Fort Walton Beach - Beach Property For Sale #5512210

Step into this one-of-a-kind condo at the Palm Court Yacht Club! This condo features a 2-bedroom, 2-bath condo with a separate studio apartment outfitted with a Murphy-bed, it's own kitchen, full bathroom, and balcony -- offering an extremely rare and versatile property for a diversity of investment opportunities, a perfect primary residence, or a mixture of both. Additionally, for boat lovers, this property includes a deeded deep water boat slip in a no wake zone equipped with electricity, fresh water, and a $19,000 boat lift, capable of handling boats up to 25,000 pounds, and 40-ft long. The units can be left separated, or easily connected with an interior lockout door, making it a 3-bedroom, 3-bath condo, or rent the studio separately from the existing 2-bedroom unit. Both units have the potential as a primary residence, short-term rental, or long-term rental. Short term projected earnings of $25,000 annually for the studio, and $35,000 projected for the 2-bedroom unit, for a combined total of $60,000 in potential projected rental revenue. As a long-term rental, both units currently have leases in place bringing in $4,000/month ($48,000/year) combined. Leases are transferable to a new buyer for instant cash flow or either one or both leases can be cancelled with notice.

Both residences have been recently updated. The 2-bedroom, 2-bath unit boasts new flooring and new high-end Bosch appliances. The studio has been updated with new stainless-steel appliances, new flooring, light fixtures, modern blinds, and more living-room space!

Both condos come with their own private balconies, providing fantastic views and perfect spots to enjoy sunsets, fireworks, and the local boating scene. Located directly on the Intracoastal Waterway, this gated community also offers a heated waterfront pool, hot tub, grilling area, covered parking for owners, guest parking, and a dedicated storage unit. For beachgoers, Palm Court Yacht Club has a private boardwalk leading to the beach. Nearby popular restaurants such as The Gulf, AJ's Oyster Shanty, and Old Bay Steamer are within one block. Additionally, there is plenty of local shopping and entertainment on Okaloosa Island for all ages to enjoy with walking distance. Reach out today to schedule a private showing!