This extensively updated condo has a kitchen with granite countertops and contemporary cabinets, fully updated bathrooms with granite, tile flooring throughout with sound insulation. New AC in 2017, new water heater Dec. 2018. This condo will surprise you with even a peak of the Gulf. The balcony is sizable and its square shape 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 and illuminated landscaping, tennis court, pool, shuffleboard, a barbecue area at the beach and its own private beach with lounge chairs and showers. The condo also serves as a great investment since the association allows a three-night minimum stay and runs an on-site vacation rental management. Perfect investment with a cap rate of almost 6 % in 2018 with 31 days owner use. This unit has an amazing rental history with lots of repeat customers. The net operating income in 2018, even with 31 days owner use, was $ 29,557. Excellent online reviews. No need to worry about the future: The whole building went through an extensive reconstruction in 2008 and is very well prepared for the next decades to come. 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.*Listing provided courtesy of the MLS.
Listings provided courtesy of the MLS.
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