Crystal Sand views and strong rental history in iconic building

| June 1, 2017

By Rodger Drouin

Crystal Sands is an iconic community, easily recognizable by the S shape of it’s 12-story high-rise on the beach.

Located right on Crescent Beach, in addition to 131 one and two-bedroom units in the high-rise, there are 22 villas in the luxury community. Units rarely come on the market, with only four selling in the past year, and when they do, the units are in high demand, say realtors.

Matt Moore, a realtor with Trend RE LLC, says Crystal Sands is an attractive locale for buyers who are interested in either a full-time paradise or a unit they can live in seasonally and rent out as a vacation rental during other times of the year.

Moore and colleague Joshua Blank have a renovated, two-bedroom unit currently listed for sale for $1.049 million. The 11th floor unit’s main feature is a panoramic view that includes not only beach and water, but a nice view of Downtown Sarasota and the Village on Siesta Key, Moore told Siesta Sand.

A two-week minimum rental period and a strong rental history within the community make Crystal Sands a great investment property, adds Realtor Bob Ruiz, of Key Solutions Real Estate. “The condominium has on-site management, concierge, and rental services to assist with owners' every need,” Ruiz said.

Ruiz notes the S-shape of the main building, constructed in 1970, is a landmark on the Key. “It serves as a beacon for anyone searching for his/her whereabouts on the beach,” he said.

The high-rise building's height and shape, as well as its location on the beach, also make for incredible views from virtually every unit in the building. Situated almost midway between Siesta and Crescent Beaches, views extend from the north end of the Key to Point of Rocks and beyond, Ruiz noted.

Over the past year, only four units have sold — all in the high-rise building —and the 11th floor unit for sale was the only one listed on the market as of press time. Moore said many owners keep ownership of their unit within the family. Thus rarely-available units are highly-desirable when they come on the market.

The units with the most optimal views — those on higher floors and on the “left” side of the building — tend to list for higher prices.

Moore estimates that about 70 percent of owners in the high-rise rent their units at least part of the year, and about 30 percent reside full-time there.

Moore shared a rental history of the unit he has listed with Siesta Sand. In calendar year 2014, the two-bedroom unit had an overall rental history of $45,780. In 2015, it brought in $60,453; as well as $48,919 in 2016, and $42,181 thus far in 2017. The unit has 1,271 square feet, and the list price comes out to $825 a square foot.

The furnished condo unit features quartz kitchen counters, LG stainless appliances and solid wood cabinets. Light tile plank flooring throughout complete the light and bright feel of the unit. Other features, according to MLS information, include: a new hurricane slider in the living room and both bedrooms; two renovated bathrooms; plantation shutters, new washer and dryer; and expanded second bedroom that allows for two queen size beds.

The amenities on the gated property grounds offer 2 pools, grilling and picnic areas, carport parking, and it is pet friendly. Many units have washer/dryers inside the unit — for others, community laundry facilities are available. 

According to the Crystal Sands website, a villa that was available for rent had room to sleep six. The villa has a King bed and two twin beds, and includes a washer and dryer inside.
• There are four units that sold recently in Crystal Sands. All four units were two-bedroom, two bath units:

In April, 2017, a 1,271-square-foot unit sold for $700,000, or $551 a square foot. This modern spacious condo came furnished and offered an open kitchen and a split bedroom floor plan with walk-in closets. Interior features, according to MLS information, includes stainless steel appliances, Kraftmaid cabinetry, granite counter tops and a designer back splash. Other features included new sliding doors in both bedrooms and the living room, opening to the screened lanai.

In October, 2016, a unit with 1,271 square feet sold for $755 a square foot. The unit had been listed for $960,000, and sold for the list price. The unit has a Gulf view.

Also in October, another unit sold for $810,000, or $637 a square foot. The 1,271-square-foot unit was completely renovated with a beachy, elegant atmosphere, and includes an updated kitchen. Brand new floors and water heater were also installed, according to MLS information.

An 11th floor 1,240 square foot unit sold for $690,000, or $556 a square foot, in May, 2016. The end unit has an expanded lanai. 

Tags: , ,

Category: Columns

Comments are closed.