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Destin · Condo Building

Gulf Terrace Condos for Sale

A 1973 condominium community at Highway 98 and Airport Road in central Destin, where 216 residences sit across 27 separate buildings on gated grounds built around a lake, three pools and tennis courts.

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1973

Year Built

No

Gulf Front

Year built, floor and unit figures are as published by the sources cited at the foot of this page. Confirm them against the association's own documents during diligence.

About Gulf Terrace

Gulf Terrace is among the oldest condominium communities in Destin. The Okaloosa County Property Appraiser carries it under two recorded names, Gulf Terrace and Gulf Terrace Two, with an actual year built of 1973 on every one of its 216 unit parcels. Among the condominiums the county records in Destin with a year built before 1980, four carry an earlier recorded year and three others share 1973. The association's own count agrees exactly: 216 units, one vote each, across 27 separate buildings at Highway 98 and Airport Road. That layout is what a buyer is really choosing. Rather than one tower and one elevator core, ownership here is a share of 27 building envelopes and the ground between them: two gated entrances, three pools, a large lake with gazebos and green spaces, tennis courts, a clubhouse, picnic tables and outdoor barbecues, plus boat and trailer parking, a laundry facility, a business office staffed weekdays and full time maintenance, by the association's published amenity list. The beach is not at the door. iTrip Vacations Destin, which manages units at 4000 Gulf Terrace Drive, describes about 26 acres with the lake at the center and puts the sand about three quarters of a mile away, with the shops and restaurants of central Destin closer still. One filing note travels with the name: because the county carries the community under two recorded names, a listing that reads Gulf Terrace Two is describing a phase, not a separate association.

HOA & Fees

The assessment here maintains a spread-out plant rather than a single structure: 27 separate building envelopes, the grounds between them, and the shared lake, three pools, tennis courts, clubhouse and laundry facility the association publishes. The association states that each owner's assessment is a proportionate share of a maintenance and operations budget approved before the fiscal year begins, and that the bylaws and the rules and regulations are available at its office, so ask for the current approved budget rather than working from a listing figure. Age is the underwriting question at a community the county dates to 1973: weight the reserve study and the roofing and exterior-cycle history above the raw monthly number.

Rental Policy

The association's published FAQ states that the declaration of condominium provides that entire apartments may be rented by the owner, and allows an owner to enter into a written agreement with any rental agency approved by the association as the owner's agent to lease or rent the apartment. The same FAQ states that units may be occupied for residential purposes only and that occupancy limits and other restrictions sit in the bylaws and the rules and regulations, available at the association office. No published minimum stay length was found for this community, so treat stay length as unestablished until the recorded declaration answers it. Separately, iTrip Vacations Destin and Salt Water Vacay each market individual Gulf Terrace units to guests by arrival and departure date. Before relying on any of that, read the recorded declaration rather than a summary, confirm that any rental agency carries the association's approval, and establish where the unit itself sits with Destin's registration program for short stays.

  • Two gated entrances
  • Three community pools
  • Large lake with gazebos and green spaces
  • Tennis courts and clubhouse
  • Boat and trailer parking
  • On-site laundry and weekday business office

Live Inventory

Active Listings at Gulf Terrace

NewShort-term rental potential

$235,000

4000 Gulf Terrace Drive Unit 131

Destin, FL 32541

1 bd 1 ba 738 sqft
Short-term rental potential

$245,000

4000 Gulf Terrace Drive Unit 257

Destin, FL 32541

2 bd 1 ba 982 sqft
NewShort-term rental potential

$199,900

4000 Gulf Terrace Drive Unit 1001

Destin, FL 32541

1 bd 1 ba 738 sqft
Price ReducedShort-term rental potential

$235,000

4000 Gulf Terrace Drive Unit 259

Destin, FL 32541

2 bd 1 ba 982 sqft
Price ReducedShort-term rental potential

$214,900

4000 Gulf Terrace Drive Unit 210

Destin, FL 32541

2 bd 1 ba 982 sqft
Short-term rental potential

$240,000

4000 Gulf Terrace Drive Unit 293

Destin, FL 32541

1 bd 1 ba 900 sqft
NewShort-term rental potential

$265,000

4000 Gulf Terrace Drive Unit 228

Destin, FL 32541

2 bd 2 ba 738 sqft
Price ReducedShort-term rental potential

$309,000

4000 Gulf Terrace Drive Unit 166

Destin, FL 32541

2 bd 2 ba 982 sqft
Short-term rental potential

$248,000

4000 Gulf Terrace Drive Unit 134

Destin, FL 32541

1 bd 1 ba 738 sqft
Short-term rental potential

$275,000

4000 Gulf Terrace Drive Unit 206

Destin, FL 32541

2 bd 1 ba 982 sqft
Price ReducedShort-term rental potential

$229,800

4000 Gulf Terrace Drive Unit 159

Destin, FL 32541

2 bd 1 ba 982 sqft
Short-term rental potential

$195,000

4000 Gulf Terrace Drive Unit 263

Destin, FL 32541

1 bd 1 ba 738 sqft

The short-term rental badge above is not a permission of record. It reflects the MLS short-term-rental field where a listing discloses one, and otherwise where the home sits. Confirm the association's current rules and the local registration requirement before relying on it.

Showing 12 of 20 active listings at Gulf Terrace. See every active listing at Gulf Terrace

Building Answers

Gulf Terrace FAQ

Does the Gulf Terrace name mean the community fronts the water?

No, and the name catches first-time visitors out. The association places the community at Highway 98 and Airport Road, and iTrip Vacations Destin, which manages units here, describes the beach as a short three quarter mile walk rather than a step off the grounds. The water at the center of the property is the community's own lake. What the address does put close by, in the association's own account, is central Destin: shops, restaurants, Harbor Walk, fishing and boat rentals within minutes.

What do the association's documents say about renting a unit at Gulf Terrace?

The association's published FAQ says the declaration of condominium provides that entire apartments may be rented by the owner, and lets an owner appoint a rental agency approved by the association to act as the owner's agent. The same FAQ says units may be occupied for residential purposes only, with occupancy limits and further restrictions in the bylaws and rules and regulations kept at the association office. No minimum stay length is published, so read the recorded declaration itself, confirm any rental agency carries the association's approval, and settle where the unit stands under Destin's registration program before counting on a particular use.

What are the residences like at Gulf Terrace?

The association reports 216 units spread across 27 separate buildings, and the county property appraiser dates the community to 1973 with the same 216-unit count on its record. That is a very different ownership shape from a single tower: the grounds between the buildings, the lake, three pools, tennis courts and the clubhouse are all part of what the assessment carries.

Why do some Gulf Terrace listings mention a phase or a second name?

Because the community was platted in phases. The county property appraiser carries the units under two recorded names, Gulf Terrace and Gulf Terrace Two, totaling 216 units between them, and the association reports that same 216-unit total in one association, so a phase label in a listing is describing a section of the community rather than a separate association with separate documents. Confirm the legal description against the documents you are given during diligence.

Sources

Other Destin Condo Buildings

Destin Communities

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