Cottage Colony West #119 at Casa Ybel Resort
at 2255 West Gulf Drive on Sanibel Island
1st Floor Beach-Front Condo With Above View
Plus Easy & Excellent Rental Income
Casa Ybel Resort is a unique property – laden with Sanibel history. It sits on 23 lush gulf-front acres & was named one of the “Best Places to Stay in The World” by Condé Nast Traveler.
Originally built in the late 1880’s as a residence, the resort centers around “Thistle Lodge” which now is home to its main restaurant – a treasured spot for many weddings, other special events, and the only restaurant with beach-view dining along Sanibel’s Gulf Drives.
Other resort amenities include beachside heated Olympic-sized pool with nearby pool bar, six tennis courts, two shuffleboard courts, beach/bike/boat equipment rentals, tennis and children’s programs, in-unit spa treatments, & a variety of other family-friendly sports including child’s wading pool, beach volleyball, basket ball, horseshoes, croquet, etc.
The resort units (114 in total) are all beach-front & mostly time shares, but also include a small 40-unit condominium complex known as Cottage Colony West. This condo is part of that association.
Cottage Colony West has five buildings with four units up and four units down in each building.
The lower units, like this one (#119), have a private beachside staircase going from the screened balcony to the lawn & the gulf.
The unit owners are all Charter Members of the resort giving them use of all of the general amenities. The units also share a common laundry & BBQ area.
Conveniently located in a center tier of the center condo building, Cottage Colony West #119 also is handy to the central amenities.
Because of the resort’s status, units here can rent nightly through the easy on-site rental program – condos that allow nightly rentals are rare on Sanibel Island.
Units like this one in Cottage Colony West typically gross $85K to $95K/year with owners receiving 50% of the net income. In 2016, this unit grossed $87,939, with owner’s share $42,098.
Through April 2017, year-to-date, it has earned $45,511, with owners share $21,668.
The lease agreement has guaranteed rental income & takes care of all maintenance, cleaning, repairs, & utilities, so ownership for investors is easy & productive!
(offered fully furnished & with future rental bookings)
Listed by Susan Andrews, Realtor, Broker/Owner of SanibelSusan Realty Associates, this information is deemed reliable but not guaranteed.