Fountain Beach Resort in Daytona Beach is a condo-hotel. Built in 1973 and converted to condo-hotel in 1998-1999, this 149-room direct oceanfront condo-hotel is enviably located within waling distance from Main Street and all entertainment and dining in this area.
This and it’s own bar attracts event goers.
Converted on a shoestring budget, it is not a high end condo-hotel, so if you are looking for a la Trump Towers, this is not it. I do not know how many stars, if any, it has, but many bikers and racers feel here at home.
So, what does this home offer? 113 studios (343 sq. ft. + 49 sq. ft. balcony with the view of the ocean) and 18 suites (consisting of two rooms converted into a 1-bedr condo unit with 2 bathrooms and 2 balconies).
Maintenance fee for a studio is $344.50 a month. Double for suites (double the size, two voting rights, and double the maintenance).
The association is managed by a subcontracted company, however, they are running the Front Desk and the Bar. Contrary to popular belief that if you do it yourself, your get more money.
Professional hotel management companies usually beat self rented properties, but this turns to be a very difficult notion for the Board of Directors to accept. So, rental are not a bragging point. Consequently, rental income is not bragging point as well.
So, if you plan to live off that income, it won’t happen. It will result in condo-hotel anorexia (LOL). But then, condo-hotels are not income producing properties. They are vacation condos, where there is a rental program that helps you offset your expenses. Of course, you can make a few bucks, but you might as well have to bring a few bucks to be current on your obligations.
And, please, condo-hotels are not time shares, so to the question “how many weeks do I get if I buy?”, the answer is 52.
There are 9 units for sale in Fountain Beach Resort at this time. Please, do not ask me why so many. In a healthy market it usually 7% of units on the market. So, 9 is a bit under 7%.
Interestingly, the least expensive studio is at the same time the nicest unit in the resort. The Seller did an excellent extensive remodeling. Worth every penny of it.
Unit 302 is the least expensive suite. It has also been remodeled. Has a good view of the ocean. And at $58,900, it is a heck of a price. Highlighted are suites.
If condo-hotel units in Fountain Beach Resort or any other condo-hotel or condo in Daytona Beach area are of interest to you, call me 386-405-4408.
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