4 Beds
4 Baths
2,798 SqFt
4 Beds
4 Baths
2,798 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,798 sqft
Price per Sqft $489
Subdivision Laguna Beach Estates 7Th Add
MLS Listing ID 785643
Bedrooms 4
Full Baths 3
Half Baths 1
HOA Y/N No
Year Built 1964
Annual Tax Amount $4,972
Tax Year 2025
Property Sub-Type Multi Family
Property Description
Welcome to 209 Oleander Drive, ideally located in the heart of Panama City Beach on a spacious L-shaped lot, just steps from the sugar-white sands and emerald waters of the Gulf (less than 600 steps to the beach!). This versatile property is perfect as a primary residence, second home, or income producing short-term rental with two separate living spaces.
The main house, currently owner-occupied and remodeled in 2017, features bright living spaces and a functional, open flow that is welcoming for both owners and guests. Step outside to enjoy a private outdoor area perfect for relaxing after a day at the beach or entertaining visitors.
A standout feature is the 30x30 insulated workshop, offering endless possibilities. With plumbing already in place, it could easily be converted into an additional rental unit, used for a home business, or serve as storage for vehicles or a collection.
The property also includes a carriage house (ADU) built in 2023, complete with a two-car garage. Over the past two years, this unit has generated $20,000 annually in short-term rental income, making it an excellent opportunity for buyers seeking immediate investment potential. The two-car garage with separate entrance also offers the option to be converted into additional rental space.
Both homes include a full appliance package, tankless water heaters, walk-in showers, and smoke detectors. The property is connected to city water and sewer (no septic), with one shared water/sewer bill and two separate electric meters. Refer to upgrade list in document section.
Whether you're looking for a personal beach retreat, an income-producing property, or a combination of both, this unique opportunity offers flexibility, expansion potential, ample storage, and an unbeatable location.
Schedule your showing today and discover the possibilities of beach living and investment in Panama City Beach!
Location
State FL
County Bay
Community Short Term Rental Allowed
Area 03 - Bay County - Beach
Interior
Interior Features Smart Thermostat
Heating Central, ENERGY STAR Qualified Equipment, Heat Pump, Other, See Remarks
Cooling Central Air, Ductless, ENERGY STAR Qualified Equipment
Flooring Luxury Vinyl Plank
Fireplace No
Appliance Washer/Dryer Stacked, ENERGY STAR Qualified Appliances, Electric Cooktop, Electric Oven, Electric Range, Water Softener Owned, Tankless Water Heater
Laundry Stacked
Exterior
Exterior Feature Patio, Outdoor Shower, Porch
Parking Features Additional Parking, Paved
Garage Spaces 3.0
Garage Description 3.0
Fence Fenced, Partial
Community Features Short Term Rental Allowed
Utilities Available Cable Connected, Sewer Available, Underground Utilities
Roof Type Metal
Porch Balcony, Enclosed, Covered, Patio, Porch, Screened
Private Pool No
Building
Lot Description Sprinkler System, Paved
Foundation Slab
Additional Building Garage(s)
New Construction No
Schools
Elementary Schools West Bay
Middle Schools Surfside
High Schools Arnold
Others
Tax ID 36813-000-000
Security Features Secured Garage/Parking,Security System,Smoke Detector(s)
Special Listing Condition Listed As-Is
Nearby Locations
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755b Grand Blvd 105286, Miramar Beach, Florida, 32550, USA