Sold

Closed

8727 Thomas Drive A17

Panama City FL, 32408

$450,000


$257.14 per sqft

Sold

Closed

4 Beds

3 Baths

1,750 sqft

Condos

Built in 1974

DO NOT USE AS A COMP - DISTRESSED SELL. CONTACT LISTING AGENT FOR DETAILS.LOWEST PRICED 4 Bed / 3 Bath GULF VIEW Condo on the Entire Beach! In fact, it isn't just the lowest price condo on the beach today, this is the lowest priced condo we have seen in well over 3 years (by a lot)!!!With over $70k worth of brand-new hurricane doors and windows, a new HVAC system, new hot water heater, new carpeting upstairs, new LVP in several rooms, newer stainless appliances, new vanities in 2 of the bathrooms, fresh paint, and new porch coatings and rails on the front and back, this unit is 100% ready for the new owner to simply let their imagination run wild with new furniture and decor. The last 5 comps in this amazing community all sold for $85k-$185k more than this one, so at this price and in this condition, you are probably asking yourself, ''what's the catch?'' And to be perfectly honest... I totally get it. I see people listing condos at over inflated prices every day - with the strategy of accepting a much lower offer in order to get it sold. The rationale for the pricing is pretty simple - yet incredibly rare in today's market...This owner has had the condo well over 30 years, hasn't rented it out, has used it for creating unforgettable family memories over several generations, and has taken incredible care of their favorite beach getaway. Over time, life inevitably happens, and now the family is ready to move on to the next chapter in their life story.They are truly kind people, and don't see the need to over-price the condo and waste time negotiating back and forth on the price. They know they could have listed it much higher, then settle somewhere around this price, but that's not how they wanted to handle things. Instead, they wanted to go ahead and cut the ''back-and-forth'' out of things, and simply list it at a price where a new owner can come in, put a little into making it their own, and still have ample positive equity on day #1. Essentially - they are looking for a win/win for everyone!Like I said a minute ago... INCREDIBLY RARE in today's market to find such an honest seller, right?!?This unbelievable opportunity is what some people might consider a ''Unicorn.'' With an 11% ROI on just the average rental income of neighboring units, this condo offers everything an investor could ever look for. It is well below market value, all the big-ticket items are new, it offers an ROI that you simply can't find in today's market, and it offers insane instant equity... LOTS of it! Not only do the numbers more than speak for themselves, this incredibly spacious condo is perfectly situated on the highly desirable East end of the Beach - right on the Historic Thomas Dr. Just outside your front door, you will find some of PCB's most enjoyed restaurants, attractions, and nightlife, and more. Park directly at your front door (no elevators), and you will never have to touch your car again!When it is time to wind down for the evening, you will find one of the most unique greenspaces in all of PCB - right outside your 2 private balconies! Get lost in your thoughts gazing into the tranquil Koi pond, or simply take a stroll to the sugar white sands - just mere seconds from your door. With beautiful tropical landscaping, walking paths around the pond, and some of the best sunset's in town... Sugar Beach offers serenity unlike any other place in town.And when you add the fact that Sugar Beach has a competitive advantage over nearly every other condo in town (one of the only remaining ''Pet Friendly'' communities on the beach), it's easy to see why this ''once in a lifetime'' investment will be gone in the blink of an eye!

762609

MLS ID

September 13, 2024

Listed

November 22, 2024

Updated

Map

8727 Thomas Drive A17
Panama City FL, 32408

Interior Features

Total Stories

3


Bedrooms

4


Total Bathrooms

3


Full Bathrooms

3


Interior Features

Recessed Lighting, Skylights


Appliances

Washer/Dryer Stacked, Dishwasher, ENERGY STAR Qualified Appliances, Electric Oven, Disposal, Microwave, Refrigerator


Laundry Description

Stacked


Fireplace

No


Cooling

Yes


Cooling Description

Central Air, Ceiling Fan(s)


Heating

Yes


Heating Description

Central

Exterior/Building Features

Exterior Features

Built-in Barbecue, Balcony, Outdoor Shower


Lot Features

Landscaped


Architectual Style

Low Rise

School Information

High School

Arnold


Elementary School

Breakfast Point

Other Property Details

Area Name

03 - Bay County - Beach


Taxes

$4,839


Tax Frequency

Annually


Days on Market

26


Association Fee

$3,576


Association Fee Frequency

Quarterly


Association Amenities

Beach Rights, Gated, Picnic Area


Garage

No


Parking

Electric Gate, Gated, No Garage, Paved, Parking Lot


View

Yes


View Description

Gulf, Water


County

Bay


Pool

Yes


Pool Features

Fenced, In Ground, Community


Waterfront

Yes

Listing History

Date

Event

Price

11/1/2024

Sold

$450,000

10/10/2024

Under contract

 

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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