PENDING
$50K PRICE DROP
500 Estero Blvd Unit 494 Fort Myers Beach, FL 33931
Estimated payment $5,658/month
Total Views
1,446
2
Beds
2
Baths
949
Sq Ft
$895
Price per Sq Ft
Highlights
- Beach Front
- Community Beach Access
- Gated Community
- Fort Myers Beach Elementary School Rated A-
- Bay View
- Private Membership Available
About This Home
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. New Flooring throughout. It will look like the photos of the recently renovated unit (attached). RENO will be completed July 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.
Listing Agent
Keller Williams Realty Fort Myers and the Islands Brokerage Phone: 239-247-2868 License #258008519 Listed on: 04/17/2025
Property Details
Home Type
- Condominium
Est. Annual Taxes
- $3,012
Year Built
- Built in 1979
Lot Details
- Beach Front
- Property fronts gulf or ocean
- Street terminates at a dead end
- Northeast Facing Home
HOA Fees
- $781 Monthly HOA Fees
Property Views
- Bay
- Gulf
Home Design
- Pillar, Post or Pier Foundation
- Built-Up Roof
- Stucco
Interior Spaces
- 949 Sq Ft Home
- 1-Story Property
- Entrance Foyer
- Great Room
- Open Floorplan
- Screened Porch
- Tile Flooring
- Breakfast Bar
- Washer and Dryer Hookup
Bedrooms and Bathrooms
- 2 Bedrooms
- Split Bedroom Floorplan
- 2 Full Bathrooms
- Shower Only
- Separate Shower
Home Security
Parking
- Guest Parking
- Assigned Parking
Outdoor Features
- Outdoor Shower
- Screened Patio
- Outdoor Grill
Utilities
- Central Heating and Cooling System
- Cable TV Available
Listing and Financial Details
- Legal Lot and Block 494 / 2300
- Assessor Parcel Number 24-46-23-W1-02300.4940
Community Details
Overview
- Association fees include management, insurance, internet, legal/accounting, ground maintenance, sewer, trash, water
- Private Membership Available
- Association Phone (239) 437-0340
- High-Rise Condominium
- Gateway Villas Subdivision
Amenities
- Laundry Facilities
- Elevator
Recreation
- Community Beach Access
- Community Pool
Pet Policy
- Call for details about the types of pets allowed
Security
- Gated Community
- Impact Glass
- High Impact Door
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $2,462 | $167,232 | -- | $152,029 |
| 2023 | $2,116 | $152,029 | $0 | $152,029 |
| 2022 | $8,908 | $576,146 | $0 | $0 |
| 2021 | $7,558 | $523,769 | $0 | $523,769 |
| 2020 | $7,064 | $477,233 | $0 | $477,233 |
| 2019 | $6,839 | $458,660 | $0 | $458,660 |
| 2018 | $6,764 | $459,468 | $0 | $459,468 |
| 2017 | $6,789 | $451,393 | $0 | $451,393 |
| 2016 | $6,477 | $426,298 | $0 | $426,298 |
| 2015 | $6,198 | $413,000 | $0 | $413,000 |
| 2014 | -- | $370,400 | $0 | $370,400 |
| 2013 | -- | $319,400 | $0 | $319,400 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/27/2025 08/27/25 | Pending | -- | -- | -- |
| 05/01/2025 05/01/25 | Price Changed | $849,000 | -5.6% | $895 / Sq Ft |
| 04/17/2025 04/17/25 | For Sale | $899,000 | -- | $947 / Sq Ft |
Source: Florida Gulf Coast Multiple Listing Service
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | -- | Attorney | |
| Warranty Deed | $230,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $70,000 | Credit Line Revolving | |
| Previous Owner | $101,752 | Unknown | |
| Previous Owner | $150,000 | Credit Line Revolving | |
| Previous Owner | $184,000 | No Value Available |
Source: Public Records
Similar Homes in Fort Myers Beach, FL
Source: Florida Gulf Coast Multiple Listing Service
MLS Number: 225039451
APN: 24-46-23-W1-02300.4940
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