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$245,000

  • For Sale
  • Active
  • Condo / Townhouse
  • 1 Bed
  • 1 Full Bath
  • 738 Sq. Ft.
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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 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!

Full Property Details for 4000 Gulf Terrace Dr #UNIT 131

General

  • Price: $245,000
  • Taxes: $2,369 (2024)
  • Status: Active
  • Type: Condo /Townhouse
  • Source: Emerald_Coast
  • MLS ID: 989655
  • Updated: 11/14/2025
  • Added to Site: 64 day(s) ago

Interior

  • Rooms/Areas: Dining Room, Full Bathroom, Kitchen, Living Room, Master Bedroom
  • Interior Features: Breakfast Bar, Ceiling Crwn Molding, Floor Tile, Furnished - All, Window Treatment All
  • Appliances: Dishwasher, Dryer, Microwave, Refrigerator, Smoke Detector, Stove/Oven Electric, Washer

Rooms

Bathrooms

  • Total Bathrooms: 1
  • Full Bathrooms: 1

Bedrooms

  • Total Bedrooms: 1

Other Rooms

  • Living Room: Living Room
  • Kitchen: Kitchen
  • Dining Room: Dining Room

Additional Information

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

Exterior

  • Exterior Features: Patio Covered

Location

  • Area: 14 - Destin
  • County: Okaloosa
  • Subdivision: Gulf Terrace Condo
  • Driving Directions: From Hwy 98, turn north onto Gulf Terrace Drive. The building is located directly behind Building 8

School Information

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

Heating & Cooling

  • Heating/Cooling: AC - Central Elect, Heat Cntrl Electric, Water Heater - Elect

Utilities

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

Structural Information

  • Construction: Roof Metal, Siding Vinyl
  • Stories/Levels: 0
  • Square Feet: 738
  • Sq. Ft. Source: Condo Docs
  • Year Built: 1973

Lot Features

  • Property View: Lake

Water Features

  • Water Front Type: Lake

Financial Considerations

  • Assessment Amount: $600
  • Assmt Payment Freq: Monthly
  • Tax Amount: $2,369
  • Tax Year: 2024
  • Terms: Conventional, FHA, VA

Disclosures and Reports

  • Legal Description: GULF TERRACE UNIT 131
  • Assessment: Yes
  • APN: 00-2S-22-1095-0131-0000

Listed by Levin Rinke Realty

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Listing agent

— 4000 Gulf Terrace Dr #UNIT 131 —

  • Levin Rinke 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 131 Get Price Alerts and Save Property

Date
Details
Price
Change
Source
11/14/2025
Listed
$245,000
-3.92%
MLS
5/27/2022
Sold
$255,000
—
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 131

Year
Property Taxes
Change
Tax Assessment
Change
2025
$1,954
-18%
$165,000
-18%
2024
$2,369
-3%
$200,000
-2%
2023
$2,449
115%
$205,000
114%
2021
$1,139
-16%
$96,000
-26%
2022
$1,351
19%
$130,000
62%
2021
$1,139
18%
$80,000
10%
2019
$967
14%
$72,600
10%
2018
$847
8%
$66,000
10%
2017
$784
8%
$60,000
5%
2016
$728
10%
$57,000
14%
2015
$662
7%
$50,000
9%
2014
$617
7%
$46,000
8%
2013
$575
—
$42,500
—
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.

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NMLS#: 1598647

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Listed by Levin Rinke Realty

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4000 Gulf Terrace Drive #UNIT 131, Destin, FL 32541 (MLS# 989655) is a Condo / Townhouse property with 1 bedroom and 1 full bathroom. 4000 Gulf Terrace Drive #UNIT 131 is currently listed for $245,000 and was received on November 14, 2025. Want to learn more about 4000 Gulf Terrace Drive #UNIT 131? Do you have questions about finding other Condo / Townhouse 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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