Turn-Key Gulf-Front Investment with Proven Rental Income at Island Princess Welcome to one of Okaloosa Island's premier Gulf-front resorts where strong rental history meets effortless coastal living. This beautifully maintained 2-bedroom, 2-bath unit has been owned by the same owner for over 20 years and offers a consistent, proven rental track record making it an exceptional opportunity for investors or those seeking a second home that pays for itself.
Step inside to a spacious, open floor plan designed to maximize both comfort and views. Enjoy unobstructed Gulf views from the living room and primary suite, with two access points leading to a private covered balcony perfect for morning coffee, sunset watching, and spotting dolphins right offshore. This unit is truly turn-key and rental -ready, offered fully furnished with updated décor and furnishings, stainless steel appliances, updated gold kitchen and bath hardware, all white kitchen cabinets and countertops giving the luxurious-beachy vibe, plus an updated HVAC system and water heater. Additional conveniences include deeded covered parking and in-unit laundry. Residents and guests enjoy resort-style amenities including a Gulf-front pool, hot tub, beach service available for guest, and approximately 500 feet of pristine white sand beach. Location is everything and this unit delivers. Just minutes from: The Boardwalk on Okaloosa Island for dining, shopping, and nightlife Gulfarium Marine Adventure Park for family-friendly entertainment Okaloosa Island Pier for fishing and sightseeing
HarborWalk Village just a short drive away for waterfront dining, boating, and events. Plus easy access to grocery stores, beach shops, and local favorites throughout Fort Walton Beach and Destin Whether you're looking for a high-performing vacation rental, a second home, or a full-time beachfront retreat, this unit checks every box.
For sale
$615,000
520 Santa Rosa Blvd APT 405, Fort Walton Beach, FL 32548
2beds
1,089sqft
Condominium
Built in 1999
-- sqft lot
$-- Zestimate®
$565/sqft
$-- HOA
What's special
Gulf-front resortIn-unit laundrySpacious open floor planStainless steel appliances
- 69 days |
- 412 |
- 25 |
Zillow last checked:
Listing updated:
Listed by:
Marisela F Molnar 850-305-0936,
ERA American Real Estate
Source: ECAOR,MLS#: 1001274
Loading...
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 2
- Full bathrooms: 2
Primary bedroom
- Level: First
- Area: 180 Square Feet
- Dimensions: 15 x 12
Bedroom
- Level: First
- Area: 132 Square Feet
- Dimensions: 12 x 11
Kitchen
- Level: First
- Area: 96 Square Feet
- Dimensions: 12 x 8
Living room
- Description: Living room/ Dining room combined
- Level: First
- Area: 270 Square Feet
- Dimensions: 18 x 15
Heating
- Central
Cooling
- Central Air, Ceiling Fan(s)
Appliances
- Included: Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Washer, Electric Water Heater
- Laundry: Washer/Dryer Hookup
Features
- Breakfast Bar, Owner's Closet
- Flooring: Laminate, Tile
- Windows: Window Treatments
- Furnished: Yes
Interior area
- Total structure area: 1,089
- Total interior livable area: 1,089 sqft
Property
Parking
- Total spaces: 1
- Parking features: Deeded, Covered
- Has garage: Yes
- Covered spaces: 1
Features
- Exterior features: Balcony
- Has view: Yes
- View description: Gulf
- Has water view: Yes
- Water view: Gulf
- Waterfront features: Gulf, Gulf/Pass, Waterfront
Details
- Parcel number: 002S24419300000405
Construction
Type & style
- Home type: Condo
- Property subtype: Condominium
Materials
- Concrete, Stucco
Condition
- Construction Complete
- New construction: No
- Year built: 1999
Utilities & green energy
- Water: Public
Community & HOA
Community
- Features: BBQ Pit/Grill, Beach, Community Room, Deed Access, Elevators, Fitness Center, Pool, TV Cable, Waterfront, Short Term Rental - Allowed
- Security: Fire Alarm, Smoke Detector(s)
- Subdivision: ISLAND PRINCESS
HOA
- Has HOA: Yes
- Services included: Maintenance Grounds, Insurance, Licenses/Permits, Management, Recreational Faclty, Sewer, Cable TV, Trash, Water
Location
- Region: Fort Walton Beach
Financial & listing details
- Price per square foot: $565/sqft
- Tax assessed value: $537,000
- Annual tax amount: $6,337
- Date on market: 4/22/2026
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 4/22/2026 | Listed for sale | $615,000+113.9%$565/sqft |
Source:  ECAOR #1001274 Report a problem | ||
| 7/31/2002 | Sold | $287,500+10%$264/sqft |
Source: Public Record Report a problem | ||
| 9/21/2000 | Sold | $261,400$240/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $6,337 +6.7% | $439,230 -14.2% |
| 2023 | $5,940 +9.1% | $512,000 +10.1% |
| 2022 | $5,446 +19.6% | $465,000 +40.9% |
| 2021 | $4,555 +5.8% | $330,000 +1.5% |
| 2020 | $4,305 -2.4% | $325,000 |
| 2019 | $4,411 +14.9% | $325,000 +18.2% |
| 2018 | $3,838 | $275,000 +5% |
| 2017 | $3,838 +2.1% | $262,000 +5% |
| 2016 | $3,761 +7.3% | $249,500 +9.9% |
| 2015 | $3,504 +6.5% | $227,000 +5.6% |
| 2014 | $3,291 | $215,000 +2.9% |
| 2013 | -- | $209,000 |
| 2012 | -- | $209,000 -5.9% |
| 2011 | -- | $222,000 -9.4% |
| 2010 | -- | $245,000 -18.6% |
| 2009 | -- | $301,000 -10.4% |
| 2008 | -- | $336,000 -19.2% |
| 2007 | -- | $416,000 -10.9% |
| 2006 | -- | $467,000 +838.7% |
| 2005 | -- | $49,750 -80.8% |
| 2004 | -- | $259,000 +15.9% |
| 2003 | -- | $223,500 +1.4% |
| 2002 | -- | $220,500 +9.7% |
| 2001 | -- | $201,000 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: Okaloosa Island
Nearby schools
GreatSchools rating
- 5/10Elliott Point Elementary SchoolGrades: PK-5Distance: 1.8 mi
- 7/10Max Bruner Junior Middle SchoolGrades: 6-8Distance: 2 mi
- 5/10Fort Walton Beach High SchoolGrades: 9-12Distance: 2.1 mi
Schools provided by the listing agent
- Elementary: Elliott Point
- Middle: Bruner
- High: Choctawhatchee
Source: ECAOR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
A local lender can help you make sure your offer is ready when you are.
- Florida
- Okaloosa County
- Fort Walton Beach
- 32548
- Okaloosa Island
- 520 Santa Rosa Blvd Apartment 405
Nearby cities
Nearby neighborhoods
Nearby zip codes
Other Fort Walton Beach Topics
- Apartments for Rent in 32548
- Houses for Sale in 32548
- Houses for Rent in 32548
- 32548 Real Estate
- Fort Walton Beach Condos
- Houses for Sale in Fort Walton Beach
- Newest Listings in Fort Walton Beach
- Fort Walton Beach Home Values
- Fort Walton Beach Real Estate Agents
- Fort Walton Beach Refinance
- Fort Walton Beach Mortgage Rates
