709 E Beach Drive, Panama City, FL 32401 (MLS# 753256)

709 E Beach Drive, Panama City, FL 32401

$1,000,000

Virtual Tour

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Property Type: Residential Bedrooms: 8 Baths: 4 Square Footage: 3,696 Lot Size (sq. ft.): 8,102 Status: Sold

Current Price: $1,000,000 List Date: 2/23/2024 Last Modified: 9/26/2024

Overview

Description

Currently under contract – seller accepting back up offers. A truly unbelievable RARE opportunity to own a multi-family QUAD that is waterfront in the historic Cove neighborhood awaits. This quad-plex sits on the corner of Beach Drive and Cherry Streets and boasts the most incredible sunsets in Panama City, Florida! This multi-family home is comprised of four units, all of equal size, and has 2 bedrooms, 1 bath in each as well as their own stackable washer/dryer in each unit. Each unit is metered separately for water, sewer and electricity making it an easy income-producing investment. The property offers parking in the back of the home and is large enough to add a pool which would create an even more profitable investment! Imagine the guests and tenants that would rent a historic waterfront unit this close to the fast-growing Downtown District of Panama City! With the notoriety of the historical landmark of ''Bunkers Point Building'' by the Historical Society of Bay County, this i … (Read more) Currently under contract – seller accepting back up offers. A truly unbelievable RARE opportunity to own a multi-family QUAD that is waterfront in the historic Cove neighborhood awaits. This quad-plex sits on the corner of Beach Drive and Cherry Streets and boasts the most incredible sunsets in Panama City, Florida! This multi-family home is comprised of four units, all of equal size, and has 2 bedrooms, 1 bath in each as well as their own stackable washer/dryer in each unit. Each unit is metered separately for water, sewer and electricity making it an easy income-producing investment. The property offers parking in the back of the home and is large enough to add a pool which would create an even more profitable investment! Imagine the guests and tenants that would rent a historic waterfront unit this close to the fast-growing Downtown District of Panama City! With the notoriety of the historical landmark of ”Bunkers Point Building” by the Historical Society of Bay County, this is sure to be a draw for guests and tenants alike! The property offers little to maintenance, as well. The home had a new roof installed in November 2018 and each unit had new appliances, hot water heaters, HVAC and stackable washer/dryers in 2019. This property located in the heart of the Cove and adjacent to Downtown Panama City offers walkability to restaurants, shopping, farmers markets, festivals and more! Watch the fireworks for July 4, take waterfront strolls along Beach Drive and sit in your front yard enamored with the shimmering water views of St. Andrews Bay! This property is zoned MU-3 providing many possibilities for a buyer. Currently being used a long term rental, short term rentals ARE ALLOWED and gives a savvy investor the opportunity to increase rents and maximize the return on this waterfront gem! Other uses for MU-3 include but are certainly not limited to: bed and breakfasts, private school, professional offices, grocery and convenience retail store, food establishment and so much more! Please see the City of Panama City for full zoning information. Two of the units can be accessed from the ground level and two of the units can be accessed from the second level. Each unit is single level throughout. The units each have a bedroom and living room that face the beautiful waterfront. There is a kitchen, bedroom and bathroom overlooking the lush landscaping and hundred year old oak trees in the back yard. The dining room is conveniently located in the center of the unit and makes for a great open layout! This is an amazing opportunity for an investor looking to expand their multi-family portfolio, a professional looking to create an office in a neighborhood and have income producing units above, or an individual looking to live in one unit and rent the other three year-round. The possibilities are ENDLESS with this waterfront multi-family QUAD!

