NOT LISTED FOR SALE

507 W Beach Blvd Unit 601 Gulf Shores, AL 36542

Estimated Value: $410,000 - $452,000

2 Beds
1 Bath
720 Sq Ft
$605/Sq Ft Est. Value

Last Sold September 23, 2022

Last sale price $399,000 $554 Per Sq Ft

Est. 9% increase in value since last sale

Current estimated payment $2,847/month

4 Days on Market

Highlights

  • Beachside
  • Property fronts gulf or ocean
  • Pool View
  • Gulf Shores Elementary School Rated A-
  • End Unit
  • Furnished

About This Home

As of September 2022

EAST Corner Two Bedroom and One Bath located in Ocean Reef Condominiums in Gulf Shores. This Affordable Condo is a fantastic rental and features tile throughout, New Paint, New Ceilings, A/C (2020, still in warranty), sold furnished and has Beautiful Gulf Views. Only steps to the beach and has Covered Parking. Ocean Reef is known for it's great rentals and the Beautiful Tropical Pool area. Great location and short walk to restaurants, shopping & entertainment areas. Rentals through Gulf Sands and 2022 rentals 30K+ and already has a 2023 Winter Guest.

Last Agent to Sell the Property

Vicki Lynn

Vicki Lynn Real Estate Listed on: 08/19/2022

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $1,710

Year Built

  • Built in 1982

Lot Details

  • Property fronts gulf or ocean
  • Beachside
  • Landscaped

HOA Fees

  • $336 Monthly HOA Fees

Parking

  • Covered Parking

Home Design

  • Entry on the 2nd floor
  • Wood Siding
  • Concrete Fiber Board Siding
  • Piling Construction

Interior Spaces

  • 720 Sq Ft Home
  • 2-Story Property
  • Furnished
  • Window Treatments
  • Living Room
  • Dining Room
  • Tile Flooring
  • Pool Views

Kitchen

  • Electric Range
  • Microwave
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Full Bathroom

Schools

  • Gulf Shores Elementary School
  • Gulf Shores High School

Utilities

  • Central Air
  • Internet Available

Listing and Financial Details

  • Assessor Parcel Number 66-04-20-3-000-003.000-933

Community Details

Overview

  • Association fees include common area insurance, common area maintenance, pest control, recreational facilities, reserve funds, taxes-common area, trash, water/sewer, internet, pool
  • Ocean Reef Community

Amenities

  • Community Barbecue Grill
  • Laundry Facilities
  • Community Wi-Fi

Recreation

  • Community Pool

Home Details

Home Type

Single Family

Est. Annual Taxes

$1,710

Year Built

Built in 1982

Lot Details

0

HOA Fees

$336 per month

Listing Details

  • Class: Residential-Single Family
  • Construction Foundation: Pilings
  • Construction Status: Resale
  • Property Amenities: Internet, Window Treatments
  • Property Type: Residential Attached
  • Style: Condo
  • Type of Unit: Corner Unit
  • View: Direct Gulf Front, Pool Area View, Southern View
  • Owners Association: Yes
  • Parcel Id Tax Id: 66-04-20-3-000-003.000-933
  • Year Built: 1982
  • Geo Subdivision: AL
  • Living Room Group: Living Room
  • Special Features: None
  • Property Sub Type: Detached
  • Stories: 1

Interior Features

  • Appliances: Dishwasher, Disposal, Microwave, Range-Electric, Refrigerator W/Ice Maker
  • Estimated Living Area: 720
  • Bathrooms: 1
  • Bedroom 2: Dimensions: 10x11, On Level: Main Level
  • Bedrooms: 2
  • Dining Area: Dimensions: 8x9, On Level: Main Level
  • Dining Area Type: Separate Dining Room
  • Floors: Tile
  • Kitchen: Dimensions: 5x8, On Level: Main Level
  • Living Room: Dimensions: 12x10, On Level: Main Level
  • Master Bed: Dimensions: 12x9, On Level: Main Level
  • Price Per Sq Ft: 554.17
  • Property Interior Stories: 1
  • Unit Floor: 2

Exterior Features

  • Body Of Water: Gulf Of Mexico
  • Exterior Finish: Concrete Board, Wood
  • Waterfront: Yes
  • Water Property Type: Beach Side - Building, Gulf Front - Building

