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VIRGA REALTY, INC.
209 Oleander Drive, Panama City Beach, FL 32413
- $1,199,000
- 4
- BD
- 4
- BA
- List Price
- $1,199,000
- Status
- ACTIVE
- MLS#
- 797399
- Subtype
- Residential
- Style
- Coastal
- Year Built
- 1964
- Bedrooms
- 4
- Bathrooms
- 4
- Full Baths
- 3
- Half Baths
- 1
- Lot Size
- 9,583
- Acres
- 0.22
- Subdivision
- Laguna Beach Estates 7th Add
- Neighborhood
- Beach - West Central
- MLS Area Major
- Bay County - Beach
Property Description
COASTAL LIVING MEETS INCOME POTENTIAL IN LAGUNA BEACH! With projected annual rental income of $85,000 from the existing residences, 209 Oleander Drive offers an exceptional opportunity to enjoy the beach while putting your investment to work. The owner currently occupies the main home, leaving substantial income potential to unlock by renting both residences. Under 500 steps to the beach, this versatile property sits on nearly a quarter acre and combines multiple living spaces, established short-term rental history, generous storage, and flexibility for personal use or investment. Remodeled in 2017, the main residence features bright, inviting living spaces, an open, functional flow, and a private outdoor area perfect for unwinding after the beach or entertaining guests. The separate carriage house/ADU, built in 2023, adds immediate rental appeal and includes a two-car garage with its own entrance. Depending on your vision and needs, the carriage house garage could readily lend itself to finishing as another unit. This added opportunity could potentially bring total annual rental income up as well! A separate 30x30 insulated workshop with plumbing already in place provides exceptional space for hobbies, vehicles, beach gear, or recreational storage. Both residences include full appliance packages, tankless water heaters, walk-in showers, and smoke detectors. City water and sewer, one shared water/sewer bill, and two separate electric meters add everyday convenience. Whether you envision a full-time coastal home with rental income, a beach getaway that helps support itself, or a dedicated investment property, 209 Oleander Drive delivers a compelling combination of location, versatility, and income potential--with room to grow. Schedule your private showing and discover the possibilities.
Additional Information
- Interior Features
- Double Vanity, Main Level Primary, Smart Thermostat
- Exterior Features
- Outdoor Shower, Porch
- Community Features
- Laguna Beach
- Property Description
- Coastal
- Zoning
- Resid Single Family
- Flooring
- Plank, Vinyl
- Appliances
- Washer/Dryer Stacked, ENERGY STAR Qualified Appliances, Electric Cooktop, Electric Oven, Electric Range, Water Softener Owned, Tankless Water Heater
- Heating
- Central, Electric, ENERGY STAR Qualified Equipment, Heat Pump, Other, See Remarks
- Air Conditioning
- Central Air, Ductless, ENERGY STAR Qualified Equipment
- Exterior Construction
- Block, HardiPlank Type
- Roof
- Metal
- Foundation
- Slab
- Parking
- Additional Parking, Paved
- Garage Spaces
- 4
- Elementary School
- West Bay
- Middle School
- Surfside
- High School
- Arnold
Listing courtesy of Keller Williams Realty Emerald.