4000 Gulf Terrace Drive UNIT 122
Destin, FL 32541
$250,000
Active
Description
INVESTOR OPPORTUNITY IN THE HEART OF DESTIN! Unit 122 at Gulf Terrace offers an exciting opportunity for first-time investors or savvy buyers looking to create value in one of the Emerald Coast's most popular vacation destinations. Bring your vision and add your personal touch to this condo while exploring its potential to build equity and generate vacation rental income. Updated comparable units have demonstrated **proven gross rental income of approximately $67K annually**, offering an attractive benchmark for investors considering the possibilities here. 2025 Actual Gross Income $55,790 2026 Actual Gross Income YTD over $51K
Ideally located in the heart of Destin, Gulf Terrace puts you close to the area's most popular attractions, including Big Kahuna's Water & Adventure Park, the Destin Harbor, world-class fishing, beautiful Gulf beaches, shopping, dining, and entertainment. The gated community features 3 swimming pools (1 heated), tennis courts, pickleball and beautifully maintained grounds, adding to its appeal for vacation guests and owners alike.
Whether you're purchasing your first investment property, expanding your portfolio, or looking for a beach getaway with income-producing potential, this is your chance to enter the Destin market at an appealing price point and make it your own. Bring your vision and discover the possibilities at Gulf Terrace!
Listing details MLS# 1013697
Location, Tax and Legal
- Area
- 14 - Destin
- Sub area
- 1403 - Destin Northwest
- Subdivision
- GULF TERRACE CONDO
- County
- Okaloosa
- Parcel ID
- 00-2S-22-1095-0122-0000
- Tax year
- 2025
- Annual tax
- 2546.36
- Legal description
- Gulf Terrace Unit 122
General Property Info
- Property type
- Residential
- Year built
- 1973
- Stories
- 2
- New construction
- No
- Condition
- Needs Work, Construction Complete
Interior
- Bedrooms
- 2
- Bathrooms
- 1
- Full baths
- 1
- Half baths
- 0
- Building area
- 1050
- Heating
- Central
- Cooling
- Ceiling Fans, Central Air
- Flooring
- Floor Tile, Floor Vinyl
- Interior features
- Owner's Closet, Split Bedroom, Washer/Dryer Hookup
- Appliances
- Dishwasher, Disposal, Dryer, Microwave, Refrigerator W/IceMk, Smooth Stovetop Rnge, Stove/Oven Electric, Washer, Water Heater - Elect
- Total rooms
- 5
Exterior and Site
- Construction
- Concrete, Frame, Stucco
- Roof
- Roof Metal
- Exterior features
- Sprinkler System
- Pool
- No
- Pool features
- Pool Type
- View
- Lake
Utilities
- Utilities
- Electric, Public Water, TV Cable
- Sewer
- Public Sewer
Schools
- Elementary
- Destin
- Middle school
- Destin
- High school
- Destin
Association and Fees
- Association
- Yes
- Fee includes
- Accounting, Ground Keeping, Land Recreation, Legal, Management, Recreational Faclty, Security, Sewer, Water, Cable TV, Trash
Remarks and Misc
- Directions
- From 98 turn North into the gated community of Gulf Terrace. Turn Right and follow the road around to the Right. Building 6 is located on the Left next to the community pool.
