For sale - Active Under Contract

503 Mandalay Dr

Beds
2
Bathrooms
2
sqft
1,147
sq.ft
$266

About this place

WOW...A mere stroll to Lakewood Waterfront Park & a half-mile to Island Cove Marina & Pelicans Perch Marina sits this REMARKABLE REMODELED STUNNING PROPERTY! Looking to downsize home yet have room for beloved pets OR extra room for recreational toys? How about a place where you can live in one & rent another to offset bills? This mid-century home with attached garage with a gambrel-style 16' x 32' outbuilding on a near HALF-ACRE checks all boxes! The finished home WITH SEWER & 200 amp makes it an easy connection to the outbuilding. Homes in Lakewood Subdivision were built to stand the test of time & NO HOA...so bring your recreational toys. In 2017-2020 home was gutted down to studs & remodeled from inside out with new roof, plumbing, rewiring, windows, vinyl-siding, insulation, decking, 2.5 ton HVAC System, water heater & more. Wood floors & interior painting were recently done along with a new gravel drive with pave edging & a custom landing pad off the 3/4 wrap-around cedar-stained deck. The roof on home & outbuilding are both 2017. A mere stroll to the waterfront park where you can paddle right to the Oar House Waterfront Restaurant, renowned Joe Patti's Seafood Market or the newly opened Beach Park with trails. Booming Downtown & Naval Air Station are a mere drive, in fact, Pensacola's own 'Blue Angels' practice weekly right over Lakewood, giving you front row seating....WOW! Longtime owner says, "home has never flooded" Home is in an "X" zone & sits right outside city limits. This home is a "WOW" factor....call a Realtor to view, you'll be glad you did~

Courtesy of WaterFrontCity Realty LLC

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Property Highlights

Property type Single Family Residence
Bedrooms 2
Bathrooms 2
Status Active Under Contract
City Pensacola
Zip 32507
Square feet 1,147 sqft
County Escambia - Fl
Subdivision Lakewood
Updated Aug 14, 2026
MLS ID 683654

Exterior Features

Roof See listing details
Construction Features Single Family Residence
Parking 2 spaces
Waterfront Nearby / listed

Interior Features

Bedrooms 2
Bathrooms 2
Square Feet 1,147 sq.ft
Property Type Single Family Residence

Financial Details

List Price $305,000
Estimated Payment $1,952/mo
Price per Sq.Ft $266
Status Active Under Contract

Location

County Escambia - Fl
City Pensacola
Subdivision Lakewood
ZIP Code 32507

Schools

Elementary School Warrington Elementary
Middle School BAILEY
High School Escambia

503 Mandalay Dr is located in Pensacola, FL 32507

Payment calculator

$1,952 per month 30 year fixed, 7.25% interest

Down payment estimate: $61,000. Taxes, insurance, HOA fees, and lender costs are not included.