JUST COMPLETED! New Construction 6-Unit Portfolio Available - Blu Wave at Blue Mountain Beach
Just Completed! This is a rare chance to acquire all six luxurious townhomes in the exclusive Blu Wave boutique development as a complete package. Brand-new construction, this turnkey investment is poised to generate gross rental revenue potential exceeding $700,000+ per year.
Each of the six residences delivers 2,848 square feet of heated and cooled living space, plus expansive outdoor living areas designed for maximum coastal appeal. The standout feature is an expansive rooftop terrace with a wood pergola--perfect for installing a hot tub, entertaining guests, or capturing unforgettable Gulf sunsets. Multiple balconies off the open living areas and third-floor primary suites create seamless indoor-outdoor flow and deliver panoramic views of Draper Lake and the Gulf.
Interiors are built for both luxury living and strong rental performance, featuring a second-floor open-concept layout that seamlessly integrates the kitchen, dining, and living spaces--ideal for entertaining and everyday enjoyment. Each townhome includes three spacious bedrooms with ensuite baths, a convenient guest powder room, and a three-stop elevator for effortless multi-level access. Ample carport-style parking beneath each unit easily accommodates multiple vehicles and guests.
Located in the serene, low-traffic enclave of Blue Mountain Beach along Scenic Highway 30A, Blu Wave benefits from one of the most desirable addresses on Florida's Emerald Coast. The area is famous for its towering sand dunes, sugar-white beaches, turquoise waters, and rare coastal dune lakes like Draper Lake. This quieter, more exclusive vibe compared to busier neighboring communities supports premium rental rates and strong year-round demand from discerning vacationers and seasonal residents.
Investment highlights
" Brand new construction - immediate income potential upon completion
" Limited to just six units total - exclusivity drives higher occupancy and rates
" Exceptional rental upside with projected gross revenues over $700,000+ annually for the full portfolio
" Luxury and breathtaking views that command top-tier nightly/weekly rates
" Prime 30A location with strong appreciation history and consistent tourism demand
Blu Wave perfectly combines sophisticated coastal luxury, privacy, and outstanding income-generating potential in one of South Walton's most coveted beach communities.
For sale
Price cut: $1.5M (8/21)
$8,995,000
14 Blue Wave Dr, Santa Rosa Beach, FL 32459
18beds
17,088sqft
Townhouse
Built in 2026
0.82 Acres Lot
$8,164,200 Zestimate®
$526/sqft
$-- HOA
What's special
Convenient guest powder roomSeamless indoor-outdoor flow
- 49 days
- 357
- 15
Zillow last checked:
Listing updated:
Listed by:
Stuart Kirby stuart.kirby@scenicsir.com,
Scenic Sotheby's International Realty,
Scott C Markowitz,
The Premier Property Group
Source: ECAOR,MLS#: 1007386
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 18
- Bathrooms: 24
- Full bathrooms: 18
- 1/2 bathrooms: 6
Primary bedroom
- Description: Per Unit
- Level: Second
- Area: 211.2 Square Feet
- Dimensions: 13.11 x 16.11
Primary bedroom
- Level: Second
- Area: 211.2 Square Feet
- Dimensions: 13.11 x 16.11
Primary bedroom
- Level: Second
- Area: 211.2 Square Feet
- Dimensions: 13.11 x 16.11
Primary bedroom
- Level: Second
- Area: 211.2 Square Feet
- Dimensions: 13.11 x 16.11
Primary bedroom
- Level: Second
- Area: 211.2 Square Feet
- Dimensions: 13.11 x 16.11
Bedroom
- Description: Per Unit
- Level: First
