253 Open Gulf Street
About This Property
From the second-floor living space of the beach house your eyes are immediately drawn to the wall of large windows and the emerald green waters beyond. Open concept with a light and airy feeling, the living/kitchen/dining/wet bar is a natural gathering space. Open the French Doors and let in the warm salt air breeze or step out onto the deep balcony. The living room features a gas.. fireplace surrounded by built-in shelves. The newly updated kitchen features white cabinets, a quartz countertop and new stainless steel appliances. New hardwood flooring is strikingly present in both homes. The third floor has 2 gulf front bedrooms complete with private baths and a shared gulf front balcony. A bonus area on the third floor has been made into a bunk room, but can easily be converted to an office space. The entire fourth floor is a master retreat fit for a king, complete with a sitting area, wet bar with a wine fridge, walk-in closet, a private bath with dual vanities and an oversized walk in shower, and a private balcony. All floors are easily accessed by the elevator. The first-floor area has an owner's closet and laundry room with access to the private pool and outdoor covered patio area. The patio area has a BBQ and a bar area complete with a fridge.
Gulf Splendor's guest house has 4 bedrooms and 4.5 baths. The main floor has a bedroom with private bath. The second floor is an open concept living, dining and kitchen area, all newly renovated. The living room also has a wet bar area complete with a wine fridge and sink. Step out onto the balcony from the second floor to a private pool and gulf views. There is also a half bath and laundry room on the second floor. The third floor has 3 bedrooms. The front 2 bedrooms have gulf views and private baths with the third bedroom being a bunk room with private bath.
Call today for a private showing.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
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Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Nov 8, 2018 | No longer available | - | |
| No longer available | |||
| Nov 6, 2018 | Sold | ||
| Sold | |||
| Jun 7, 2018 | Relisted | $2,749,999 | |
| Relisted | |||
| Jul 30, 2017 | Listed | $2,749,999 | |
| Listed | |||
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Old Florida living meets today's coastal design. Comprised of 2 homes, the fully renovated 'Gulf Splendor' masters beachfront living. The gulf front, 4-story beach house provides endless gulf views and the 3-story guest house on the street side offers additional space along with corridor views of the gulf. Both homes include private swimming pools. Rental projections are $280K+ annually for the combined homes. From the second-floor living space of the beach house your eyes are immediately drawn to the wall of large windows and the emerald green waters beyond. Open concept with a light and airy feeling, the living/kitchen/dining/wet bar is a natural gathering space. Open the French Doors and let in the warm salt air breeze or step out onto the deep balcony. The living room features a gas fireplace surrounded by built-in shelves. The newly updated kitchen features white cabinets, a quartz countertop and new stainless steel appliances. New hardwood flooring is strikingly present in both homes. The third floor has 2 gulf front bedrooms complete with private baths and a shared gulf front balcony. A bonus area on the third floor has been made into a bunk room, but can easily be converted to an office space. The entire fourth floor is a master retreat fit for a king, complete with a sitting area, wet bar with a wine fridge, walk-in closet, a private bath with dual vanities and an oversized walk in shower, and a private balcony. All floors are easily accessed by the elevator. The first-floor area has an owner's closet and laundry room with access to the private pool and outdoor covered patio area. The patio area has a BBQ and a bar area complete with a fridge. Gulf Splendor's guest house has 4 bedrooms and 4.5 baths. The main floor has a bedroom with private bath. The second floor is an open concept living, dining and kitchen area, all newly renovated. The living room also has a wet bar area complete with a wine fridge and sink. Step out onto the balcony from the second floor to a private pool and gulf views. There is also a half bath and laundry room on the second floor. The third floor has 3 bedrooms. The front 2 bedrooms have gulf views and private baths with the third bedroom being a bunk room with private bath. Call today for a private showing. The manager has listed the unit size as 5026 square feet.
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| Mar 7, 2017 | Listed by Keller Williams Realty Destin | $2,749,999 | |
| Listed by Keller Williams Realty Destin | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017