Now for the Top Dogs! The Highest Income Producing Condos in Gulf Shores & Orange Beach: 2017
In the first part of my series: The Ultimate Guide to: Top Income Producing Condos in Gulf Shores Orange Beach Parts One and Two– I went over Top Income Producing 1 Bedroom Condos. 1 Bedroom condos that are used as rentals and as an investment are often a good start. People who have never invested in a vacation rental or who may be looking to build of portfolio, or own a number of units in different buildings and different areas along the beach. Any good investor knows about diversification right?
This post will be going over the other end of the spectrum. The TOP TOP Income Producing Condos. Again my numbers are pulled from various area rental management companies and the income they have witnessed on their various programs. Also- please remember: The numbers they have given me are BEFORE their management fees are taken out. The varying rental companies have varying services, portfolios, and fees ranging from sometimes 15-25%. That will be content for another post- Coming Soon!
But Before I go on, Let’s Recap on a Few important things to consider when investing in a condo at the beach:
#4 and #5 both Show Approximately $70,000 Gross
Annual Income:
- The Avalon at The Beach Club Gulf Shores
- Legacy Condo in Gulf Shores
Both units contain 5 bedroom and 5 baths and sleep 10-13. Although both condos are technically located in Gulf Shores, they could not be more different. While Legacy is located not far from the heart of Gulf Shores, The Beach Club is located down towards the end of the Fort Morgan Peninsula- a good 30 minute drive from the public beach area of Gulf Shores. Preference is completely based on personal wants and needs, and by the income producing potential of both- there are large numbers of vacationing families that see the value in both locations.
The Beach Club- Avalon Building, Gulf Shores (Fort Morgan)
The Beach Club consists of 3 buildings: A, C, & D. Avalon, Catalina, and Doral.
There was a one bedroom unit highlighted in my blog post about top income producing 1 bedroom condos- You can find that post here.
The Beach Club is like it’s own self contained little community, and it almost has to be- since it is located so far off of the beaten path. But many many people swear by this complex and wouldn’t go anywhere else. Loads of amenities, restaurants, shops etc can be found at The Beach Club.
Unfortunately there are not currently any of these 5 bed 5 bath income producing machines available for sale. But there have been 2 to exchange hands in 2017. Avalon Unit # 2003 (2809 sq ft ) selling for $ 675,000 and Avalon Unit # 1905 ( 2636 sq. ft) selling for $700,000. Fees on these units run around $860.
I like a good challenge. If you want to get your hands on one of these units- don’t let the lack of availability stop you! Call me, email me- I will find you a seller! You can also keep your eye on Beach Club units for sale here.
Legacy Condo – Gulf Shores:
Even more elusive than the 5 bedroom Avalon is the 5 bedroom Legacy Condo in Gulf Shores. A unicorn if you will. Again, there are not currently any 5/5 units available for sale- in fact in this condominium there are only 2 units of this layout. The Penthouse floor is shared on the 8th level by 2 units- each a 5 bedroom unit. The last time a 5 bedroom Legacy exchanged hands (according to the Baldwin County MLS)- was 2011! The unit was purchased with cash as a foreclosure. Sale price: $400,000. Keep an eye out for Legacy listings here:
Sounds like another challenge to me!
#3: Phoenix West Orange Beach: $90,000 Gross
Income Potential.
Phoenix West in Orange Beach is a popular building for visiting families and the rental numbers show that. With possible gross income of up to 90k for the 4 bedroom 4.5 bath units (2459 sq ft), there is good investment potential. The amenities include indoor and outdoor pools, lazy river, kiddie pool, hot tub, sauna, waterslide, tennis and more. The monthly fees are published at about $1100 for the 4 bedroom units, and $950 for the 3 bedroom (1958 sq ft unit).
At the time of this writing there were currently Four 3 bedroom units for sale ranging from $634,000 to $760,000. And one 4 bedroom 4.5 bath unit available for purchase: $959,900 which has now been on the market for the last 427 days.
There have been 17 units to close thus far in 2017. Of those, 16 Three bedroom units ranging from $634k – $760k.
1 Four bedroom unit: Selling at $964,000 after about 8 months.
Check current Phoenix West condos for sale HERE.
