Duplex with Private
For Sale
$700,000
1389 W Lagoon Avenue, Gulf Shores, AL 36542
Residential, Gulf Shores, AL
Property Size2,994 SF
Lot Size0.29 Acres
Price / SF$233.80
Days on Market56
Property Features for 1389 W Lagoon Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MultiFamily
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 6, Bedroom 1, Bedroom 5, Bathroom 4, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 2, Bathroom 3
Parking features
Carport
Patio and Porch features
Porch, Patio
Pets allowed
Yes
Interior features
En Suite, Storage, Ceiling Fan(s), High Ceilings, Vaulted Ceiling(s)
Fireplace
1
Appliances
Disposal, Microwave, Dishwasher, Refrigerator, Electric Range, Washer/Dryer Stacked, Smoke Detector
Subdivision
Sun Princess
Lot features
Less Than 1 Acre
Elementary school
Gulf Shores Elementary
Middle school
Gulf Shores Middle
High school
Gulf Shores High
Directions
Hwy 59 South to Gulf of America. Turn West on Beach Blvd. Veer to Right onto W. Lagoon Ave. Home on the left.
Standard status
Active
APN
67-06-24-3-001-106.000.901
Size
2,994 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Description
Unit A & B Sun Princess Condo In The City Of Gulf Shores Sec 24- T9s-R3e (Vld)
Tax Annual Amount
3161
Legal Description
Unit A & B Sun Princess Condo In The City Of Gulf Shores Sec 24- T9s-R3e (Vld)
Utilities
Heating system
Electric (Heating)
Water front features
Lagoon, Beach Access
Water front
1
Amenities
private pool
covered parking
washer/dryer
Building Details
Year built
1999
Floors in Building
1
Number of units
2
Flooring type
Vinyl
Roof type
Metal
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Real Broker, LLC
(855) 450-0442
Listed By:
Jill L Collins · License #109619
(334) 274-7145
Added: Aug 31
Changed: Oct 16
Last Checked: Oct 25 at 6:06AM
MLS# 409825
Copyright © 2026 Baldwin REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,994-square-foot duplex, built in 1999, includes two residences with three bedrooms and two bathrooms each. Both sides feature open layouts, granite countertops, and stackable washer/dryers. The property also has a private pool, extensive decking, individual decks, and covered parking. Impact-resistant windows and French doors in the bedrooms, living rooms, and kitchens were replaced in 2020.
The 0.2868-acre property offers access to public Gulf beach and Little Lagoon access points. Boats and RVs are permitted, and the property has no HOA. MultiFamily zoning is listed.
The 0.2868-acre property offers access to public Gulf beach and Little Lagoon access points. Boats and RVs are permitted, and the property has no HOA. MultiFamily zoning is listed.
Key Highlights
- Two residences, each with 3 bedrooms and 2 bathrooms
- 2,994 square feet on a 0.2868‑acre lot
- Private pool with extensive decking and separate decks for each side
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,418
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$548,360
$548.4K
Cap Rate 7%
$391,686
$391.7K
Cap Rate 9%
$304,644
$304.6K
Market Conditions
NOI Build-Up for 2,994 SF
Gross rent
$41.3K $13.80/SF
− Vacancy
−$2.1K −$0.72/SF
EGI
$39.2K $13.08/SF
− OpEx
−$11.8K −$3.92/SF
NOI
$27.4K $9.16/SF
Area
Baldwin County, AL
Vacancy
5.20%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$548,360
Cap Rate 7%
$391,686
Cap Rate 9%
$304,644
Alternative Uses
Best Use
Multifamily LT 5
$391.7K
$342.7K – $457.0K
NOI $27,418 @ 7.0% cap · market cap 3.92%
Second Best
Apartment 5plus
$348.6K
$305.1K – $406.7K
NOI $24,404 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$720.0K
$630.0K – $840.0K
NOI $50,400 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
135
Businesses Nearby
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Business Placement
Demographics for 36542, AL
16,993
Population
18,551
Households
0.9
Avg Household Size
51
Median Age
38%
College-Educated
95%
High-School Grad
52.0 sq mi
ZIP Area
327
Density / Sq Mi
$74,861
Median Household Income
$35,580
Median Earnings
$1,365
Median Rent
$366,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have three bedrooms, two bathrooms, and separate decks.
Where is this duplex located?
The property is located at 1389 W Lagoon Avenue Gulf Shores, AL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Two residences, each with 3 bedrooms and 2 bathrooms; 2,994 square feet on a 0.2868‑acre lot; Private pool with extensive decking and separate decks for each side
