First-Floor Condo with Screened
32541 Water View Drive 10-A Loxley, AL 36551
32541 Water View Drive 10-A, Loxley, AL, 36551
$485,000
For Sale
$485,000
First-floor 3 bed, 3 bath condo with en-suite bedrooms, wood floors, and screened porch with golf and lake views.
Property Size2,063 SF
Price / SF$235.09
Days on Market11
Property Features for 32541 Water View Drive 10-A
General Information
- Standard status
- Active
- Size
- 2,063 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 2006
Listing agency
Bellator Real Estate LLC Gulf
(251) 616-0724
Listed by
Brittany Brown · License #111753
(251) 616-0724
Source
Exitrealty
Added: Jul 12 Updated: Jul 21 at 4:09PM Checked: Jul 22 at 8:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bellator Real Estate LLC Gulf
Investment Insights
Based on property information with market context.
This updated first-floor condominium offers three bedrooms and three bathrooms, with each bedroom featuring an en-suite layout. The home includes wood floors, an inviting indoor fireplace, and a charming outdoor fireplace on a spacious screened porch. The primary bathroom features a large walk-in closet, a private water closet, and a separate shower and tub. Additional interior highlights include a butler’s pantry with a sink, refrigerator, and extra cabinet storage, along with generous closet space throughout.
The unit is set within a secluded, gated community spanning more than 1,500 acres. Community amenities described in the listing include a newly renovated golf course and a serene 200-acre private lake, with the screened porch offering views of the Steelwood golf course and the lake.
Exterior storage is provided with a covered garage and an enclosed golf course garage. The kitchen is updated with granite countertops, a tile backsplash, and a trash pull-out. Buyer to verify all information during due diligence.
The unit is set within a secluded, gated community spanning more than 1,500 acres. Community amenities described in the listing include a newly renovated golf course and a serene 200-acre private lake, with the screened porch offering views of the Steelwood golf course and the lake.
Exterior storage is provided with a covered garage and an enclosed golf course garage. The kitchen is updated with granite countertops, a tile backsplash, and a trash pull-out. Buyer to verify all information during due diligence.
Key Highlights
- First‑floor condominium built in 2006 with 3 bedrooms and 3 bathrooms, each bedroom with an en‑suite
- Updated unit with indoor fireplace, plus an outdoor fireplace on an expansive screened porch
- Screened porch offers views of the Steelwood golf course and over 200‑acre lake
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.2k | $15.60 |
| − Vacancy | −$1.6k | −$0.78 |
| EGI | $30.6k | $14.82 |
| − OpEx | −$13.8k | −$6.67 |
| NOI | $16.8k | $8.15 |
2,063 SF · lease $15.60/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$240.2K
$210.2K – $280.3K
NOI $16,816 @ 7.0% cap · market cap 3.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$496.1K
$434.1K – $578.8K
NOI $34,728 @ 7.0% cap · market cap 7.16%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Residential income properties
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FAQs
What type of property is this?
Residential income property - First-floor 3 bed, 3 bath condo with en-suite bedrooms, wood floors, and screened porch with golf and lake views.
Where is this residential income property located?
The property is located at 32541 Water View Drive 10-A Loxley, AL.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: First‑floor condominium built in 2006 with 3 bedrooms and 3 bathrooms, each bedroom with an en‑suite; Updated unit with indoor fireplace, plus an outdoor fireplace on an expansive screened porch; Screened porch offers views of the Steelwood golf course and over 200‑acre lake
