Immaculate. 6.7 % cap rate in 2018. Plentiful booked for 2020 already. This extensively updated condo has a kitchen with granite countertops and contemporary cabinets, fully updated bathrooms with granite, tile flooring with sound insulation. New AC in 2017, new water heater 12/2018. This condo even offers a peek of the Gulf. The balcony is sizable and allows up to six to sit comfortably. It comes fully furnished and extremely well maintained. Sand Cay is a beautiful and immaculate Gulf-front beach resort with lush, tropical landscaping, tennis court, pool, shuffleboard, a barbecue area at the beach and its own private beach with lounge chairs and showers. This condo serves as a great investment since the association allows a three-night minimum stay and runs an on-site vacation rental management. Perfect investment. This unit has an amazing rental history with lots of repeat customers. The net operating income in 2018, even with 31 days of owner use, was $ 29,557 which yielded a 6.7 % cap rate. Excellent online reviews. No need to worry about the future: The whole building went through an extensive reconstruction. This included building anchoring, exterior walls, windows, doors, stairways, walkways and steel beams. The owner paid about $85,000 special assessment! Additionally, in 2016 a new metal roof was installed. In order to avoid special assessments in the future a big share of the condo fees feeds a reserve fund.
Cable Available, Electricity Connected, Public
Elevators, Laundry Facility, Pool, Shuffleboard, Tennis Courts, Buyer Approval Required, Deed Restricted, Water Access, Waterfront
Flood Zone, In City Limits, Level, Near Golf Course, Garden View, Pool View, Water View
Ceiling Fans(s), Window Treatments
Dishwasher, Disposal, Electric Water Heater, Microwave, Range, Refrigerator
Balcony/Sun Deck, Tennis Court(s), Trees/Landscaped
|Price Reduced||$439,000||$30,000 (6.40%)|
|Price Reduced||$469,000||$30,000 (6.01%)|
|Price Reduced (from $549,000)||$499,000||$50,000 (9.11%)|
Listing information courtesy of Premier Sothebys Intl Realty.
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Listing data comes from My Florida Regional MLS DBA Stellar MLS.
Listing information last updated on October 22nd, 2019 at 10:44am EDT.