$999,900
3 Bed 3.5 Bath Waterfront Townhouse for Sale in TIGUA CAY CONDO, FL
487 E Gulf Drive, Sanibel, FL, 33957
About this home
EXCEPTIONAL PROPERTY PRICED TO SELL - GULF FRONTAGE TOWNHOUSE WITH PRIVATE ELEVATOR! This 2-story, 2244 sq ft townhouse is set in a unique year-round private residential community—no rentals allowed—offering unmatched tranquility and exclusivity. Situated directly ON THE BEACH with 250 feet of pristine GULF FRONTAGE, it features BRAND-NEW IMPACT WINDOWS, a private elevator opening to a dramatic great room with stone floors, soaring 2-story coral walls, and a fireplace. The interior is free from hurricane damage or water intrusion, and a new pool is scheduled for completion this fall. Floor-to-ceiling windows fill the home with natural light, complemented by electric shutters for convenience and privacy. Enjoy a chef’s kitchen with generous space for both cooking and dining, a primary suite with deck access, and a spacious 2-car garage with extra storage. A new pool will be completed this fall. This is the perfect property to embrace the coastal lifestyle at an unbeatable value! THIS PROPERTY QUALIFIES FOR A 1% LENDER INCENTIVE IF USING PREFERRED LENDER, INQUIRE FOR MORE DETAILS**. Renderings that showcase furniture have been virtually staged.
Property details
- Type
- Townhouse
- Year built
- 1982
- Interior
- 2,244 sqft
- Lot size
- 3,515.292 sqft
- Acreage
- 0.08 acres
- Garage
- 2 car
- Days on market
- 25
- Total association fees
- $32,000/yr (~$2,667/mo)
- CDD
- None
- Est. taxes (1.4%)
- $13,999/yr
- Flood zone (area est.)
- Not available
- Storm protection
- Impact Windows/Doors
- Exposure
- Southeast
- 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
What the association dues cover, per the MLS. Confirm the full schedule with the HOA.
Amenities
Based on the $/sqft of 3 comparable homes sold nearby in the last 12 months. Indicative, not an appraisal.
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Your notes on this home
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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.
| Address | Sold | Sold price | Beds/Baths | Sq ft | $/sqft |
|---|---|---|---|---|---|
| 284 Ferry Landing Drive | Apr 2026 | $1,215,000 | 3/2 | 2,148 | $566 |
| 946 Whelk Drive | Apr 2026 | $1,140,000 | 3/2 | 2,179 | $523 |
| 1019 Lindgren Boulevard | Mar 2026 | $975,000 | 3/2 | 2,250 | $433 |
| Average | 3 comps | $1,110,000 | $507 |
Market trends — Sanibel
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
Down $24,900 (2.5%) from the original list price.
| Sep 23, 2025 | Sold | $975,000 |
| Aug 14, 2025 | Listed | $999,900 |
The good, the trade-offs & the location
- Gulf access (Direct — Gulf frontage)
- Storm protection: Impact Windows/Doors
- 2-car garage
- Built 1982 — pre-2002 construction may carry older wind codes and higher insurance
- Higher association fees (~$32,000/yr)
Straight-line distances to major SWFL amenities — approximate; actual drive times vary.
Nearby schools
Get more information on their programs, scores, and extracurriculars on each school's page · browse the full schools directory.
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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.