4000 Gulf Terrace Drive UNIT 122, Destin, FL 32541

New Listing

$250,000

Property Type: Residential Bedrooms: 2 Baths: 1 Square Footage: 1,050 Status: Active

Current Price: $250,000 List Date: 10/14/2026 Last Modified: 10/15/2026

Overview

Description

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 maint ... (Read more)

Listing Details MLS# 1013697

Contract Info

List Price/SqFt: 238.1
Listing Board: Emerald Coast

Location Tax and Legal

Area: 14 - Destin
Street #: 4000
Street Name: Gulf Terrace
Street Suffix: Drive
State: FL
Zip Code: 32541
County: Okaloosa
Project Name/Subdivision: GULF TERRACE CONDO
Parcel ID: 00-2S-22-1095-0122-0000

General Property Info

Sub-Type: Condominium
Design: N/A
Apx SqFt(Htd/Cooled): 1050
SqFt Source: County PA Records
Full Baths: Yes
Total Bathrooms: Yes
Stories In Unit: Yes
Stories in Building: 2
Unit Floors Above Ground: Yes
Year Built: 1973
Immediate Occupancy: Yes
Pre-Const Flip: No
Garage: No
Carport: No
Pool: Yes
Pool Type: Community

More Information

Property Features

Construction Status: Construction Complete Waterview: Lake Project Facilities: BBQ Pit/Grill; Community Room; Dumpster; Fishing; Gated Community; Laundry; Pets Allowed; Pickle Ball; Picnic Area; Pool; Short Term Rental - Allowed; Tennis; TV Cable Exterior: Sprinkler System Interior: Floor Tile; Floor Vinyl; Furnished - All; Needs Work; Owner's Closet; Split Bedroom; Washer/Dryer Hookup; Window Treatment All Appliances: Dishwasher; Disposal; Dryer; Microwave; Refrigerator W/IceMk; Smooth Stovetop Rnge; Stove/Oven Electric; Washer Utilities: Electric; Public Sewer; Public Water; TV Cable Energy: AC - Central Elect; Ceiling Fans; Heat Cntrl Electric; Water Heater - Elect Master Bedroom: First Bedroom: First Kitchen: First Living Room: First Full Bathroom: First Rooms: Bedroom; Full Bathroom; Kitchen; Living Room; Master Bedroom Financing: Conventional; Other Fees Include: Accounting; Ground Keeping; Land Recreation; Legal; Management; Recreational Faclty; Security; Trash; TV Cable; Water

Room Information

Room Name	Level	Dimensions	Length	Width
Kitchen	First	12 x 8	12.00	8.00
Master Bedroom	First	12 x 11	12.00	11.00
Living Room	First	18 x 17	18.00	17.00
Full Bathroom	First	9 x 8	9.00	8.00
Bedroom	First	12 x 11	12.00	11.00

Listing Office: Century 21 AllPoints Realty

Last Updated: October - 15 - 2026

All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.