Beach-Facing 3-Bedroom Condo
Earning Nearly $100K/Yr With Owner Use
The low-density condominium community of Pine Cove has just 16 owners.
Conveniently located near the intersection of West Gulf Drive & Tarpon Bay Road, Pine Cove is both gulf-front & convenient to the bike path & the many offerings of Sanibel Center, including the post office, Bailey’s Shopping Center (with both grocery, hardware, & liquor stores), shops, restaurants, banks, the Sanibel Movie Theater, & more.
Unit #201 is the innermost end-unit on the 2nd floor of the main building, nestled amid tropical vegetation & handy to the elevator.
The community has both heated pool & outdoor Jacuzzi-spa in a quiet environment with a pergola & bbq area too.
The spacious 3-bedroom floor plan is the largest in the community, featuring ~2200 sq.ft. of air conditioned space, plus ~350 sq. ft. wrap-around balcony, with sliders to the balcony from both living room & dining areas, plus the master bedroom suite.
The kitchen with breakfast bar opens to the living & dining areas, while a separate utility room with extra storage keeps the laundry separate. In the utility room, there is a full-sized washer & dryer.
With tiled floors in the foyer, entry, & general living spaces, plus screened balcony, there also is a separate owner’s closet in the kitchen hallway.
The bedrooms are carpeted. The large master bedroom is en suite with walk-in closet, both shower and Jacuzzi garden tub, both his & hers sink areas, plus a 2nd lockable owner’s closet.
The guest bedrooms are on either sides of the entry hall, sharing a bath with double sinks & walk-in shower tiled top-to-bottom.
At ground-level & handy to stairs & elevator, is the parking spot whose use conveys with #201.
Close by is an assigned exterior storage closet for beach toys & sporting goods.
Guest parking is available outside the building, near the building entrance.
The Pine Cove condominium association allows weekly rentals.
#201 is currently enrolled in VIP Vacation Rentals program with several long-term repeat guests rebooked to come in high season.
In 2017, grossed $93,377 with 6 weeks blocked by owners. In 2018, grossed $82,704 with 5 weeks blocked. As of 9/24, 2019 bookings are $78,178 with 2 weeks blocked. Also as of 9/24/19, 2020 bookings total $46,445. Without owner use, should gross $100K+.
$1,395,000 fully furnished & with future bookings to be honored
Listed by Susan Andrews, Realtor, Broker/Owner of SanibelSusan Realty Associates.
This information is deemed reliable but not guaranteed