57 Penelope Street | Spears Group

Property Description

Welcome to Funky Flamingo located at 57 Penelope Street in Miramar Beach, Florida. This custom-built beachside mansion is located 0.4mi away from a community beach access and grossed over $200,000 in short term rental revenue in 2024 and has projections of $224,000 for 2025 from the current manager. Funky Flamingo boasts 8 bedrooms, 7.5 bathrooms, and over 3,700 heated & cooled square feet. This custom-built masterpiece has unique and exceptional outdoor spaces that set it apart from other vacation rental-style properties in the area: Funky Flamingo has a covered, screened-in outdoor patio & entertainment space complete with a stainless steel gas kitchen and a covered, outdoor living room furnished with a television plus seating for 14 people. The entertainment and outdoor kitchen area connects seamlessly to the 30'x12' heated pool & spa. Crowning the home is a third story screened-in sunset deck complete with a retro-themed arcade & entertainment room that provide a relaxing space to enjoy our stunning coastal sunsets.

The home's open floorplan is perfect for comfortably entertaining large groups, and the chef's kitchen is framed with chic nickel-gap shiplap and adorned with high-end stainless steel appliances. A bedroom with a king-sized bed and full ensuite bath on the first floor ensures a mobility-friendly floorplan, and the seven additional bedrooms on the higher floors are both spacious and elegant.

One unique aspect about this floor plan that I love is each floor having a dedicated entertainment or relaxation space; the first floor has the spacious living room & outdoor entertainment area, the second floor has a cafe-inspired sitting area complete with a dining table & coffee bar, and the third floor has a retro arcade trimmed out with a full kitchenette & wet bar.

This home is centrally located within minutes of world-class shopping & dining at Grand Boulevard, Baytowne Wharf, Sandestin Outlet Mall, or the Destin Commons. It's also less than 10 minutes from Scenic Highway 30a, Topsail State Park, and Sacred Heart Hospital. 57 Penelope Street is located in Frangista Beach Phase II, a gated subdivision with a dedicated, gated beach access located less than half a mile away at the intersection of Scenic Highway 98 and Hollywood Street.

Overview

Property Status

For Sale

MLS ID

967315

Property Type

Residential

Year Built

2022

Features & Amenities

Neighborhood

Miramar Beach

Architecture Styles

Beach House

Stories

Utilites

Electric, Gas - Natural, Phone, Public Sewer, Public Water, TV Cable

Pool

Pool Type

Lot Features

Within 1/2 Mile to Water

Other Exterior Features

Balcony, BBQ Pit/Grill, Deck Covered, Deck Enclosed, Fenced Back Yard, Fenced Privacy, Patio Enclosed, Pool - Heated, Pool - In-Ground, Summer Kitchen

Elementary School

Destin

Middle School

Destin

High School

Destin

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