Destin, FL 32541
Property Inquiry
Contact Todd Siegrist about this property!
Property Details
Own the beach and let it pay you back! This isn't just a condo, it's a turn-key business that comes with sunshine, palm trees, and a zero-stress dress code. Fully furnished with views of the Gulf and priced WELL BELOW comparable units, this resort unit brought in about $60,000 in gross income in 2022, proving that beach life can be both relaxing and profitable.Spend mornings with coffee by one of many lagoon-style pools or walk to the shuttle that drops you at the sand. The resort includes a full gym, tennis, pickleball and basketball courts, playground, restaurant, bar, and coffee shop. Inside, the condo feels fresh and inviting with a king master suite, a second bedroom with twin-over-full bunks, updated flooring, and comfortable coastal furnishings. At a purchase price of $300,000, annual expenses (management, HOA, taxes, insurance, and utilities) average around $30,000, leaving about $30,000 in net income. That equals a 10% cap rate and, with standard financing of 20% down ($60,000) at 8% interest, about $9,000 annual cash flow: a 15% cash-on-cash return on day one.
It's the rare mix of lifestyle and numbers that actually make sense. Use it, rent it, or both. This one is clean, proven, and ready to start earning the moment you close.
| UNIT # | 1704 |
| COUNTY | Okaloosa |
| SUBDIVISION | THE PALMS OF DESTIN |
| PARCEL ID | 00-2S-22-2311-0000-1704 |
| TYPE | Condominium |
| STYLE | N/A |
| ACREAGE | 0 |
| LOT ACCESS | N/A |
| LOT SIZE | N/A |
| HOA INCLUDE | Ground Keeping,Management,Recreational Faclty |
| HOA FEE | 3204.56 (Quarterly) |
| UTILITIES | Electric,Public Sewer,Public Water,TV Cable |
| PROJECT FACILITIES | BBQ Pit/Grill,Community Room,Deed Access,Elevators,Exercise Room,Game Room,Handicap Provisions,Pavillion/Gazebo,Picnic Area,Pool,Short Term Rental - Allowed,TV Cable,Whirlpool |
| ZONING | N/A |
| PARKING FEATURES | N/A |
| APPLIANCES | Dishwasher,Disposal,Dryer,Freezer,Ice Machine,Microwave,Oven Self Cleaning,Range Hood,Refrigerator,Smoke Detector,Smooth Stovetop Rnge,Stove/Oven Electric,Washer |
| ENERGY | AC - Central Elect,Heat Cntrl Electric,Water Heater - Elect |
| INTERIOR | Furnished - All |
| EXTERIOR | N/A |
| ROOM DIMENSIONS | Kitchen : 10 x 9 Living Room : 26 x 13 Master Bedroom : 13 x 12 Bedroom : 10 x 12 |
Schools
Location & Map
When heading West along Highway 98 toward Henderson Beach State Park, turn Right onto Indian Bayou Trail. The entrance will be on your right. Resort Main Entrance is on Indian Bayou Trail, Unit 1704 is in the East Tower.