500 Estero BLVD #494 Active Save Request In-Person Tour Request Virtual Tour
Fort Myers Beach,FL 33931
Key Details
Property Type Condo
Sub Type High Rise (8+)
Listing Status Active
Purchase Type For Sale
Square Footage 949 sqft
Price per Sqft $894
Subdivision Gateway Villas
MLS Listing ID 225039451
Style Resale Property
Bedrooms 2
Full Baths 2
Condo Fees $781/mo
HOA Fees $9,372
HOA Y/N Yes
Year Built 1979
Annual Tax Amount $3,012
Tax Year 2024
Property Sub-Type High Rise (8+)
Source Florida Gulf Coast
Property Description
2 bed/2 bath DIRECT GULF FRONT Condo with a combination of a great northend beach location, popular floorplan, favorable rental rules, and owners are allowed pets. Gateway Villas on the northend of Fort Myers Beach has been a popular building with a gated entrance to the parking lot and lots of parking. The building was a highly sought location pre-Ian and will be even better once construction is completed in June/July 2025. INVESTORS - the building allows 7 days minimun rentals. This 4th floor unit had some damage and drywall was replaced as needed and electrical switches were replace wherever the drywall was replaced. The kitchen cabinets were recently removed and the cast iron plumbing in the kitchen was replaced. ALL new IMPACT sliders and windows; new air conditioner; and new water heater. Unit will be SOLD UPDATED - The kitchen will have white shaker cabinets, quartz countertops and backsplash, and the "drop down" ceiling is removed. The two bathrooms feature white shaker vanities, quartz countertops, marble tiled showers with shampoo inserts and glass shower doors. New interior doors and new tile on the balconies. Recessed lighting in the livingroom. Decorative ceiling beams in the bedrooms. It will look like the photos of the recently renovated unit (attached) except the tile floor is not being changed in living areas and bedrooms. RENO will be completed June 2025 and updated phtos will be taken. The corner unit is light and bright with extra windows and TWO balconies - one overlooks the beach and ocean; the other overlooks the bay and beach. This 2 bed / 2 bath unit will make a great personal residence or provide a sizable investment income. The building has 46 units over 8 floors. The building is in the final stages of repair and will feel brand new with new waterproof electirical room, refurbished pool area, new elevators (2 elevators), new roof (2023), and new landscaping. Maintenance fees of $781 per month include internet, unit water, building insurance and professional mgmt, and an on site maintenance manager. The building is planned to be ready for OWNER OCCUPANCY in June/July 2025. The Milestone Inspection is done and the repairs are in the final stage of completion and will see the building through to the next inspection in 10 years. The owners received 70K pre -Ian in rental income (after all rental expenses) and this is projected to 100K in 2026 (proforma attached). SOLD AS IS. Some photos show pre-IAN and others show a recent remodel of the same type of unit. Construction site -- Need closed toed shoes, hard hat, reflective vest and signed waiver to visit the site. Owner/agent will meet you there with necessary equipment. ALL ASSESSMENTS PAID INCLUDING $87,909 which was paid May 30 2025.
Location
State FL
County Lee
Area Gateway Villas
Rooms
Bedroom Description Split Bedrooms
Dining Room Breakfast Bar,Dining - Family
Interior
Interior Features Foyer
Heating Central Electric
Flooring Tile
Equipment None,Washer/Dryer Hookup
Furnishings Unfurnished
Fireplace No
Appliance None
Heat Source Central Electric
Exterior
Exterior Feature Screened Lanai/Porch,Outdoor Shower
Parking Features 1 Assigned,Guest
Pool Community
Community Features Pool,Gated
Amenities Available Beach - Private,Beach Access,Common Laundry,Pool,Private Membership
Waterfront Description Gulf Frontage,On the Gulf Beach
View Y/N Yes
View Gulf,Gulf and Bay
Roof Type Built-Up
Garage No
Private Pool No
Building
Lot Description Dead End
Building Description Concrete Block,Poured Concrete,Stucco, Common Area Washer/Dryer
Story 1
Water Central
Architectural Style High Rise (8+)
Level or Stories 1
Structure Type Concrete Block,Poured Concrete,Stucco
New Construction No
Others
Pets Allowed Limits
Senior Community No
Tax ID 24-46-23-W1-02300.4940
Ownership Condo
Security Features Gated Community
Num of Pet 2