$599,997
Panama City, FL 32401
MLS# 766434
2907 sqft
1 / 54
Property Description
Welcome to a Turnkey Investment Opportunity! This fully remodeled property at 116 Springfield Ave (2021) offers six detached single-family units, each featuring one bedroom, one spacious bathroom, a living area, and a kitchen. These units, completely updated in 2021, are fully occupied and generating $61,500 in annual gross income with rent rolls available. The updates include new (2021) 30-year dimensional shingle roofs, energy-efficient windows, updated electrical wiring, fresh sheetrock, paint, and luxury vinyl plank flooring, as well as new kitchen cabinets and countertops. Each unit is individually metered for water and electricity, ensuring efficient management. This property is an excellent addition to any investment portfolio.
Details
Maps
Contract Info
List Date: 2024-12-21
List Price: $599,997
List Price/SqFt: 206.4
Current Price: $599,997
Sub-Type: Multi-Family
Location
Area: 02 - Bay County - Central
Street #: 116
Street Name: Springfield
Street Suffix: Avenue
State: FL
Zip Code: 32401
County: Bay
Sub Area: 0202 - Bay - Central SE
Subdivision: [No Recorded Subdiv]
Community/Resort: None
Waterfront: No
Parcel ID: 24226-000-000
Elementary School: Cherry Street
Middle School: Everitt
High School: Rutherford
Directions: From Bay Medical Center, head south on North Bonita Ave. for approximately .2 miles. Turn left on Bus-US 98. Continue for approximately 1.6 miles and take a right onto Everitt Ave. Proceed approximately .6 miles and take a left on E First Court. Proceed to second street (700 ft) and take a left onto Springfield Ave. Property will be on the corner lot on the right
Legal Description: N MOORETOWN (1.15) LOTS 1,2 BLK 9 ORB 4686 P 914
General Property Info
List Class: Residential Income
Construction Status: Construction Complete
Site Dimensions: 154x100x154x101
Acreage: 0.31
SqFt Tot Bldg: 2907
Year Built: 1952
Status Change Info
Status: Active
Multi-Family
# of Units: 6
Actual Gross Income: 61500
Property Features
Financing: Cash; Conventional
Present Zoning: Resid Multi-Family
Sale Type: As Is
Utilities: Electricity - Connected; Public Sewer - Connected; Water Connected
Listing Office: ERA Neubauer Real Estate Inc
Last Updated: August - 29 - 2025
Information deemed reliable but not guaranteed.