4725 Gulf Of Mexico Dr #212, Longboat Key, Florida
List Price: $439,000
MLS Number: A4414979

  • Status: Sold
  • Sold Date: Dec 12, 2019
  • DOM: 322 days
  • Square Feet: 1071
  • Bedrooms: 2
  • Baths: 2
  • City: LONGBOAT KEY
  • Zip Code: 34228
  • Year Built: 1974
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.

Misc Info

Subdivision: Sand Cay A Condo

Annual Taxes: $6,440

Water Front: Gulf/Ocean

Water View: Gulf/Ocean - Partial

Water Access: Gulf/Ocean

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    Sold Information

    CDD: $439,000

    Sold Price per Sqft: $ 409.90 / sqft

    Home Features

    Appliances: Dishwasher, Disposal, Electric Water Heater, Microwave, Range, Refrigerator

    Flooring: Porcelain Tile

    Air Conditioning: Central Air

    Exterior: Balcony, Tennis Court(s)

    Garage Features: Assigned, Open

    Room Dimensions

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