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$2,850,000

Beds
8
Baths
7.5
sq ft
3,945

503 Albatross St, Panama City Beach, FL 32413

503 Albatross St

Panama City Beach, FL 32413

  • 92 days on market
Introducing 503 Albatross, an epitome of luxury and elegance nestled in the heart of Panama City Beach's coveted Bid-a-Wee community. This magnificent three-story masterpiece is not just a home; it's a gateway to a lifestyle marked by breathtaking Gulf views, unparalleled amenities, and an enviable proximity to a private, deeded beach access and the vibrant Margaritaville Resort.Designed with a discerning eye for detail, this sprawling 8-bedroom, 7.5-bath home exudes sophistication and comfort. Each floor has been meticulously crafted to offer ample space and privacy, making it ideal for large families or groups seeking a serene retreat. The third floor boasts a spacious family room complete with an oversized sectional, a foosball table, and stunning coastal furnishings that perfectly complement the home's elegant aesthetic.The heart of this home is its state-of-the-art kitchen, featuring top-of-the-line GE Cafe appliances and pristine quartz countertops. Custom trim and woodwork accentuate the space, creating an inviting environment for both casual meals and gourmet feasts. The open layout ensures that the kitchen flows seamlessly into the dining and living areas, making it perfect for entertaining.Step outside to discover your private haven. The expansive backyard is a paradise for outdoor enthusiasts, featuring an oversized saltwater pool, a sprawling patio, and ample seating areas for sunbathing or alfresco dining. The outdoor ping pong table and basketball games add a touch of fun for guests of all ages, ensuring every moment spent here is filled with joy. No detail has been overlooked in ensuring your comfort. Each bedroom is a sanctuary, offering ample space, cozy seating areas, and individual TVs. Dual washer and dryer sets on the second and third floors provide convenience, while the garage and drive offer parking for up to seven vehicles.This property is not only a dream home but also a lucrative investment opportunity. With short-term rentals allowed and a location in the highly popular Panama City Beach vacation market, projections indicate an impressive annual return of over $290K. The home's turn-key readiness, with elegant coastal furnishings and every conceivable amenity, ensures that it stands out in the rental market.Located just minutes from Pier Park, 30A and a short walk from your private deeded beach access, 503 Albatross places you at the heart of all that Panama City Beach has to offer. Whether you're seeking a tranquil escape or an active coastal lifestyle, this home provides the perfect balance of both.

Details

Property type

Single Family Residence

Lot size

9,148 sq ft

Price per sq ft

$723

Year built

2023

Annual property taxes

$2,593

Monthly HOA fee

$8.33

Price History

07/03/2024
CentralPanhandle

CentralPanhandle #759527

Listed
$2,850,000
+31.03%
04/07/2023
CentralPanhandle

CentralPanhandle #721385

Sold
$2,175,000

Schools & Community

Elementary school: 

Hutchison Beach

Middle school: 

Surfside

High school: 

Arnold

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

United Wholesale Mortgage

Loan start date

April 2023

Original loan amount

$1,740,000

Est. remaining balance

$1,709,331

Interest rate

6.32%

Loan type

New Conventional, 30 year

Seller

Kajal Joshi and Ajay Joshi

Lender

Ted Jeter Et Al

Loan start date

April 2023

Original loan amount

$225,000

Est. remaining balance

$117,815

Interest rate

6.32%

Loan type

Not Provided, 3 year

Seller

Ajay Joshi and Kajal Joshi

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 10/04/2024 at 11:00 PM

Listing updated: 09/26/2024 at 11:10 PM

Listed by: Clay Owens, Compass Florida, LLC Phone #: (305) 851-2820

MLS: CentralPanhandle #759527

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