Blind Pass #C106, 5117 Sea Bell Rd
Lowest-Priced Near-Beach 2 Bedroom
Roomy split-plan ground-level 2-bedroom 2-bath condo with screened lanai.
Just steps from community clubhouse, office, & pool.
Building C is on the inner less-traveled side of the Blind Pass community with convenient assigned covered parking.
Currently empty & down to stud walls with new impact windows & doors coming soon.
Roof work is done while inside sound-proofing insulation is being installed between the floors.
After that, the COA insurance is covering completion of the “white box” interior with new HVAC, walls, floor coverings, cabinetry, & builder-grade appliances. (Washer & dryer not provided.)
Priced for the buyer willing to wait for restoration & buyer to furnish. No firm completion scheduled, but likely early 2024.
Still time for new owner to customize the final floorplan & finishes.
Seller has used as a winter retreat, vacation rental, & for guests.
Prior to storm was in on-site rental program which has a 7-day minimum except over Memorial Day, July 4th, & Labor Day weekends when a 3-day applies.
Last full year in 2021, grossed $36,131. In 2022 prior to storm, earned $33,106.
Since Hurricane Ian caused damage to community amenities not covered by their insurance, i.e. general use areas like the bridge over Clam Bayou to gulf beach, landscaping, etc., the COA levied a $19,500 special assessment (already paid).
A 2nd assessment for $3,500 is expected to be due Nov 1 to cover the soundproofing work underway (Seller to also pay this).
2023 monthly condo fee was increased from $411 to $1,161 for two reasons: 1) because rental program through on-site office is not expected to be operational in 2023. In a normal year, it covers ~30% of COA budget. 2) to cover insurance increases that were expected pre-storm. The monthly fee will be revisited with the 2024 budget.
Listed by Susan Andrews, Realtor, Broker/Owner of SanibelSusan Realty Associates
This information is deemed reliable but not guaranteed.