Listing Details MLS# 753256

Contract Info

List Price/SqFt: 270.56

Location

Area: 02 – Bay County – Central
Street #: 709
Street Direction: E
Street Name: Beach
Street Suffix: Drive
State: FL
Zip Code: 32401
County: Bay
Sub Area: 0203 – Bay – Central SW
Subdivision: Harmon Plat
Community/Resort: DIB District
Waterfront: Yes
Parcel ID: 20311-000-000
Elementary School: Cherry Street
Middle School: Jinks
High School: Bay
Directions: From East Hwy 98: Veer right onto Beck Avenue. Turn left onto 9th Street. Turn right onto Frankford Avenue and it will turn into Beach Drive. Follow Beach Drive through Downtown Panama City. Cross over drawbridge and home will be on the corner of Beach Drive and Cherry Street.
Legal Description: HARMON PLAT LOT 6 BLK 7 ORB 1280 P 1250 ORB 4730 P 200 MAPC3

General Property Info

Sub-Type: Quadplex Multi-Units
Design: N/A
Apx SqFt(Htd/Cooled): 3696
SqFt Source: Prop App Site
Full Baths: 4
Total Baths: 4
# of Stories in Building: 2
# of Units in Bldg: 4
Year Built: 1943
Immediate Occupancy: Yes
Pre-Const Flip: No
Construction Status: Construction Complete
Garage Y/N: No
Driveway Spaces: 6
Lot Dimensions: 85×167
Acreage: 0.19
Lot Size (SqFt): 8102

Status Change Info

Under Contract Date: 2024-02-27
Sold Date: 2024-03-28
Sold Price/SqFt: 270.56
Sold Price/Acre: 5263157.89

Listing Info, Tax and Legal

Homestead: No
HOA Fee: No
New Buyer Fee: No
Last Taxes: 2825
Last Tax Year: 2023
Brokerage Interest: No Interest
As Is: Yes

Remarks & Misc

Remarks: Currently under contract – seller accepting back up offers. A truly unbelievable RARE opportunity to own a multi-family QUAD that is waterfront in the historic Cove neighborhood awaits. This quad-plex sits on the corner of Beach Drive and Cherry Streets and boasts the most incredible sunsets in Panama City, Florida! This multi-family home is comprised of four units, all of equal size, and has 2 bedrooms, 1 bath in each as well as their own stackable washer/dryer in each unit. Each unit is metered separately for water, sewer and electricity making it an easy income-producing investment. The property offers parking in the back of the home and is large enough to add a pool which would create an even more profitable investment! Imagine the guests and tenants that would rent a historic waterfront unit this close to the fast-growing Downtown District of Panama City! With the notoriety of the historical landmark of ''Bunkers Point Building'' by the Historical Society of Bay County, this is sure to be a draw for guests and tenants alike! The property offers little to maintenance, as well. The home had a new roof installed in November 2018 and each unit had new appliances, hot water heaters, HVAC and stackable washer/dryers in 2019. This property located in the heart of the Cove and adjacent to Downtown Panama City offers walkability to restaurants, shopping, farmers markets, festivals and more! Watch the fireworks for July 4, take waterfront strolls along Beach Drive and sit in your front yard enamored with the shimmering water views of St. Andrews Bay! This property is zoned MU-3 providing many possibilities for a buyer. Currently being used a long term rental, short term rentals ARE ALLOWED and gives a savvy investor the opportunity to increase rents and maximize the return on this waterfront gem! Other uses for MU-3 include but are certainly not limited to: bed and breakfasts, private school, professional offices, grocery and convenience retail store, food establishment and so much more! Please see the City of Panama City for full zoning information. Two of the units can be accessed from the ground level and two of the units can be accessed from the second level. Each unit is single level throughout. The units each have a bedroom and living room that face the beautiful waterfront. There is a kitchen, bedroom and bathroom overlooking the lush landscaping and hundred year old oak trees in the back yard. The dining room is conveniently located in the center of the unit and makes for a great open layout! This is an amazing opportunity for an investor looking to expand their multi-family portfolio, a professional looking to create an office in a neighborhood and have income producing units above, or an individual looking to live in one unit and rent the other three year-round. The possibilities are ENDLESS with this waterfront multi-family QUAD!

