4725 Gulf Of Mexico Dr #308, Longboat Key, Florida
List Price: $719,000
MLS Number: A4540738

Opportunity to invest in a vacation rental on Longboat Key that allows rentals with a 3-day minimum lease managed by on-site management. No cap on owner usage so you can also use it extensively yourself. This top-floor condominium with vaulted ceilings has updated bathrooms and tile flooring throughout. It even offers a peek of the Gulf from the sizable balcony. It comes turnkey furnished. Sand Cay is a beautiful Gulf-front beach resort with lush, tropical landscaping, tennis court, pool, shuffleboard, a barbecue area, lounge chairs and showers on the beach. No need to worry about the future. In 2008 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 condominium fees feeds a reserve fund. On-site management fees are 18 % if on-site management brings the guest and 15% if the owner provides a guest. Reported revenue in 2021 was $36,181. Zota Beach Resort with a bar and restaurant is next door. Publix, Walgreens, banks, post office and restaurants are close by on the Key. A 15-minute drive brings you to St. Armands Circle, a 20-minute drive to downtown Sarasota.