Profitable Short-Term Rental - No Milestone Inspections Required! Looking for an investment property that actually makes financial sense? This turnkey one-bedroom condo in Gulf Terrace generated about $35,000 in gross rental income in 2024 and is exempt from costly Milestone inspections! Located in the heart of Destin, Gulf Terrace offers an unbeatable location with 26 acres of beautifully manicured grounds, featuring three pools, two tennis courts, and a spring-fed lake for a fantastic view. This fully furnished condo comfortably accommodates up to six guests with a king bed in the master and a queen sleeper sofa in the living room. Enjoy lake views from the spacious patio, easy access to the pool, and a bright, open living area. Whether you're looking for a high-performing rental, a vacation getaway, or a primary residence, Gulf Terrace 131 checks all the boxes. Plus, you're just minutes from Destin Commons, world-class dining, and sugar-white beaches. Don't miss this profitable and hassle-free opportunity! Schedule your showing today!
For sale
Price cut: $500 (8/1)
$238,500
4000 Gulf Terrace Dr UNIT 131, Destin, FL 32541
1beds
780sqft
Est.:
Condominium
Built in 1973
-- sqft lot
$224,100 Zestimate®
$306/sqft
$600/mo HOA
What's special
Three poolsTwo tennis courtsFully furnished condoTurnkey one-bedroom condoSpring-fed lakeSpacious patio
- 150 days
- on Zillow |
- 286 |
- 18 |
Zillow last checked: 7 hours ago
Listing updated: August 01, 2025 at 06:39am
Listed by:
The White Sands Team 850-259-5180,
Levin Rinke Realty
Source: ECAOR,MLS#: 970919
Originating MLS: Emerald Coast

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 1
- Bathrooms: 1
- Full bathrooms: 1
Primary bedroom
- Level: First
Primary bathroom
- Features: MBath Tile
Bathroom
- Level: First
Kitchen
- Level: First
Living room
- Level: First
Heating
- Electric
Cooling
- Electric
Appliances
- Included: Dishwasher, Dryer, Microwave, Refrigerator, Electric Range, Washer, Electric Water Heater
- Laundry: Common Area
Features
- Breakfast Bar, Crown Molding, Dining Room, Full Bathroom, Kitchen, Living Room, Master Bedroom
- Flooring: Tile
- Windows: Window Treatments
- Furnished: Yes
Interior area
- Total structure area: 780
- Total interior livable area: 780 sqft
Property
Parking
- Total spaces: 2
- Parking features: Open
- Has uncovered spaces: Yes
Features
- Stories: 1
- Patio & porch: Patio Covered
- Exterior features: BBQ Pit/Grill, Dumpster, Tennis
- Pool features: Community
- Has view: Yes
- View description: Lake
- Has water view: Yes
- Water view: Lake
- Waterfront features: Lake Front
Details
- Additional structures: Pavillion/Gazebo
- Parcel number: 002S22109501310000
Construction
Type & style
- Home type: Condo
- Property subtype: Condominium
Materials
- Vinyl Siding
- Roof: Metal
Condition
- Construction Complete
- Year built: 1973
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Connected
Community & HOA
Community
- Features: Community Room, Gated, Picnic Area, Pool, TV Cable
- Security: Smoke Detector(s)
- Subdivision: Gulf Terrace Condo
HOA
- Has HOA: Yes
- Services included: Accounting, Maintenance Grounds, Insurance, Internet, Master Association, Recreational Faclty, Sewer, Trash, Cable TV, Water
- HOA fee: $600 monthly
Location
- Region: Destin
Financial & listing details
- Price per square foot: $306/sqft
- Tax assessed value: $205,000
- Annual tax amount: $2,448
- Date on market: 3/12/2025
- Listing terms: Conventional,FHA,VA Loan
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