2611 W Gulf Drive Unit B101, Sanibel, FL 33957

$1,200,000
3
BD
2
BA
1,725
SqFt
List Price
$1,200,000
Listing Price
$1,200,000
Days on Market
24
MLS#
222080011
Bedrooms
3
Bathrooms
2
Living Sq. Ft
1,725
Property Class
Condo
Building Design
Low Rise (1-3)
Status Type
Resale
Status
ACTIVE
County
Lee
Region
SI01 - Sanibel Island
Development
By The Sea Condo

Property Description

By The Sea condo complex sustained damage from Hurricane Ian. The complex is currently defining the scope of the project to rebuild, determining the budget, and awaiting notification from their insurance companies regarding the claim amount to expect. The Association will then vote to determine if 75% of members agree to renovate/rebuild. The vote is expected in January 2023. Then all of the units within the entire complex will be gutted and renovated to the drywall and tape. Owners will customize their own units. There may be assessments related to this work. It is expected the renovation/rebuild will take approximately 12 months from projects start date until homeowners get possession of their units for their own finishings. The listing price of this unit represents a significant discount (nearly $1M) to account for the interior upgrades that will need to be made. Access to the complex will be restricted after November 27. Aerial photo represents complex condition prior to the storm.

Additional Information

Tax Year
2021
Year Built
1982
Carport Spaces
1
furnished
Unfurnished
Pets
Call, Conditional
Amenities
Beach Rights, Beach Access, Pool, Tennis Court(s)
Community Type
Elevator, Non-Gated
View
Gulf
Waterfront Description
Gulf
Building Description
Other, Low Rise
Lot Size
0.113
Construction
Stucco
Rear Exposure
N
Roof
Built-Up, Flat
Flooring
See Remarks
Exterior Features
Tennis Court(s)
Water
Public
Sewer
Public Sewer
Cooling
Central Air, Electric
Interior Features
Other, See Remarks, Split Bedrooms
Total Annual Recurring Fees
$20000
Waterfront
Yes
Unit Floor
1
Furnished Description
Unfurnished

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Listing courtesy of McCallion & McCallion.

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