#2: Oceania Condo Gulf Shores: $105-110k Gross
Income Potential
Oceania is a very unique condominium complex in Gulf Shores. It is very low density offering tremendous peace and tranquility over your higher traffic condos. Oceania offers only one unit per floor with the elevator opening to your own private foyer- a personal code is required for the elevator to open up to your unit.
There is an indoor/outdoor pool and hot tub and fitness center and fees run approx: $1100.
With each floor your own private oasis, as you can imagine, the floor plans are quite expansive. Typical floors contain nearly 4000 sq feet, while the Penthouse boasts of over 5200 sq feet!
You can see a continually updated list of units for sale here.
But at the time of this writing there are currently Four 4 bedroom units for sale (3970 sq. ft floorplan): Prices Ranging from $1,150,000 – $1.3M. The Penthouse unit is also currently for sale (5221 sq. ft, top level unit) Listed for: $2.2M.
There has been only one unit in Oceania to sell so far in 2017. It was a standard 4 bedroom unit, listed and sold for the asking price of $1,115,000 after only 5 days on the market!
#1: Turquoise Place Orange Beach: $80-140k Gross
Income!
Turquoise Place Condominiums in Orange Beach Alabama are certainly the Creme dela Creme of Condos along the Alabama Gulf Coast- Even though they were built in 2009, they are probably still the finest (IMO) around.
Currently For Sale in Turquoise Place: (For an Updated and constantly
Current List, Click HERE& HERE).
10: 3 Bedroom, 3.5 Bath Units (2300 sq. ft) Ranging in price from: $1,075,000 – $1,300,000. The Average Days on the Market for these units, also ranges greatly from 30 to 600.
There are also: 5: 4 Bedroom 4.5 bath Units (3500 sq ft) ranging in price from: $1,600,000- $2,199,000. Average days on the market from: 90 days to 604 days.
There are 2 Penthouse Interior units for sale (4756 sq ft)- Priced @ $2,650,000 and $3.2M. The 900 sq. ft balcony on this bad boy is larger than most 1 bedroom beachside condos on the market! But WAIT! If you think that’s impressive, what about a Turquoise Place condo with a balcony alone of 8,000 square feet?!! You’ve got to see it to believe it-
Currently for sale: The D Tower Penthouse! Current list price: $3,728,500. 5 beds, 5 and a half baths- 5700 square feet inside and 8,000 sq ft balcony with an additional detached suite that conveys along with this unit! Below shows the location of the Penthouse unit in the D tower (West side tower) as well as the extraordinary balcony! Click HERE for the full listing info and photos.
Turquoise Place has an outstanding amenities package with multiple outdoor pools with zero entry, lazy river, fountains, indoor pool, hot tubs, tennis courts, large fitness center, Life Size Chess, tiki bar and on and on. Each individual balcony has its own hot tub and gas grill to accommodate even the most discriminate of guests!
Of course with a large amenities package, plush grounds and exquisite finishes, fees will be heftier than your normal everyday run of the mill condo association. Turquoise Place fees range from: $1000-$2200.
What about Recent Sales at Turquoise Place?
As of this writing the most recent sales include:
11 total sales in 2017 thus far. Of those sales, 9 of them were the 3 bedroom 3.5 bath floorplan. Selling prices range from $985,000 in Sept 2017 (Only 18 Days on the Market- because this one was priced to SELL!) to top sold price in 2017 for that 3504 sq ft floor plan being: $1,070,000.
The two 4 Bedroom units that sold in 2017 were in January and February. Selling prices of: $1,495,000 and $1,750,000. The unit that closed for $1.7M had been on the market for 764 days and was originally listed for $1,895,000. The other unit only sat on the market for 75 days before closing for it’s asking price.
Want more info? I have a sales packet of additional information I will gladly send. Please email me and I will send you the digital package.
I have been researching the Turquoise Place condos in Orange Beach for 8 years now and would gladly help you with a purchase or sale of your unit, OR answer any questions you may have.
Ready to start looking for your very own TOP INCOME PRODUCING condo? Give me a call- Let’s see what we can dig up! Better yet, wanna be a rockstar? Let’s make an offer on that Turquoise Place Penthouse!
