex home up to $3,500,000 for a six bedroom 5,214 square foot home. These individual home prices come in at $489 psf for a nine-bedroom 6,120 square foot home priced at $2,994,000 up to $2,200 psf for a three bedroom 1,500 square foot home. The average price per square foot for all gulf front residential properties stands at $656 psf. This duplex home with seven bedrooms and 3,816 square feet is listed at $2,095,000 at $549 psf.
If you are fortunate enough to take advantage of this excellent investment opportunity, contact our Ocean Reef Real Estate Office today at 877-392-6085 for detailed information about this property, its official rental history and schedule a tour.