- Area: 147.74 Square Feet
- Dimensions: 12.11 x 12.2
Bedroom
- Description: Per Unit
- Level: Second
- Area: 157.38 Square Feet
- Dimensions: 12.9 x 12.2
Bedroom
- Level: First
- Area: 147.62 Square Feet
- Dimensions: 12.1 x 12.2
Bedroom
- Level: Second
- Area: 157.38 Square Feet
- Dimensions: 12.9 x 12.2
Bedroom
- Level: First
- Area: 147.62 Square Feet
- Dimensions: 12.1 x 12.2
Bedroom
- Level: Second
- Area: 157.38 Square Feet
- Dimensions: 12.9 x 12.2
Bedroom
- Level: First
- Area: 147.62 Square Feet
- Dimensions: 12.1 x 12.2
Bedroom
- Level: Second
- Area: 157.38 Square Feet
- Dimensions: 12.9 x 12.2
Bedroom
- Level: First
- Area: 147.62 Square Feet
- Dimensions: 12.1 x 12.2
Bedroom
- Level: Second
- Area: 157.38 Square Feet
- Dimensions: 12.9 x 12.2
Bedroom
- Level: First
- Area: 147.62 Square Feet
- Dimensions: 12.1 x 12.2
Other
- Description: Per Unit
- Level: First
- Area: 135.1 Square Feet
- Dimensions: 19.3 x 7
Other
- Description: Per Unit
- Level: Second
- Area: 135.1 Square Feet
- Dimensions: 19.3 x 7
Dining area
- Description: Per Unit
- Level: First
- Area: 119.43 Square Feet
- Dimensions: 13.11 x 9.11
Living room
- Description: Per Unit
- Level: First
- Area: 309.61 Square Feet
- Dimensions: 18.9 x 16.4
Cooling
- Central Air, Ceiling Fan(s)
Appliances
- Included: Dishwasher, Microwave, Refrigerator
Features
- Elevator
Interior area
- Total structure area: 17,088
- Total interior livable area: 17,088 sqft
Property
Parking
- Total spaces: 18
- Parking features: Attached Carport, Carport, Covered
- Carport spaces: 18
Features
- Stories: 3
- Has view: Yes
- View description: Gulf, Lake
- Has water view: Yes
- Water view: Gulf,Lake
Lot
- Size: 0.82 Acres
- Features: Covenants, Restrictions, Within 1/2 Mile to Water
Details
- Parcel number: 013S203403000000B0
- Zoning description: Resid Multi-Family
Construction
Type & style
- Home type: Townhouse
- Property subtype: Townhouse
Condition
- Under Construction
- New construction: No
- Year built: 2026
Community & HOA
Community
- Security: Smoke Detector(s)
- Subdivision: Blu Wave Luxury Residences
Location
- Region: Santa Rosa Beach
Financial & listing details
- Price per square foot: $526/sqft
- Tax assessed value: $1,071,600
- Annual tax amount: $8,318
- Date on market: 7/10/2026
- Road surface type: Paved
Estimated market value
$8,164,200
$7.76M - $8.65M
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 8/21/2026 | Price change | $8,995,000-14.3%$526/sqft |
Source:  ECAOR #1007386 Report a problem | ||
| 7/10/2026 | Listed for sale | $10,500,000+976.9%$614/sqft |
Source: ECAOR #1007386 Report a problem | ||
| 7/16/2021 | Sold | $975,000+229.5%$57/sqft |
Source: Public Record Report a problem | ||
| 12/5/2014 | Sold | $295,900$17/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $8,318 +27.5% | $785,840 +10% |
| 2024 | $6,526 +0.5% | $714,400 |
| 2023 | $6,491 -11.7% | $714,400 -9.9% |
| 2022 | $7,349 +101.3% | $792,984 +110.2% |
| 2021 | $3,651 -2.1% | $377,203 +1% |
| 2020 | $3,730 +3.5% | $373,631 +3% |
| 2019 | $3,604 | $362,915 +3% |
| 2018 | $3,604 +3.6% | $352,199 +3% |
| 2017 | $3,480 +6.9% | $341,840 +19.6% |
| 2016 | $3,256 +13.9% | $285,760 +7% |
| 2015 | $2,859 +5.3% | $267,185 +42.9% |
| 2014 | $2,716 | $187,000 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 32459
Nearby schools
Schools provided by the listing agent
- Elementary: Dune Lakes
- Middle: Emerald Coast
- High: South Walton
Source: ECAOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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