2611 Gulf dr, By the Sea, FL 33957

This gulf front condominium offers a rare opportunity to own in a private, non rental, residential only complex directly on the beach. The planned residence includes two bedrooms, two bathrooms, and a den, providing a flexible and functional floor plan once reconstruction is complete.IMPORTANT INFORMATION.The building is currently in the early stages of reconstruction. The list price of $500,000 reflects the condo interest only and does not represent the total cost to complete the unit.In addition to the purchase price, the buyer will be responsible for all remaining construction costs. Current estimates provided by the association indicate approximately $856,000 to deliver the unit to a white box condition, plus an estimated $300,000 for interior build out. All construction costs are estimates only and subject to change.This is not a finished unit and not a turnkey purchase. Buyers should expect an active construction environment during the rebuild process. Final layout, square footage, finishes, and completion timelines are subject to association approvals and construction progress.The association does not allow rentals, preserving the quiet, owner occupied atmosphere the community is known for. Prior to the storm, community amenities included a heated beachfront pool, cabana, security system, and covered parking. These amenities are anticipated to be restored upon completion of reconstruction but are not guaranteed.The condominium association historically maintained a master insurance policy, with premiums included in the association fees. Upon completion of reconstruction, building insurance is anticipated to be covered through the association, with owners responsible for interior coverage and personal contents. Insurance coverage, deductibles, limits, and future costs are subject to change and should be independently verified by the buyer.Located in a FEMA designated flood zone. Flood insurance and building requirements will apply once construction is completed.This offering is best suited for a buyer seeking long term value in a low density gulf front community who understands the costs, timelines, and variables involved in post storm reconstruction.