Sold

4725 GULF OF MEXICO DR #308

LONGBOAT KEY FL, 34228

$699,000


$633.15 per sqft

Sold

2 Beds

2 Baths

1,104 sqft

Condo

Built in 1974

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.

A4540738

MLS ID

June 24, 2022

Listed

March 22, 2024

Updated

Map

4725 GULF OF MEXICO DR #308
LONGBOAT KEY FL, 34228

Interior Features

Total Stories

3


Bedrooms

2 Beds


Bathrooms

2 Baths


Interior Features

Ceiling Fans(s), High Ceilings, Living Room/Dining Room Combo, Thermostat, Vaulted Ceiling(s)


Appliances

Dishwasher, Electric Water Heater, Microwave, Range, Range Hood, Refrigerator


Laundry Description

Laundry Room, Outside


Floor Description

Tile


Fireplace

No


Cooling

Yes


Cooling Description

Central Air


Heating

Yes


Heating Description

Central, Electric

Exterior/Building Features

Exterior Features

Balcony, Irrigation System, Lighting, Outdoor Grill, Sidewalk, Sliding Doors, Tennis Court(s)


Lot Features

Flood Zone


Architectual Style

Other


Roof

Built-Up


Sewer

Public Sewer

School Information

High School

Bayshore High


Elementary School

Anna Maria Elementary

Other Property Details

Area Name

34228 - Longboat Key


Taxes

$6,622


Tax Frequency

Annually


Days on Market

26


Association Fee

Not Listed


Association Amenities

Cable TV, Laundry, Pool, Tennis Court(s)


Garage

No


Parking

Assigned, Guest


View

Yes


View Description

Garden, Pool


County

Manatee


Water Source

Public


Pool

No


Waterfront

Yes


Zoning

T6


Buyer Agency Compensation

3%

Listed by Mark Baumgarten, Sandra Appignani with PREMIER SOTHEBYS INTL REALTY
Listing Contact: 941-364-4000 

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