More Information

Dining Room

First: Yes

Laundry

First: Yes

Pantry

First: Yes

Appliances

Dishwasher: Yes
Dryer: Yes
Range – Electric: Yes
Refrigerator: Yes
Washer: Yes
Washer/Dryer Stacked: Yes
Water Heater – Electric: Yes

Interior Features

Washer/Dryer Hookup: Yes
Floor – Hardwood: Yes
Floor – Tile: Yes

Construction/Siding

Brick: Yes
Foundation – Off Grade: Yes
Roof – Shingle/Shake: Yes

Exterior

Fenced Lot-Part: Yes
Porch: Yes
Porch Covered: Yes
Sprinkler System: Yes

Waterfront Feature

Shore – Seawall: Yes
Other – See Remarks: Yes

Financing

Cash: Yes
Conventional: Yes
FHA: Yes
VA: Yes

Furnished

Unfurnished: Yes

Kitchen

First: Yes

Living Room

First: Yes

Lot Features

Corner Lot: Yes
Waterfront: Yes
Within 1/2 Mile to Water: Yes

Lot Access

City Street: Yes
Paved Road: Yes

Present Zoning

Commercial: Yes
Other – See Remarks: Yes

Association Amenities

Waterfront: Yes

Rooms

Bedroom: Yes
Dining Room: Yes
Full Bathroom: Yes
Kitchen: Yes
Laundry: Yes
Living Room: Yes
Pantry: Yes

Utilities

Electricity – Connected: Yes
Public Sewer – Connected: Yes
Water Connected: Yes

Waterview

Bay: Yes

Sale Type

As Is: Yes

Full Bathroom

First: Yes

Waterfront Type

Bay/Harbor: Yes
See Remarks: Yes

Bedroom

First: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes
Electric: Yes

Heating

Central: Yes
Electric: Yes

Property Features

Appliances: Dishwasher; Dryer; Range – Electric; Refrigerator; Washer; Washer/Dryer Stacked; Water Heater – Electric Full Bathroom: First Bedroom: First Cooling: Ceiling Fan(s); Central Air; Electric Heating: Central; Electric Exterior: Fenced Lot-Part; Porch; Porch Covered; Sprinkler System Financing: Cash; Conventional; FHA; VA Furnished: Unfurnished Kitchen: First Living Room: First Lot Features: Corner Lot; Waterfront; Within 1/2 Mile to Water Lot Access: City Street; Paved Road Dining Room: First Laundry: First Pantry: First Association Amenities: Waterfront Rooms: Bedroom; Dining Room; Full Bathroom; Kitchen; Laundry; Living Room; Pantry Sale Type: As Is Utilities: Electricity – Connected; Public Sewer – Connected; Water Connected Waterfront Type: Bay/Harbor; See Remarks Waterfront Feature: Shore – Seawall; Other – See Remarks Waterview: Bay Present Zoning: Commercial; Other – See Remarks

Room Information

Room Name	Level	Dimensions	Length	Width	Remarks
Bedroom	First	13.1 x 11.1	13.10	11.10	Each unit are equal in size.
Bedroom	First	12.6 x 11	12.60	11.00	Each unit are equal in size.
Living Room	First	14.8 x 11.9	14.80	11.90	Each unit are equal in size.
Kitchen	First	9 x 7.5	9.00	7.50	Each unit are equal in size.
Full Bathroom	First	8.6 x 6	8.60	6.00	Each unit are equal in size.
Dining Room	First	7.2 x 10.6	7.20	10.60	Each unit are equal in size.
Laundry	First	2.5 x 2.5	2.50	2.50	Each unit are equal in size.
Pantry	First	2 x 2	2.00	2.00	Each unit are equal in size.

Listing Office: Corcoran Reverie

Last Updated: September – 26 – 2024

Information deemed reliable but not guaranteed.