San Carlos condos were finished in 2007 in the midst of a volatile market. San Carlos was developed by the same developer as the Lighthouse condos in downtown Gulf Shores, but what a difference a year can make. Upon completion of San Carlos, a large portion of the original buyers did not close on their units due to the faltering Gulf Shores real estate market. The aforementioned developer was left holding approximately 80% of the units. Alas, he could not continue paying interest for the entire building causing the note holder to force his hand. Shortly after he allowed the condos of San Carlos to enter foreclosure, we began to see what turned out to be a trend in our area for a solid year: real estate auctions. San Carlos became one of the first Gulf Shores, Alabama real estate auctions and over 1,400 potential investors participated to purchase the units at discounted prices. Subsequent to this auction, a negative perception was spawned which seemed to last for almost a full year. What really happened was many San Carlos buyers got great deals on very nice, well-built condos.
Today San Carlos represents a solid investment opportunity with rentals booming. The negative stigma surrounding the San Carlos condos has dissipated, leaving in its place a popular reputation among visitors and residents to Gulf Shores. Some of the best deals on a beach-front condo can be found at San Carlos. The condo development is just a short walk from the Gulf Shores Hangout, all of downtown Gulf Shores, and the Gulf State Park. San Carlos is also approximately one-quarter of a mile from the Alabama State Fishing Pier. San Carlos would make both a good investment property, primary residence, or second home in central Gulf Shores, Alabama.