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$250,000 Just Listed

  • For Sale
  • Active
  • Condo
  • 2 Beds
  • 1 Full Bath
  • 1,050 Sq. Ft.
  • Updated 2 days ago
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INVESTOR OPPORTUNITY IN THE HEART OF DESTIN! Unit 122 at Gulf Terrace offers an exciting opportunity for first-time investors or savvy buyers looking to create value in one of the Emerald Coast's most popular vacation destinations. Bring your vision and add your personal touch to this condo while exploring its potential to build equity and generate vacation rental income. Updated comparable units have demonstrated **proven gross rental income of approximately $67K annually**, offering an attractive benchmark for investors considering the possibilities here. 2025 Actual Gross Income $55,790 2026 Actual Gross Income YTD over $51K Ideally located in the heart of Destin, Gulf Terrace puts you close to the area's most popular attractions, including Big Kahuna's Water & Adventure Park, the Destin Harbor, world-class fishing, beautiful Gulf beaches, shopping, dining, and entertainment. The gated community features 3 swimming pools (1 heated), tennis courts, pickleball and beautifully maintained grounds, adding to its appeal for vacation guests and owners alike. Whether you're purchasing your first investment property, expanding your portfolio, or looking for a beach getaway with income-producing potential, this is your chance to enter the Destin market at an appealing price point and make it your own. Bring your vision and discover the possibilities at Gulf Terrace!

Full Property Details for 4000 Gulf Terrace Dr #UNIT 122

General

  • Price: $250,000
  • Taxes: $2,546 (2025)
  • Status: Active
  • Type: Condo
  • Source: Emerald_Coast
  • MLS ID: 1013697
  • Updated: 10/14/2026
  • Added to Site: 3 day(s) ago

Rental Information

  • Complex Features: Short Term Rental - Allowed, Pickle Ball, BBQ Pit/Grill, Community Room, Dumpster, Fishing, Gated Community, Laundry, Pets Allowed, Picnic Area, Pool, Tennis, TV Cable

Interior

  • Number of Rooms: 5
  • Interior Features: Owner's Closet, Split Bedroom, Washer/Dryer Hookup
  • Appliances: Dishwasher, Disposal, Dryer, Microwave, Refrigerator W/IceMk, Smooth Stovetop Rnge, Stove/Oven Electric, Washer, Water Heater - Elect
  • Furnishings: Furnished - All
  • Flooring: Floor Tile, Floor Vinyl

Rooms

Bathrooms

  • Total Bathrooms: 1
  • Full Bathrooms: 1

Bedrooms

  • Total Bedrooms: 2

Additional Information

  • Pool: Yes
  • Pool Description: Pool Type

Exterior

  • Exterior Features: Sprinkler System

Location

  • Area: 14 - Destin
  • County: Okaloosa
  • Subdivision: GULF TERRACE CONDO
  • Driving Directions: From 98 turn North into the gated community of Gulf Terrace. Turn Right and follow the road around to the Right. Building 6 is located on the Left next to the community pool.

School Information

  • Elementary School: Destin
  • Middle School: Destin
  • High School: Destin

Community

  • Association: Yes
  • Assoc. Fees Include: Accounting, Ground Keeping, Land Recreation, Legal, Management, Recreational Faclty, Security, Sewer, Water, Cable TV, Trash

Heating & Cooling

  • Central air: Yes
  • Air Conditioning: Yes
  • Cooling Type: Ceiling Fans, Central Air
  • Heating Type: Central
  • Heating/Cooling: Central, Ceiling Fans, Central Air

Utilities

  • Sewer: Public Sewer
  • Utility Description: Electric, Public Water, TV Cable

Structural Information

  • Construction: Concrete, Frame, Stucco
  • Exterior Const.: Concrete, Frame, Stucco
  • Stories/Levels: 2
  • Square Feet: 1,050
  • Sq. Ft. Source: County PA Records
  • Year Built: 1973

Lot Features

  • Property View: Lake

Water Features

  • Water View: Yes

Financial Considerations

  • Assessment Amount: $628
  • Tax Amount: $2,546.36
  • Tax Year: 2025

Disclosures and Reports

  • Legal Description: Gulf Terrace Unit 122
  • APN: 00-2S-22-1095-0122-0000
  • Property ID: 00-2S-22-1095-0122-0000

Listed by Century 21 AllPoints Realty

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— 4000 Gulf Terrace Dr #UNIT 122 —

  • Century 21 AllPoints Realty

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Price & Sales History for 4000 Gulf Terrace Dr #UNIT 122 Get Price Alerts and Save Property

Date
Details
Price
Change
Source
10/14/2026
Listed
$250,000
-16.67%
MLS
10/18/2022
Sold
$300,000
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 4000 Gulf Terrace Dr #UNIT 122

Year
Property Taxes
Change
Tax Assessment
Change
2025
$2,546
-7%
$215,000
-7%
2024
$2,725
-7%
$230,000
-6%
2023
$2,927
126%
$245,000
123%
2021
$1,295
-16%
$110,000
-14%
2022
$1,536
19%
$127,500
42%
2021
$1,295
20%
$90,000
6%
2019
$1,078
12%
$85,000
13%
2018
$963
2%
$75,000
4%
2017
$941
4%
$72,000
3%
2016
$905
8%
$70,000
11%
2015
$835
6%
$63,000
7%
2014
$791
6%
$59,000
7%
2013
$744
—
$55,000
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Estimate the Cost for 4000 Gulf Terrace Dr #UNIT 122

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*These costs are estimates, and the interest rates assume exceptional credit standing.

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Listed by Century 21 AllPoints Realty

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4000 Gulf Terrace Drive #UNIT 122, Destin, FL 32541 (MLS# 1013697) is a Condo property with 2 bedrooms and 1 full bathroom. 4000 Gulf Terrace Drive #UNIT 122 is currently listed for $250,000 and was received on October 14, 2026. Want to learn more about 4000 Gulf Terrace Drive #UNIT 122? Do you have questions about finding other Condo real estate for sale in Destin? You can browse all Destin real estate or contact a Coldwell Banker agent to request more information.

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