Island Sunrise Condos Gulf Shores
Address: 427 East Beach Blvd Gulf Shores, AL. 36542
For those on a budget who are wanting a place on the beach to live full-time, part-time, or use for an investment, Island Sunrise is a great option. This "beach-side" community is located in a convenient spot in Gulf Shores that allows for an easy walk to both shopping and restaurants. This is one of the older complexes in the area that has stood the test of time and continues to attract both buyers and vacationers alike. Although the building is a little older, built in 1982, purchase prices are some of the lowest among condos that are for sale directly on the beach, which gives buyers a great opportunity who are looking to spend between $200,000 and $250,000.
Island Sunrise is nestled between Island Shores and Lighthouse. So, even though the units are a little smaller than some of the other options on the beach, the white-sandy beaches and the Gulf are the same and you still have fast and easy access to the many activities that are just steps away.
Island Sunrise Condo Real Estate
The building is 6 stories and has a total of 60 units. There are 2 different floor plans that the building offers, 1 bedroom/1 bath units with 662 square feet and 2 bedroom/2 bath units with 832 square feet.
Island Sunrise AmenitiesCovered entryBBQ and picnic areaOutdoor poolPrivate security
As far as the view goes, there will be 3 different views available from the building. There are units with the balcony facing the Gulf (southern view), some balconies facing east and west, and still others on the front of the building. The east and west facing balconies on the side of the building will have water views but you will have to go on the balcony to see the water. Obviously the higher priced condos will have the best water views and I'm finding that those views start at about $230,000 across the beach. However, the next best thing is to be as close to the beach as possible and this building delivers.
Rental Income and Potential
Everyone has some kind of budget that they're working with. As I meet with buyers in all different price ranges, I learn about the figure that they don't want to go over on the purchase of condo. Well, the same thing goes for vacationers and "snowbirds". The point I'm making is this. Even though these condos are in the lower price ranges compared to many other establishments on the beach, tenants are usually working with a budget as well. There is a market for people who want to pay to stay at Turquoise but there is a huge market for people who want to pay a lot less for the week that they are here. Island Sunrise does very well when it comes to rental income. The 1 bedroom units made a high of $18,482 in rental income last year and an average of $16,442. The 2 bedroom units made a high of $25,411 last year and an average of $23,730. These figures were provided by Meyer, a very large property management company here at the beach. The difference in the high and the average income usually has to do with the availability of the unit and how often it can be rented throughout the year.
Condo fees of $262 include:Association ManagementCommon Area InsuranceCommon Area MaintenanceReserve FundsRecreational FacilitiesPest ControlBasic CableWater/SewerTrash
Here's an example using a sales price of $228,000 (the average list price in Island Sunrise). If you put 20% down as a down payment and have a 3.92% rate on a 30 year fixed conventional loan, your principal and interest payment would $862. Property taxes are around $1,100 per year, depending on the size and if the unit is to be used as a second home, full time residence, or investment. I'll use $262 as an example for the HOA fees (this will be plus or minus a little). So, your payment would be around $1,216/mo. Looking at this figure plus comparing it to the potential rental income, you can see how our market is in demand.
Island Sunrise Condos - The Area
Nearby RestaurantsThere are 31 restaurants within 1 mile from this location. Here are a few of the highlights:
The SteamerIsland Pancake HousePapa Rocco'sGulf Island GrillBJ's Seafood RestaurantSea N' SudsPhilly's on the BeachCrico's Pizza and SubsHooters
ActivitiesSome things to do within 1 mile:
Gulf Shores ZooGo Go KayakHummingbird ZiplinesGulf State ParkGlow YogaZooland Mini GolfIf you have questions or would like more information on Island Sunrise please call or message me from the information on the right side of your screen.
IXL Real Estate – Eastern Shore