Fountain Beach Resort, a 148-room hotel, was built in 1973 and was converted to condo-hotel by then owner Bhagwan Asnani in 1998-1999. Located one building south of the intersection of Atlantic Avenue and International Speedway Blvd., it is attracting visitors, who want to be in the center of all Beachside activities and be able to reach them on foot.
The resort has outdoor inground oceanfront pool, Tiki Bar, miniature golf…
There are 14 units for sale in this centrally located oceanfront condo-hotel. Comparing it to other condo-hotel, Fountain Beach Resort is doing pretty well. The resort is in good shape both physically and financially.
Surprisingly, they are doing better than some other condo-hotels, that used to be a level or two up and enjoyed better clientele. Fountain Beach Resort moved up and outperformed a few others.
Hospitality is a tricky business, and making predictions about condo-hotels here is useless. In the time I am involved with condo-hotels some have risen out of the ashes (sounds better than if I said from the dirt :), and some have lost the luster.
Fountain Beach Resort in numbers
Of course, when you are doing well, it reflects on the prices. The lowest price in Fountain Beach Resort is $51,999. 8 units out of 14 are under $60K. There are also 2 one-bedroom units starting from $79,900.
5 units so far sold in 2016. There were 10 units sold last year. Sounds like the market is still pacing itself. Compare it to very low prices of units sold in 2014, but there were 17 sales. Yep, when you see units selling in the $20s, this is not really surprising, people still take property management pretty serious, make sure that you get the best property management company that you can find.
Anyway, Fountain Beach Resort is doing fine. No, they are not a really classy place, but they are a strong and well-performing condo-hotel. Well located, clean and stably run.