4 Beds
4 Baths
Full Baths: 3 Half Baths: 1
2,798 SqFt
1964 Year Built

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.

Listed by Keller Williams Realty SRB

GALLERY

209 Oleander DR, Panama City Beach, FL 32413

PROPERTY DETAIL

Key Details

Property Type Other Types
Sub Type Duplex - All Units
Listing Status Active
Purchase Type For Sale
Square Footage 2, 798 sqft
Price per Sqft $428
Subdivision Laguna Beach Estates 7Th Addn
MLS Listing ID 1014881
Style Duplex
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 Duplex - All Units
Source Emerald Coast Association of REALTORS®
Land Area 2798
Location

State FL
County Bay
Area 27 - Bay County
Zoning Resid Multi-Family
Direction Corner of First and Oleander
Rooms

Family Room true
Primary Bedroom Level Main
Master Bedroom true
Kitchen true
Building

Lot Description Interior, Within 1/2 Mile to Water
Faces Corner of First and Oleander
Sewer Public Sewer
Architectural Style Duplex
Additional Building Workshop
New Construction No

Interior

Interior Features Ceiling Crwn Molding, Fireplace, Pantry, Washer/Dryer Hookup
Heating Heat Pump Air To Air, Central
Cooling Central Air
Flooring Floor Vinyl
Window Features Window Treatment All
Appliance Cooktop, Dishwasher, Dryer, Microwave, Range Hood, Refrigerator, Security System, Smoke Detector, Stove/Oven Electric, Washer, Water Heater - Tnkls
Laundry true
Exterior

Exterior Feature Balcony, Fenced Back Yard, Hurricane Shutters, Shower, Covered Patio, Enclosed Patio, Fenced Backyard, Workshop, Outdoor Shower, Hurricane Shutters, Balcony, Renovated
Parking Features Garage Detached, Oversized
Garage Spaces 4.0
Utilities Available Electric, Public Water, TV Cable, Underground
Roof Type Metal
Street Surface Paved
Porch Patio Covered, Patio Enclosed
Road Frontage City Street
Garage Yes
Schools

Elementary Schools West Bay
Middle Schools Surfside
High Schools Arnold
Others

Pets Allowed No
Tax ID 36813-000-000