12924 GULF BLVD #502 Active Save Request In-Person Tour Request Virtual Tour
Madeira Beach,FL 33708
Key Details
Property Type Condo
Sub Type Condominium
Listing Status Active
Purchase Type For Sale
Square Footage 865 sqft
Price per Sqft $865
Subdivision Sandy Shores Condo
MLS Listing ID TB8364902
Bedrooms 1
Full Baths 1
Condo Fees $796
Year Built 1979
Annual Tax Amount $8,514
Lot Size 0.920 Acres
Property Sub-Type Condominium
Property Description
Whether you're looking for a dream vacation retreat or a high-performing income property, this top-floor beachfront penthouse at Sandy Shores Condominiums offers the best of both worlds. Zoned for short-term rentals with no restrictions on owner use, this unit generated $73,662 in rental income in 2024—despite reduced bookings after the storms. In the first half of this year (January through June) it produced $43,916. With projected ROI exceeding 9% in 2025, this property is also an ideal 1031 exchange opportunity. The updated one-bedroom, one-bath unit is being sold fully furnished, including linens, cookware, and decor—ready for you or your guests to enjoy immediately. Inside, you'll find an open-concept living area with sweeping Gulf views, hurricane-impact windows, and a renovated kitchen featuring custom wood cabinetry, quartz countertops, and stainless steel appliances. Step outside and enjoy the heated beachfront pool, grilling area, tiki hut, and bicycle storage—all part of the Sandy Shores amenities. The building has completed all required structural integrity inspections and reserve studies. With fully funded reserves, and recent upgrades including the roof, balconies, resurfaced pool and parking lot, and a backup generator, this is truly a turnkey coastal investment. Located directly on the beach and just steps from John's Pass Village & Boardwalk, this condo offers unmatched walkability to restaurants, shops, fishing charters, boat rentals, and dolphin tours. It's also a short drive to St. Pete, Clearwater Beach, and Tampa, making it a top-tier location for visitors and owners alike. This is a rare chance to own a proven, income-producing beachfront condo in one of Florida's most popular coastal destinations. Schedule your showing today!
Location
State FL
County Pinellas
Community Sandy Shores Condo
Area 33708 - St Pete/Madeira Bch/N Redington Bch/Shores
Interior
Heating Central,Electric
Cooling Central Air
Flooring Carpet,Ceramic Tile,Luxury Vinyl
Laundry Same Floor As Condo Unit
Exterior
Exterior Feature Balcony,Outdoor Grill,Sliding Doors
Community Features Pool
Utilities Available Cable Connected,Electricity Connected
Amenities Available Elevator(s),Pool,Recreation Facilities
Waterfront Description Gulf/Ocean
View Y/N Yes
Water Access Yes
Roof Type Membrane
Building
Story 1
Foundation Concrete Perimeter,Pillar/Post/Pier
Sewer Public Sewer
Water Public
Structure Type Concrete
New Construction false
Others
Monthly Total Fees $796
Special Listing Condition None
Virtual Tour https://my.matterport.com/show/?m=w6M2rEtXLVH&brand=0&mls=1&