4000 Gulf Terrace Drive 112
Destin, FL 32541
MLS# 968843
Status:
Sold2 beds | 1 baths | 982 sqft
Property DescriptionPrime Investment Opportunity: Destin 2BR 1BA Condominium. This first-floor condominium presents a fantastic investment opportunity with NO RENTAL RESTRICTIONS, allowing for flexible income potential. Though it requires upgrades, this unit promises great returns in the sought-after Destin market. It is part of the most affordable complex to own in Destin. All offers are welcome! No Flood Zone!
Community Features: gated entrances from HWY 98 and Airport Rd,
Access to 3 swimming pools, including one heated, Tennis/pickleball court, EV and a clubhouse for owners.
HOA Coverage: The monthly fee covers building insurance and exterior maintenance, water, internet, sewer, trash, landscaping, and maintenance of pools and gates, ensuring low maintenance for the homeowner. See More Section
Sold Price/SqFt: 222
Status: Sold
Under Contract Date: 2025-09-01
Sold Date: 2025-11-04
Listing Board: Emerald Coast
List Price/SqFt: 244.4
List Date: 2025-02-18
Current Price: $218,000
Unit #: 112
Sub Area: 1403 - Destin Northwest
Elementary School: Destin
Middle School: Destin
High School: Destin
Legal Description: GULF TERRACE UNIT 112
Sub-Type: Condominium
Design: N/A
SqFt Source: County PA Records
Balcony SqFt: 120
Stories In Unit: 0
# of Units in Bldg: 8
Stories in Building: 2
Unit Floors Above Ground: 2
Immediate Occupancy: No
Garage: No
Pool Type: Community
Apx SqFt(Htd/Cooled): 982
Total Bathrooms: 1
Year Built: 1973
Who Paid Doc Stamps: Seller
Who Paid Title: Buyer
Is Subject Leased: Yes
Assessment Fees: Yes
Rent/Mo: 1850
Assessment Amount: 722.13
Lease Expiration Dt: 2026-04-01
Annual Assessment Amount: 8665.56
Assessment Paid: Monthly
New Buyer Fee: No
Brokerage Interest: No Interest
As Is: Yes
Remarks: Prime Investment Opportunity: Destin 2BR 1BA Condominium. This first-floor condominium presents a fantastic investment opportunity with NO RENTAL RESTRICTIONS, allowing for flexible income potential. Though it requires upgrades, this unit promises great returns in the sought-after Destin market. It is part of the most affordable complex to own in Destin. All offers are welcome! No Flood Zone!
Community Features: gated entrances from HWY 98 and Airport Rd,
Access to 3 swimming pools, including one heated, Tennis/pickleball court, EV and a clubhouse for owners.
HOA Coverage: The monthly fee covers building insurance and exterior maintenance, water, internet, sewer, trash, landscaping, and maintenance of pools and gates, ensuring low maintenance for the homeowner. See More Section
BBQ Pit/Grill: 1
Community Room: 1
Dumpster: 1
Gated Community: 1
Laundry: 1
Pavillion/Gazebo: 1
Short Term Rental - Allowed: 1
Tennis: 1
Roof Flat: 1
Roof Metal: 1
Electric: 1
Public Sewer: 1
Public Water: 1
TV Cable: 1
BBQ Pit/Grill: 1
Patio Covered: 1
Pool - In-Ground: 1
Sprinkler System: 1
Breakfast Bar: 1
Floor Tile: 1
Floor WW Carpet: 1
Pantry: 1
Dishwasher: 1
Microwave: 1
Refrigerator: 1
Stove/Oven Electric: 1
AC - Central Elect: 1
Ceiling Fans: 1
Heat Cntrl Electric: 1
Water Heater - Elect: 1
Ground Keeping: 1
Insurance: 1
Internet Service: 1
Management: 1
Other Utilities: 1
Sewer: 1
Area: 14 - Destin
Street #: 4000
Street Name: Gulf Terrace
Street Suffix: Drive
County: Okaloosa
Project Name/Subdivision: GULF TERRACE CONDO
Parcel ID: 00-2S-22-1095-0112-0000
Construction Status: Construction Complete
Project Facilities: BBQ Pit/Grill; Community Room; Dumpster; Gated Community; Laundry; Pavillion/Gazebo; Pets Allowed; Pool; Short Term Rental - Allowed; Tennis; TV Cable; Waterfront
Exterior: BBQ Pit/Grill; Patio Covered; Pool - In-Ground; Sprinkler System; Tennis Court
Interior: Breakfast Bar; Floor Tile; Floor WW Carpet; Pantry
Appliances: Dishwasher; Microwave; Refrigerator; Stove/Oven Electric
Utilities: Electric; Public Sewer; Public Water; TV Cable
Energy: AC - Central Elect; Ceiling Fans; Heat Cntrl Electric; Water Heater - Elect
Rooms: Bedroom; Kitchen; Living Room
Fees Include: Ground Keeping; Insurance; Internet Service; Management; Other Utilities; Trash; Water
Existing Leases: 7 - 12 Months
Seller's Motivations and Additional Property Features:
The seller is motivated and willing to assist with closing costs, making this an even more attractive opportunity. Never having occupied the property, the seller has consistently rented it long-term, evidencing its strong rental potential.
The complex offers convenient boat parking exclusively for owners at a minimal monthly fee, catering to those who love boating adventures. Additionally, the on-site laundry facility is undergoing a remodel to enhance its modern look and efficiency.
Located just 0.7 miles from public beach access, this property positions residents right across the street from the Gulf of America. This condominium is in close proximity to popular attractions such as the Morgan Sportsplex, The Track, Big Kahuna Waterpark, and the Sun Destin Hotel featuring the PhatFish Restaurant. These nearby destinations add significant appeal for both residents and potential renters. Within the complex, you'll find Quail Lake, a recently stocked catch-and-release natural aquifer, perfect for leisurely fishing and relaxation.
| Room Name | Level | Dimensions | Length | Width | Dimensions |
| Living Room | First | 18 x 14 | 18.00 | 14.00 | 18 x 14 |
| Bedroom | First | 11 x 12 | 11.00 | 12.00 | 11 x 12 |
| Bedroom | First | 11 x 12 | 11.00 | 12.00 | 11 x 12 |
| Kitchen | First | 8 x 8 | 8.00 | 8.00 | 8 x 8 |
Listing Office: Waves of the Emerald Coast Realty LLC
Last Updated: November - 05 - 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.