4000 Gulf Terrace Drive UNIT 131, Destin, FL 32541 (MLS# 989655)

4000 Gulf Terrace Drive UNIT 131, Destin, FL 32541

$245,000

Property Type: Residential Bedrooms: 1 Baths: 1 Square Footage: 738 Status: Active

Current Price: $245,000 List Date: 11/14/2025 Last Modified: 11/14/2025

Overview

Description

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

Supplements: 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!

Listing Details MLS# 989655

Contract Info

List Price/SqFt: 331.98
Listing Board: Emerald Coast

Location Tax and Legal

Area: 14 - Destin
Street #: 4000
Street Name: Gulf Terrace
Street Suffix: Drive
State: FL
Zip Code: 32541
County: Okaloosa
Project Name/Subdivision: GULF TERRACE CONDO
Parcel ID: 00-2S-22-1095-0131-0000

General Property Info

Sub-Type: Condominium
Design: N/A
Apx SqFt(Htd/Cooled): 738
SqFt Source: Condo Docs
Full Baths: Yes
Total Bathrooms: Yes
Stories In Unit: Yes
Unit Floors Above Ground: Yes
Year Built: 1973
Immediate Occupancy: Yes
Garage: No
Carport: No
Street Spaces: 2
Pool: Yes
Pool Type: Community

Location, Tax and Legal

Unit #: UNIT 131
Sub Area: 1403 - Destin Northwest
Elementary School: Destin
Middle School: Destin
High School: Destin
Legal Description: GULF TERRACE UNIT 131

Listing Info, Tax & Legal

Homestead: No
Is Subject Leased: No
Assessment Fees: Yes
Assessment Amount: 600
Annual Assessment Amount: 7200
Assessment Paid: Monthly
New Buyer Fee: Yes
New Buyer Fee Amt: 200
New Buyer Fee Paid: $
Last Taxes: 2369.32
Last Tax Year: 2024
Brokerage Interest: No Interest
As Is: No

More Information

Remarks & Misc

Remarks: 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

Waterfront

Lake: Yes

Construction Status

Construction Complete: Yes

Waterview

Lake: Yes

Project Facilities

BBQ Pit/Grill: Yes
Community Room: Yes
Dumpster: Yes
Gated Community: Yes
Laundry: Yes
Pavillion/Gazebo: Yes
Pets Allowed: Yes
Picnic Area: Yes
Pool: Yes
Tennis: Yes
TV Cable: Yes

Construction/Siding

Roof Metal: Yes
Siding Vinyl: Yes

Utilities

Public Sewer: Yes
Public Water: Yes
TV Cable: Yes

Exterior

Patio Covered: Yes

Interior

Breakfast Bar: Yes
Ceiling Crwn Molding: Yes
Floor Tile: Yes
Furnished - All: Yes
Window Treatment All: Yes

Financing

Conventional: Yes
FHA: Yes
VA: Yes

Appliances

Dishwasher: Yes
Dryer: Yes
Microwave: Yes
Refrigerator: Yes
Smoke Detector: Yes
Stove/Oven Electric: Yes
Washer: Yes

Energy

AC - Central Elect: Yes
Heat Cntrl Electric: Yes
Water Heater - Elect: Yes

Mstr Bdrm/Mstr Bath

MBath Tile: Yes

Master Bedroom

First: Yes

Kitchen

First: Yes

Living Room

First: Yes

Full Bathroom

First: Yes

Rooms

Dining Room: Yes
Full Bathroom: Yes
Kitchen: Yes
Living Room: Yes
Master Bedroom: Yes

Fees Include

Accounting: Yes
Ground Keeping: Yes
Insurance: Yes
Internet Service: Yes
Master Association: Yes
Recreational Faclty: Yes
Sewer: Yes
Trash: Yes
TV Cable: Yes
Water: Yes

Property Features

Construction Status: Construction Complete Waterfront: Lake Waterview: Lake Project Facilities: BBQ Pit/Grill; Community Room; Dumpster; Gated Community; Laundry; Pavillion/Gazebo; Pets Allowed; Picnic Area; Pool; Tennis; TV Cable Exterior: Patio Covered Interior: Breakfast Bar; Ceiling Crwn Molding; Floor Tile; Furnished - All; Window Treatment All Appliances: Dishwasher; Dryer; Microwave; Refrigerator; Smoke Detector; Stove/Oven Electric; Washer Utilities: Public Sewer; Public Water; TV Cable Energy: AC - Central Elect; Heat Cntrl Electric; Water Heater - Elect Master Bedroom: First Kitchen: First Living Room: First Full Bathroom: First Rooms: Dining Room; Full Bathroom; Kitchen; Living Room; Master Bedroom Financing: Conventional; FHA; VA Fees Include: Accounting; Ground Keeping; Insurance; Internet Service; Master Association; Recreational Faclty; Trash; TV Cable; Water

Room Information

Room Name	Level	Dimensions	Length	Width
Living Room	First	25 x 22	25.00	22.00
Dining Room	First	22 x 6	22.00	6.00
Kitchen	First	8 x 5	8.00	5.00
Master Bedroom	First	18 x 10	18.00	10.00
Full Bathroom	First	10 x 5	10.00	5.00

Listing Office: Levin Rinke Realty

Last Updated: November - 14 - 2025

All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.

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