8436 Gulf Blvd

Description

Wow! This well-appointed condo is performing well above similar units as a short term rental (2021 gross income was over $61,000, 2022 gross income (bookings through November 1 "blocked after) are $49,000). This 3rd floor condo's balcony has views of the Gulf and Santa Rosa Sound. It comes fully furnished and set up with everything you need to accommodate 6 guests comfortably. Granite kitchen counters and stainless steel appliances make this kitchen a pleasure. 1 (king) bedroom, hallway bunks and 2 twin pull out chairs in the living room as well as 2 full bathrooms make this unit a flexible favorite for guests. Custom arcade gaming console with 300 games for 2 players! Gulf beach access is directly across the street. **Seller can continue management after purchase for 10%** Complex improvements underway are balcony reinforcements, complete paint of exterior of all buildings, sealing of windows and all railings recoated. That is nearly $4M worth of improvements that the current owner is paying assessments for and new owners and their guests will enjoy. Building improvements are scheduled to be completed by November 1 so bookings are blocked after that, ready for new owner. Will consider cash offers or financed with at least 40% down with an approved lender to avoid beach financing pitfalls. Deposit is 8% of offer. This experienced owner/manager of 4 Navarre Short term rentals is offering to help the new owner continue the success of this unit by managing future bookings, cleanings and maintenance for 10%. Owner selling to upsize his investments. Rental history, bookings and expenses available upon request. Don't miss out on this one!