Gulf Place Condo with Great Rental Potential
Posted by Destin Real Estate Sales on Thursday, December 12th, 2019 at 8:11am.
It's common for real estate investors along the coast of Northwest Florida to purchase properties to use them for family trips to the beach occasionally and to rent them out the rest of the time. Threefold benefits include a place for personal vacations, extra annual income, and steadily rising property equity.
An affordable one bedroom fully furnished condo has just become available in the Santa Rosa Beach town center of Gulf Place, providing a great opportunity to achieve such benefits. This gulf view vacation residence can sleep at least four since besides the nice queen-sized bed in the Master Suite, it includes two colorful bunks tucked in off the hallway. Our highly regarded Ocean Reef Resorts division professionally manages such properties and takes care of everything for new owners. This includes extensive marketing, reservations, accounting, laundry services, toiletries, and cleaning. A comparable Gulf Place property that we manage has a current gross of $21,773, with an annual projected revenue estimate of $24,689.
This is not surprising since owners and guests love Gulf Place. It serves as the hub of Santa Rosa Beach with lots of amenities, including the use of three swimming pools, a bubbling Hot Tub, immediate deeded beach access in front of the community, and three tennis courts. One of the pools is directly in front of this residence, which is adorned with tropical palm trees and a lagoon with a fountain that is beautifully lighted at night. Gulf Place hosts Sunrise coffee house, The Perfect Pig Grill and Fish House, Pizza by the Sea, La Playa Coastal Cantina, along with the Skunk Gulley Liquor & Wine Store. It also features a florist, caterer, vet, pet store, clothing boutiques, and galleries. A large palm-lined grassy lawn amphitheater features live open-air concerts and fun seasonal festivals throughout the year.
This vacation residence for sale at 145 Spires Lane #303 in the Gulf Place Caribbean is decorated with Floridian flair featuring sea life sculptures and vibrant wall prints of the gorgeous beach. The open living area includes a beach washed hardwood tiled floor and a wall of sliding glass balcony doors that frame views of the distant gulf flanked by palms. Balcony furnishings allow you to enjoy the sensational tropical seascape firsthand. A salmon toned couch and two sleek, chic lounge chairs face these views as well as a TV for entertainment.
The open kitchen features brushed stainless steel appliances and walls of creamy cabinetry for treats. A half bath powder room is off the hallway near the bunk bed nook while a full en suite bath is included in the handsome Master Bedroom, which has a sunny window and a wall-mounted TV for nighttime viewing pleasure.
This condo is offered at $334,000, with only two other one-bedroom units currently for sale here. Since the first of the year, seven one-bedroom condos have sold here, ranging from $279,000 to $340,000.
Call our Ocean Reef Real Estate Office at 877-392-6085 for complete details, important rental data history, and schedule a tour today!