500 Estero BLVD # 494, FORT MYERS BEACH FL 33931

500 Estero BLVD # 494, FORT MYERS BEACH FL 33931 at GATEWAY VILLAS - $849,000.00 - Residential - 2 Beds - 2.0 Baths - 949 Sqft - 1979 Build. GATEWAY VILLAS - Lee - FORT MYERS BEACH - FL

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 will see the building through to the next inspection in 10 years. The owners received 70K per year pre -Ian in rental income (after all rental expenses) and this is projected to 100K in 2026 (proforma attached). Some photos show pre-IAN and others show a recent remodel of the same type of unit. ALL ASSESSMENTS PAID INCLUDING $87,909 which was paid May 30 2025.