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3240 Gulf Of Mexico Dr #B504, Longboat Key, FL, 34228

$547/sqft·Portobello

2 bd2 ba1,260 sqftCondominium
Listed by KW COASTAL LIVING III· Last updated · MLS# A4702237

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Est. monthly payment
$4,611/mo
Down payment (20%)
$137,800
Property taxes
$673/mo
Rate assumed
6.8% · 30 yr
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At a glance

Condo
5 stories · 1975
Waterfront
Bay/Harbor
Community pool
Shared amenity
Assigned parking
Private balcony
Outdoor space

About this home

Ceiling Fans(s)Crown MoldingLiving Room/Dining Room ComboOpen FloorplanSplit BedroomStone CountersThermostatWalk-in Closet(s)

3240 Gulf Of Mexico Dr #B504 is a 1975-built home in Portobello, Longboat Key. Inside you'll find 2 bedrooms, 2 bathrooms, and 1,260 square feet of living space. Listed at $689,000 (about $547/sqft), 26 days on market. Flood zone X - outside the FEMA high-risk areas, which keeps insurance manageable.

From the listing

Welcome to Portobello, a Gulf to Bay community on mid Longboat Key where residents enjoy their own private beach access just across the street and a bayside dock right outside the door. This beautifully remodeled, turnkey furnished fifth floor condo overlooks the quiet waters of Cranes Bayou, positioned to catch soft morning light while the terrace stays comfortably shaded through the afternoon. Inside, the open floor plan is filled with natural light and finished with new laminate wood flooring, crown molding, plantation shutters, and new light fixtures throughout. The updated kitchen offers stainless steel appliances, custom white cabinetry with crown molding, under cabinet lighting, and a breakfast bar that opens to the dining area. The split bedroom layout is ideal for hosting guests. The oversized primary suite features its own water views, space for a king sized bed, an oversized walk in closet, and an en suite bath with a smart split sink and shower design, while the equally spacious second bedroom sits beside a fully updated second bath. A sleeper sofa in the living room allows the condo to comfortably sleep six, and an in unit washer and dryer adds everyday convenience. The full length screened terrace spans the entire width of the unit and is accessible through new impact sliding doors from the living room and both bedrooms, so the water view follows you from room to room. Portobello's amenities complete the picture. A BRAND NEW AC unit was installed in September 2026, ensuring peace of mind for years to come. Residents enjoy a heated pool with tennis courts, a fully renovated recreation room, kayak and canoe storage with a launch area, and a dock and walkway for fishing or docking your boat for up to two days. A bayside picnic area with a gas grill and umbrella tables sits near the kayak launch, perfect for sunset cookouts by the water. Just across the street, Portobello's private beach access puts the Gulf and its sugar sand shoreline a short stroll from your door, complete with a beach shower for rinsing off after a day in the sand. Each unit has its own extra ground floor storage locker, and the freshly painted, recently inspected building is centered on a lush tropical courtyard with a fountain, surrounded by beautifully landscaped grounds with paver parking. Condominium fees include water, sewer, trash, and basic cable. You are also just moments from everyday shopping and convenience at the Shoppes of Bay Isles, home to a Publix, CVS, and more, all without ever leaving the island, while St. Armands Circle and downtown Sarasota are an easy drive down the Key. With upgraded windows and doors, furnishings, appliances, and modern baths already in place, this is a Longboat Key retreat ready to enjoy from the very first day. Come experience it for yourself. **THIS PROPERTY QUALIFIES FOR A 1% LENDER INCENTIVE IF USING PREFERRED LENDER. INQUIRE FOR MORE DETAILS.**

The essentials

Built
1975
Price / sqft
$547
On market
29 days
Annual tax
$8,079
Flood zone
X · Low risk
Type
Condominium

Location

3240 Gulf Of Mexico Dr #B504
Longboat Key, FL, 34228·34228 - Longboat Key
Type
Condominium
Year Built
1975
Lot
-
Cooling
Central Air
Heating
Central, Electric
Parking
Assigned, Guest
Waterfront
Bay/Harbor, Bayou, Intracoastal Waterway
Days on Market
29
Ceiling Fans(s)
Crown Molding
Living Room/Dining Room Combo
Open Floorplan
Split Bedroom
Stone Counters
Thermostat
Walk-in Closet(s)
Window Treatments
Balcony
Courtyard
Lighting
Storage
Association Recreation - Owned
Buyer Approval Required
Clubhouse
Community Mailbox
Deed Restrictions
Pool
Tennis Court(s)
Dishwasher
Dryer
Microwave
Range
Refrigerator
Washer

Elementary

Southside Elementary

Middle

Booker Middle

High

Booker High

Districts can re-zone, so verify directly with the district before relying on these.

Flood Zone X

Annual Tax (2025)

$8,079

Parcel #

0005021059

Taxes reflect the most recent assessment in the MLS feed. Actual tax owed can vary, so confirm with the county property appraiser before closing.

Subdivision

Portobello

County

Sarasota

MLS Area

34228 - Longboat Key

City LimitsSidewalkPaved
Date
Event
Price
8/26/2026
Price change
Source: Stellar MLS #A4702237
$689,000-1.6%
$547/sqft
8/13/2026
Listed for sale
Source: Stellar MLS #A4702237
$700,000
$556/sqft
Est. monthly payment$4,611/mo
Principal & interest$3,593
Property taxes$673
Insurance$345
Down payment20% · $137,800
Interest rate6.80%
Loan term

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Property taxes are this home's actual annual bill from the MLS, divided by twelve. Insurance estimated at 0.60%. Rate defaults to 6.8% on a 30-year fixed. Tap a pencil to use your own numbers. Estimates only, not a loan quote.

Offer Insights

Choose an offer strength

List price: $689,000
$650,000 – $689,000
94.4% – 100% of listTops out right at the list price
80% of listList price
57 of the last 112 condo closings in 34228 landed at this number or higher (51%). The median one sat 88 days before it went under contract, and this one is on day 29 after a $11,000 cut.

Sample: 112 closed condo sales in 34228 over the last 8 months, Stellar MLS. A starting point, not a guarantee.

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