2 Bed Waterfront Home for Sale in Sanibel
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For SaleMLS# 225041540

$1,095,000

2 Bed Waterfront Home for Sale in Sanibel

527 E Gulf Drive 203, Sanibel, FL, 33957

2 beds2 baths986 sqft
GatedBeach AccessCommunity PoolBoatingWaterfront

About this home

This is a rare and compelling opportunity to be part of one of Sanibel Island’s newest Gulf-front condominium developments, an offering that has not been seen on the island in decades. For discerning buyers who value both legacy and vision, this pre-construction phase presents an extraordinary chance to secure a residence in a truly limited and highly anticipated new coastal community. Set along a pristine stretch of Sanibel’s world-renowned shoreline, this two-bedroom, two-bath residence will capture sweeping panoramic views of the Gulf, where endless horizons and ever-changing light define the daily experience. Designed to reflect the refined simplicity of modern coastal living, the condominium will feature elevated ceiling heights, a dramatic wall of impact-rated glass along the Gulf side, and construction to the latest standards, bringing both beauty and peace of mind in a setting shaped by nature. What distinguishes this offering is its exceptional flexibility. The current owners are conveying their share in the association and will satisfy the $440,000 assessment at closing, delivering the residence to the next owner in “white box” condition upon completion. This allows the new owner to curate every interior detail, from materials and finishes to layout and design, creating a fully bespoke beachfront retreat tailored to individual taste and lifestyle. For those seeking scale and customization, an additional and unprecedented opportunity exists to acquire the neighboring residence, Unit 204. Together, the two mirror-image units present the potential to create a custom top-floor penthouse encompassing nearly 2,000 square feet, with four bedrooms and four baths. Bedrooms can be positioned along the perimeter, allowing for a grand, light-filled central living and entertaining space framed by private, sun-drenched retreats, an exceptionally rare configuration on Sanibel. Here, mornings begin with golden light across the Gulf, afternoons unfold along celebrated shelling beaches, and evenings are defined by the rhythm of the tides and moonlit waters. Located on Sanibel’s desirable east end, the community offers access to scenic bike paths, the historic lighthouse, charming boutiques, local dining, and the timeless island lifestyle that has drawn generations to its shores. Enjoy the natural beauty, low-density character, and quiet sophistication that define Sanibel, enhanced by the comfort, resilience, and modern elegance of new construction. This is more than an investment in real estate, it is an opportunity to shape your own coastal legacy.

Property details

Type
Condominium
Year built
1978
Interior
986 sqft
Lot size
8,999.496 sqft
Acreage
0.21 acres
Garage
None
Days on market
355
Total association fees
$6,900/yr (~$575/mo)
CDD
None
Est. taxes (1.4%)
$15,330/yr
Flood zone (area est.)
Not available
Storm protection
None listed
Exposure
South
Waterfront
Yes
Gulf access
Yes
Gulf access type
Direct — Gulf frontage
Pool
No
Spa
No
Natural gas
No
Water
Public
Sewer
Public Sewer
New construction
No
Pets
Call, Conditional
County
Lee

Total association fees sums the core association dues the MLS feed provides (HOA, condo/master association, and land lease), normalized to a yearly figure. These are separate from and additional to specialty charges, mandatory club or food-and-beverage minimums, special assessments, and rec-lease fees, which the IDX feed does not carry. Always confirm the full fee schedule with the HOA or listing agent.

Maintenance included in the fee

Other

What the association dues cover, per the MLS. Confirm the full schedule with the HOA.

Amenities

BeachRightsBeachAccessPoolManagement
Not yet ratedNot enough comparable sales nearby to rate this home's price yet.

We rate a home against recently SOLD homes within ~1 mile that match on size, beds/baths, and age. This home doesn't have enough close comparables in the last 12 months for a reliable read, ask Rick for a personalized CMA.

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Recently sold nearby

Closed comparable sales within ~1 mile in the last 12 months, similar price, size, beds/baths, and age.

AddressSoldSold priceBeds/BathsSq ft$/sqft
827 E Gulf Drive C6Jun 2026$970,0002/2967$1,003
Average1 comps$970,000$1,003

Market trends, Sanibel

Median list
$984,250
Median $/sqft
$608
Median sold (90d)
$877,000
Avg days on market
178
Active listings
242
Median sold price · Sanibel
$881,000last 3 months16.1% vs $1,050,000 prior 3 months
Median closed price by month · Sanibel
4.1% MoM3.3% YoY
$458k$879k$1.3MJul ’25Aug ’26
$885,000Aug ’26 · 21 sales

Median of closed MLS sales each month over the available window. Months with too few sales are omitted; the range extends automatically as more sales close.

Live area medians from the MLS · see all listings. Indicative, not an appraisal.

Price & status history

Up $346,000 (46.2%) from the original list price.

Feb 25, 2026Price increasedfrom $599,000$1,095,000
Apr 25, 2025Listed$749,000

The good, the trade-offs & the location

Pros
  • Gulf access (Direct — Gulf frontage)
Consider
  • Built 1978 — pre-2002 construction may carry older wind codes and higher insurance
  • No garage listed
Location convenienceHigh
Hospital
10.1 mi
HealthPark Medical Center
Beach
4.8 mi
Fort Myers Beach
Airport
14.1 mi
Page Field (Fort Myers)
Shopping
12.3 mi
Bell Tower Shops

Straight-line distances to major SWFL amenities, approximate; actual drive times vary.

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Listing information is provided in part by the Florida Gulf Coast Multiple Listing Service (MLS) through its Broker Reciprocity / Internet Data Exchange (IDX) program. Properties displayed may be listed by brokerages other than SWFL Relocation Team. Data is deemed reliable but is not guaranteed accurate by the MLS or this brokerage and should be independently verified. Fees, flood zones, taxes, square footage, and school assignments are estimates from the feed and must be confirmed. © 2026 SWFL Relocation Team. All rights reserved.