8727 Thomas DR #A17 Save Request In-Person Tour Request Virtual Tour
Panama City,FL 32408
Key Details
Property Type Condo
Sub Type Condominium
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 1,750 sqft
Price per Sqft $271
Subdivision Sugar Beach Condo
MLS Listing ID 762609
Style Low Rise
Bedrooms 4
Full Baths 3
HOA Fees $1,192/qua
Year Built 1974
Annual Tax Amount $4,839
Tax Year 2023
Property Description
Under Contract - Accepting ALL Back Up Offers.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!
Location
State FL
County Bay
Community Barbecue,Beach,Clubhouse,Laundry Facilities,Other,Park,See Remarks,Short Term Rental Allowed,Tennis Court(S),Waterfront,Gated,Pool,Sidewalks
Area 03 - Bay County - Beach
Rooms
Ensuite Laundry Stacked
Interior
Laundry Location Stacked
Heating Central
Cooling Central Air,Ceiling Fan(s)
Laundry Stacked
Exterior
Exterior Feature Built-in Barbecue,Balcony,Outdoor Shower
Garage Electric Gate,Gated,No Garage,Paved,Parking Lot
Fence Full
Pool Fenced,In Ground,Community
Community Features Barbecue,Beach,Clubhouse,Laundry Facilities,Other,Park,See Remarks,Short Term Rental Allowed,Tennis Court(s),Waterfront,Gated,Pool,Sidewalks
Utilities Available Cable Connected,Electricity Connected,Other,Phone Connected,See Remarks,Water Connected
Amenities Available Beach Rights,Gated,Picnic Area
Waterfront Yes
Waterfront Description Lake,Lake Front,Shoreline - Sand
View Y/N Yes
View Gulf,Water
Building
Lot Description Landscaped
Story 3
Schools
Elementary Schools Breakfast Point
Middle Schools Breakfast Point
High Schools Arnold
Others
Acceptable Financing Cash,Conventional,FHA,VA Loan
Listing Terms Cash,Conventional,FHA,VA Loan
Special Listing Condition Listed As-Is