12924 GULF BLVD #502, MADEIRA BEACH, FL, 33708
$749,000
Residential
|
Bedrooms
1
|
Bathrooms
1
|
Living Area
865 Sqft
|
Lot Size
40,089 Sqft
|
Whether you're looking for a dream vacation retreat or a high-performing income property, this top-floor beachfront penthouse at Sandy Shores Condominiums offers the best of both worlds. Zoned for short-term rentals with no restrictions on owner use, this unit generated $73,662 in rental income in 2024—despite reduced bookings after the storms. In the first half of this year (January through June) it produced $43,916. With projected ROI exceeding 9% in 2025, this property is also an ideal 1031 exchange opportunity. The updated one-bedroom, one-bath unit is being sold fully furnished, including linens, cookware, and decor—ready for you or your guests to enjoy immediately. Inside, you’ll find an open-concept living area with sweeping Gulf views, hurricane-impact windows, and a renovated kitchen featuring custom wood cabinetry, quartz countertops, and stainless steel appliances. Step outside and enjoy the heated beachfront pool, grilling area, tiki hut, and bicycle storage—all part of the Sandy Shores amenities. The building has completed all required structural integrity inspections and reserve studies. With fully funded reserves, and recent upgrades including the roof, balconies, resurfaced pool and parking lot, and a backup generator, this is truly a turnkey coastal investment. Located directly on the beach and just steps from John’s Pass Village & Boardwalk, this condo offers unmatched walkability to restaurants, shops, fishing charters, boat rentals, and dolphin tours. It’s also a short drive to St. Pete, Clearwater Beach, and Tampa, making it a top-tier location for visitors and owners alike. This is a rare chance to own a proven, income-producing beachfront condo in one of Florida’s most popular coastal destinations. Schedule your showing today!
Property Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRTB8364902 | Year Built: | 1979 | |
| Appliances: | Dishwasher, Disposal, Microwave, Range, Refrigerator | Association Amenities: | Elevator(s), Pool, Recreation Facilities | |
| Association Fee Includes: | Common Area Taxes, Pool, Escrow Reserves Fund, Insurance, Internet, Maintenance Structure, Maintenance Grounds, Pest Control, Sewer, Trash, Water | Community Features: | Pool | |
| Construction Materials: | Concrete | Cooling: | Central Air | |
| Country: | US | County Or Parish: | Pinellas | |
| Direction Faces: | East | Exterior Features: | Balcony, Outdoor Grill, Sliding Doors | |
| Flooring: | Carpet, Ceramic Tile, Luxury Vinyl | Foundation Details: | Concrete Perimeter, Pillar/Post/Pier | |
| Heating: | Central, Electric | Laundry Features: | Same Floor As Condo Unit | |
| Levels: | One | Listing Agreement: | Exclusive Right To Sell | |
| Occupant Type: | Vacant | Property Sub Type: | Condominium | |
| Property Type: | Residential | Road Surface Type: | Paved | |
| Roof: | Membrane | Sewer: | Public Sewer | |
| Showing Requirements: | Call Before Showing, Call Listing Agent, Lock Box Electronic-CBS Code Required | Special Listing Conditions: | None | |
| Standard Status: | Active | State Or Province: | FL | |
| Utilities: | Cable Connected, Electricity Connected | Water Source: | Public | |
| Waterfront Features: | Gulf/Ocean | Window Features: | Storm Window(s) | |
| Rooms | Rooms | |||
|---|---|---|---|---|
| Living Room: | 16x15 ft | Dinette: | 16x8 ft | |
| Kitchen: | 16x10 ft | Primary Bedroom: | 16x14 ft | |
| Bathroom 1: | 8x5 ft | |||
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