Prime Investment Opportunity: Destin 2BR 1BA Condominium. This first-floor condominium presents a fantastic investment opportunity with NO RENTAL RESTRICTIONS, allowing for flexible income potential. Though it requires upgrades, this unit promises great returns in the sought-after Destin market. It is part of the most affordable complex to own in Destin. All offers are welcome! No Flood Zone!Community Features: gated entrances from HWY 98 and Airport Rd,Access to 3 swimming pools, including one heated, Tennis/pickleball court, EV and a clubhouse for owners. HOA Coverage: The monthly fee covers building insurance and exterior maintenance, water, internet, sewer, trash, landscaping, and maintenance of pools and gates, ensuring low maintenance for the homeowner. See More Section Seller's Motivations and Additional Property Features:
The seller is motivated and willing to assist with closing costs, making this an even more attractive opportunity. Never having occupied the property, the seller has consistently rented it long-term, evidencing its strong rental potential.
The complex offers convenient boat parking exclusively for owners at a minimal monthly fee, catering to those who love boating adventures. Additionally, the on-site laundry facility is undergoing a remodel to enhance its modern look and efficiency.
Located just 0.7 miles from public beach access, this property positions residents right across the street from the Gulf of America. This condominium is in close proximity to popular attractions such as the Morgan Sportsplex, The Track, Big Kahuna Waterpark, and the Sun Destin Hotel featuring the PhatFish Restaurant. These nearby destinations add significant appeal for both residents and potential renters. Within the complex, you'll find Quail Lake, a recently stocked catch-and-release natural aquifer, perfect for leisurely fishing and relaxation.
For sale
$240,000
4000 Gulf Terrace Dr UNIT 112, Destin, FL 32541
2beds
982sqft
Est.:
Condominium
Built in 1973
-- sqft lot
$225,600 Zestimate®
$244/sqft
$625/mo HOA
What's special
Gated entrancesClubhouse for ownersBoat parkingOn-site laundry facilityLow maintenance
- 184 days
- on Zillow |
- 431 |
- 9 |
Zillow last checked: 7 hours ago
Listing updated: July 30, 2025 at 07:43am
Listed by:
Alina Jackson 850-533-7885,
Waves of the Emerald Coast Realty LLC
Source: ECAOR,MLS#: 968843
Originating MLS: Emerald Coast

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 1
- Full bathrooms: 1
Bedroom
- Level: First
Kitchen
- Level: First
Living room
- Level: First
Heating
- Electric
Cooling
- Electric, Ceiling Fan(s)
Appliances
- Included: Dishwasher, Microwave, Refrigerator, Electric Range, Electric Water Heater
- Laundry: Common Area
Features
- Breakfast Bar, Pantry, Bedroom, Kitchen, Living Room
- Flooring: Tile, Carpet
Interior area
- Total structure area: 982
- Total interior livable area: 982 sqft
Property
Features
- Patio & porch: Patio Covered
- Exterior features: Barbecue, Sprinkler System, Tennis Court(s), BBQ Pit/Grill, Dumpster, Tennis
- Pool features: Community, In Ground
- Waterfront features: Waterfront
Details
- Additional structures: Pavillion/Gazebo
- Parcel number: 002S22109501120000
Construction
Type & style
- Home type: Condo
- Property subtype: Condominium
Materials
- Block, Frame, Vinyl Siding
- Roof: Flat,Metal
Condition
- Construction Complete
- Year built: 1973
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Connected, Cable Connected
Community & HOA
Community
- Features: Community Room, Gated, Pool, TV Cable
- Subdivision: Gulf Terrace Condo
HOA
- Has HOA: Yes
- Services included: Maintenance Grounds, Insurance, Internet, Management, Utilities, Sewer, Trash, Water
- HOA fee: $625 monthly
Location
- Region: Destin
Financial & listing details
- Price per square foot: $244/sqft
- Tax assessed value: $230,000
- Annual tax amount: $2,568
- Date on market: 2/18/2025
- Listing terms: Conventional
- Lease term: 7 - 12 Months
- Total actual rent: 1850
- Electric utility on property: Yes
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