500 Estero BLVD #494 Active Save Request In-Person Tour Request Virtual Tour
Fort Myers Beach,FL 33931
Key Details
Property Type Condo
Sub Type High Rise (8+)
Listing Status Active
Purchase Type For Sale
Square Footage 949 sqft
Price per Sqft $894
Subdivision Gateway Villas
MLS Listing ID 225039451
Bedrooms 2
Full Baths 2
Condo Fees $781/mo
Year Built 1979
Annual Tax Amount $3,012
Tax Year 2024
Property Sub-Type High Rise (8+)
Property Description
2 bed/2 bath DIRECT GULF FRONT Condo with a combination of a great northend beach location, popular floorplan, favorable rental rules, and owners are allowed pets. Gateway Villas on the northend of Fort Myers Beach has been a popular building with a gated entrance and lots of parking. The building was a highly sought location pre-Ian and will be even better once construction is completed in June/July 2025. INVESTORS - the building allows 7 days minimun rentals. This 4th floor unit had some damage and drywall was replaced as needed and electrical switches were replace wherever the drywall was replaced. The kitchen cabinets were recently removed and the cast iron plumbing in the kitchen was replaced. ALL new IMPACT sliders and windows; new air conditioner; and new water heater. New White Shaker Cabinets for kitchen included (buyer will need to install). The corner unit is light and bright with extra windows and TWO balconies - one overlooks the beach and ocean; the other overlooks the bay and beach. This 2 bed / 2 bath unit will make a great personal residence or provide a sizable investment income. The building has 46 units over 8 floors. The building is in the final stages of repair and will feel brand new with new waterproof electirical room, refurbished pool area, new elevators (2 elevators), new roof (2023), and new landscaping. Maintenance fees of $781 per month include internet, unit water, building insurance and professional mgmt, and an on site maintenance manager. The building is planned to be ready for OWNER OCCUPANCY in June / July 2025. The Milestone Inspection is done and the repairs are in the final stage of completion and will see the building through to the next inspection in 10 years. The owners received 70K pre -Ian in rental income (after all rental expenses) and this is projected to 100K in 2026 (proforma attached). SOLD AS IS. A couple photos show NOW, most show pre-IAN and others show a recent remodel of the same type of unit. The current bathrooms and tile floor look to be usable - owner can opt to just update the kitchen and paint the unit or do a full remodel. Construction site -- Need closed toed shoes, hard hat, reflective vest and signed waiver to visit the site. Owner/agent will meet you there with necessary equipment.
Location
State FL
County Lee
Area Fb01 - Bodwitch Pointe To Cresce
Rooms
Dining Room Breakfast Bar,Dining - Family
Interior
Heating Central Electric
Cooling Central Electric
Flooring Tile
Laundry Common Area,Washer/Dryer Hookup,Inside
Exterior
Exterior Feature Outdoor Shower
Community Features Beach - Private,Beach Access,Pool,Private Membership,Gated
Utilities Available Cable Available
Waterfront Description Gulf Frontage,On the Gulf Beach
View Y/N No
View Gulf,Gulf and Bay
Roof Type Built-Up or Flat
Building
Lot Description Dead End
Building Description Concrete Block,Piling,Concrete,Stucco, Elevator
Sewer Central
Water Central
Structure Type Concrete Block,Piling,Concrete,Stucco
New Construction No
Others
Acceptable Financing Buyer Finance/Cash,Seller Pays Title
Listing Terms Buyer Finance/Cash,Seller Pays Title