The Lighthouse Condominium
Posted by Rachel Kelly on Saturday, August 10th, 2013 at 12:19pm.
When the Lighthouse condominium was released for pre sale, there were over 1,000 people vying for 253 units. Needless to say, there were a lot of disappointed investors that day. Shortly after the release, the fortunate few that reserved units began to list them for sale to make a quick profit. This was a great opportunity to pick up a condo with plenty of time left in the construction phase, hold on to it for a while and sell it before closing. This is referred to as "flipping" and was an extremely popular idea at the time.
When the Lighthouse was finished, price per square foot was around $500. Currently, the price per square foot is under $300 which is a seven year low. With proper exposure and a little effort, cash flowing is not that difficult in the right buildings. The Lighthouse is the best investment / rental condo on the Alabama Gulf Coast. There are numerous other condos on the Gulf of Mexico that will cash flow. For details on which condos are the best investments, check the previous blog post titled "Gulf Front Investment Condos" The better rental condos are in Orange Beach and Gulf Shores with Perdido Key, FL being more of a second home market.
Currently, the condos in the Lighthouse are starting around $320,000 for one bedrooms which are 875 square feet. The two bedroom condos are starting at $379,000 and are 1,150 square feet. There are two floor plans for the three bedroom units. The interior three bedroom units are 1,477 square feet and are priced starting at $439,000. The corner three bedroom units are scarce and the only one currently listed is 1,547 square and priced at $699,000.
One of the great features of the Lighthouse is an extra room in all of the units deemed a "computer room". This is simply for density compliance and fire safety compliance. The room is 9x7 and most of the owners are utilizing the space as a bunk room which allows for extra sleeping accommodations. This is especially appealing for vacationing families and perfect for the kids or anybody really. The Lighthouse has a gulf side exercise room, covered parking, on-site management, two gulf front pools and hot tubs. An indoor heated pool is another great feature at the Lighthouse and the off season guests and owners enjoy as the pools and the gulf are too cold for swimming.
The Lighthouse is conveniently located near numerous restaurants, shopping destinations and entertainment venues such as the Gulf Shores Hangout and the main public beach. The Gulf Shores Hangout is home of the annual music festival and the Lighthouse is walking distance being the second closest condominium with the Regatta in between. All of these things contribute to the popularity of the Lighthouse. If you need more information or would like to schedule a private viewing, please let us know. You can view current listings, floor plans, rental income expectations, video, pictures and other helpful sales info by visiting our Lighthouse condos for sale page.
5 Properties Found. Showing Page 1 of 1