Garage/Parking

  • Garage Parking: Condo: Covered Parking

Utilities

  • Heat Cooling: Central Electric (Cool)
  • Utilities: Baldwin Emc

Condo/Co-op/Association

  • Association Fee Frequency: Monthly
  • Association Fees: 336
  • Association Fees Include: Common Area Insurance, Common Area Maintenance, Pest Control, Recreational Facilities, Reserve Funds, Taxes-Common Area, Trash, Water/Sewer, Internet, Pool
  • Community Amenities: Bbq Area, Covered Entry, Internet, Landscaping, Laundry Facilities, Pool - Outdoor
  • Condo Building Stories: 2
  • Condo Complex: Ocean Reef

Rental Info

  • Furnished: Yes
  • Incm Producing Potential: Yes
  • Rental Program: Yes

Tax Info

  • Property Taxes: 1710
  • Assessor Parcel Number: 052715

MLS Schools

  • Elementary School: Gulf Shores Elementary
  • HighSchool: Gulf Shores High

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 19, 2022
Closed on
Sep 27, 2022
Sold by
Penn Fred A and Penn Cindy J
Bought by
Martin Tommy E and Martin Karen E
Seller's Agent
Vicki Lynn
Vicki Lynn Real Estate
List Price
$399,000
Sold Price
$399,000
Views
35
Current Estimated Value
$435,737

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$36,737
Avg. Annual Appreciation
2.84%
Original Mortgage
$319,200
Outstanding Balance
$305,313
Interest Rate
5.22%
Mortgage Type
New Conventional
Estimated Equity
$130,424

Purchase Details

Listed on
Apr 10, 2018
Closed on
May 30, 2018
Sold by
Langejans Junior and Langejans Sharon Lee
Bought by
Penn Fred A and Penn Cindy J
Seller's Agent
Matthew Mogan
RE/MAX of Gulf Shores
Buyer's Agent
Vicki Lynn
Vicki Lynn Real Estate
List Price
$249,900
Sold Price
$235,000
Premium/Discount to List
-$14,900
-5.96%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
13.04%
Original Mortgage
$176,250
Interest Rate
5%
Mortgage Type
Adjustable Rate Mortgage/ARM
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Martin Tommy E $399,000 --
Penn Fred A $69,000 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Martin Tommy E $319,200
Previous Owner Penn Fred A $176,250
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/23/2022 09/23/22 Sold $399,000 0.0% $554 / Sq Ft
08/23/2022 08/23/22 Pending -- -- --
08/19/2022 08/19/22 For Sale $399,000 +69.8% $554 / Sq Ft
05/31/2018 05/31/18 Sold $235,000 -6.0% $326 / Sq Ft View Prior Sale
04/14/2018 04/14/18 Pending -- -- --
04/10/2018 04/10/18 For Sale $249,900 -- $347 / Sq Ft
Source: Baldwin REALTORS®

Tax History Compared to Growth

Source: Public Records

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 $2,614 $79,200 $0 $79,200
2023 $2,208 $66,900 $0 $66,900
2022 $1,711 $51,840 $0 $0
2021 $1,625 $48,240 $0 $0
2020 $1,521 $45,080 $0 $0
2019 $1,411 $41,760 $0 $0
2018 $1,221 $36,000 $0 $0
2017 $1,055 $30,960 $0 $0
2016 $888 $25,920 $0 $0
2015 $888 $25,920 $0 $0
2014 $793 $23,040 $0 $0
2013 -- $20,880 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Vicki Lynn

    Seller's Agent in 2022

    Vicki Lynn

    Vicki Lynn Real Estate

    (251) 752-7571

    42 in this area

    114 Total Sales

    Vicki Lynn
    Section Image
  • Matthew Mogan

    Seller's Agent in 2018

    Matthew Mogan

    RE/MAX

    (251) 942-6133

    42 in this area

    102 Total Sales

    Matthew Mogan
    Section Image
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Map

Source: Baldwin REALTORS®

MLS Number: 335502

Baldwin REALTORS®

APN: 66-04-20-3-000-003.000-933

Alabama Baldwin County Gulf Shores 36542

507 W Beach Blvd Unit 601, Gulf Shores, AL

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