2 Beds
2 Baths
1,086 sqft
$395,000
8727 Thomas Drive C34, Panama City Beach FL, 32408
Price per sqft$363.72
Built in1974
Property size1,086 sqft
Property typeCondominium
Overview
Sold
Closed
Listed Sep 9, 2022
Updated 2 weeks ago
LOWEST PRICED GULF VIEW 2 BED / 2 BATH CONDO IN PCB! Investors Dream - Unbelievable ROI Potential!!!
Sugar Beach is a treasured community where time stands still and lifelong memories are made with family and friends!
The serene gulf views from the Master Bedroom, Living Room, Dining Room, and Balcony are truly awe inspiring, and the world renowned action of Thomas Drive can easily be experienced from your 3rd floor front balcony.
2 bed/2 bath condos in Sugar Beach are true rental machines, and this one is sure to be no exception. Both bathrooms boast beautiful dark accent granite countertops, new vanities ready to be installed (if desired), and the designer tile flooring in all rooms (except bedrooms) are perfect for ensuring the unit is always ready made for beach going renters. The owners love the relaxing coastal decor and laid back "beachy" vibes, but understand that the new owners will have exciting ideas on how they will customize it to match their vision of paradise. The list price was thoughtfully determined to ensure the new owners have ample opportunity to make it the perfect home for themselves - while still ensuring that it is an incredible investment that pays dividends for years to come!
Choose one, or choose all... Here are some estimated potential upgrade costs:
1. LVP Flooring through entire condo: $4,000
2. Stainless Fridge: $700
3. Stainless Stove: $700
4. Stainless Dishwasher: $400
5. 2 Panel Door Replacements for bedrooms and bathrooms: $400
6. Remove Wallpaper and Paint Entire Condo: $1,600
7. Custom tile shower, new toilet, remove drop panel ceiling, install new vanity/lights/fixtures in master bathroom: $5,000
8. New shower door, new toilet, new vanity/fixtures, remove wallpaper and paint: $3,000
9. New Bedroom and Patio Furniture: $5,000
TOTAL FOR A BRAND NEW CUSTOM INTERIOR: $20,800
Brand new hurricane windows were just installed 2 months ago ($4k).
The unit comes fully furnished and is rental ready, but should you choose to redo everything listed above, you are only $409,800 invested, everything is new and exactly as you like it, and you are still $20k lower than the next comparable condo for sale, and your unit is comparable to condo immediately next door that has brought in $81k in rentals this year!
The entire months of January and February are already booked!
At these numbers... your annual ROI is well over 30% - which is unheard of nowadays!
Now you can see... this one is a steal at this price!!!
Sugar Beach has everything you could ask for to ensure enormous rental income. It is one of the few remaining pet friendly vacation destinations in PCB - which is a HUGE amenity for renters (giving you a truly competitive advantage). Gated community, no elevators, park directly at your door, private gated beach access, pool, tennis, shuffleboard, grilling area, huge koi/turtle pond right out your back door, countless nearby restaurants/activities, and the list goes on!
Banks offer less than a 1% annual ROI, and stocks and crypto values have been declining. On a financed purchase, enjoy an UNBELIEVABLE 4-36% annual ROI with this amazing investment opportunity! (% is fully dependent on owner's rental approach)
Welcome home to Paradise!!!
*Low quarterly HOA Fees include water, trash, cable, exterior insurance, grounds keeping, 24 hour video surveillance, community amenities (pool, tennis court x 2, shuffleboard, Koi pond, community room/kitchen, ping pong), on site maintenance 8 hours daily, onsite property management Mon-Fri, and private gated beach access.
*Measurements are approximate, buyer to verify if needed*
Additional information
- MLS® ID
- 732020
Interior Features
- Bedrooms
- 2
- Bathrooms
- 2
- Cooling
- Yes
- Heating
- Yes
- Basement
- No
Other Property Details
- Taxes
- $2,391
- Tax Frequency
- Annually
- Association Fee Frequency
- Quarterly
- View
- Yes
- Pool
- Yes
Courtesy of Beachy Beach Real Estate, Garrett S Aune,
Listing Contact: 850-588-8908
All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Rachel Warrell shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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