$818,000
Panama City, FL 32401
MLS# 789241
8 beds | 12 baths | 4028 sqft
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Property Description
Brand-New Quadruplex Across from MLK Recreation Center - Panama City, FL Prime investment opportunity in Panama City, Florida. This newly constructed quadruplex features four spacious 2-bedroom, 2-bathroom units (8 bedrooms / 12 bathrooms total) and is located directly across from the newly developed Martin Luther King Jr. Recreation Center. The 30,000+ square-foot recreation facility enhances long-term rental demand with amenities including indoor and outdoor basketball courts, gymnasium space, STEM labs, recording studio, playground, and community programming -- making this an attractive location for tenants. This property offers: • Brand-new construction • Modern layouts with strong rental appeal as each Bedroom has its own full bathroom• Low-maintenance design, with garage • High-demand infill location Ideal for buy-and-hold investors, 1031 exchange buyers, or portfolio expansion in the growing Bay County market. Each unit has been subdivided and has its own parcel id number for easy breakout if the units were to be sold independently. Each has its own water and electrical meter. Rental rates around $1700 each. Expected Cap Rate 7-8%.
Details
Maps
Listing Info, Tax and Legal
HOA Fee: No
New Buyer Fee: No
Brokerage Interest: Ownership Interest - Listing Broker/Salesperson has ownership interest in the property.
Contract Info
List Price/SqFt: 203.08
Status: Active
List Date: 2026-05-01
List Price: $818,000
Current Price: $818,000
Location
Unit #: A-D
Sub Area: 0203 - Bay - Central SW
Community/Resort: None
Waterfront: No
Elementary School: Northside
Middle School: Jinks
High School: Bay
Directions: From the Panama City Mall, continue south on Hwy 77, also known as N Cove Blvd and MLK Blvd. Cross over 15th St, just past Viktoriyas Coffee Shop you'll 1421 on your right. Turn onto Washington St to access property.
Area: 02 - Bay County - Central
Street #: 1421
Street Name: Martin Luther King Junior
Street Suffix: Boulevard
State: FL
Zip Code: 32401
County: Bay
Subdivision: Long Point Park 1st Add
Parcel ID: 17553-030-000
Legal Description: LINCOLN PARK 1ST ADD. BEG SW COR LOT 17 BLK 3 TH N 19.83' E 122.58' TO W ROW LI OF MLK BLVD TH S 19.83' TO N ROW LI OF WASHINGTON DR TH W 112.55' TO POB ORB 4968 P 512
General Property Info
Acreage: 0.18
Design: N/A
Lot Size (SqFt): 7841
Apx SqFt(Htd/Cooled): 4028
Construction Status: Construction Complete
SqFt Source: Builders Plans
Half Baths: 4
Lot Dimensions: 106 x 80
New Construction: Yes
Garage Y/N: Yes
Garage Spaces: 4
Pool: No
Sub-Type: Quadplex Multi-Units
Bedrooms: 8
Full Baths: 8
Total Baths: 12
Year Built: 2026
Remarks & Misc
Remarks: Brand-New Quadruplex Across from MLK Recreation Center - Panama City, FL Prime investment opportunity in Panama City, Florida. This newly constructed quadruplex features four spacious 2-bedroom, 2-bathroom units (8 bedrooms / 12 bathrooms total) and is located directly across from the newly developed Martin Luther King Jr. Recreation Center. The 30,000+ square-foot recreation facility enhances long-term rental demand with amenities including indoor and outdoor basketball courts, gymnasium space, STEM labs, recording studio, playground, and community programming -- making this an attractive location for tenants. This property offers: • Brand-new construction • Modern layouts with strong rental appeal as each Bedroom has its own full bathroom• Low-maintenance design, with garage • High-demand infill location Ideal for buy-and-hold investors, 1031 exchange buyers, or portfolio expansion in the growing Bay County market. Each unit has been subdivided and has its own parcel id number for easy breakout if the units were to be sold independently. Each has its own water and electrical meter. Rental rates around $1700 each. Expected Cap Rate 7-8%.
Appliances
Dishwasher: 1
Disposal: 1
Ice Maker: 1
Microwave: 1
Oven - Electric: 1
Range - Electric: 1
Interior Features
Floor - Vinyl Plank: 1
Lighting - Recessed: 1
Construction/Siding
Foundation - Slab on Grade: 1
Roof - Metal: 1
Siding - Hardie Board: 1
Trim - Hardie Board: 1
Furnished
Unfurnished: 1
Lot Features
Corner Lot: 1
Landscaped: 1
Lot Access
City Street: 1
Paved Road: 1
Parking Features
Driveway: 1
Garage Attached: 1
Garage Door Opener: 1
Mstr Bath / Mstr Bdrm
MBed Walk-in Closet: 1
Rooms
Bedroom: 1
Utilities
Cable - Available: 1
Electricity - Connected: 1
Garbage: 1
Internet - Broadband Available: 1
Internet - Fiber Optic: 1
Public Sewer - Connected: 1
Public Water - Connected: 1
Bedroom
Second: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Electric: 1
Heating
Central: 1
Electric: 1
Security Features
Fire Alarm: 1
Property Features
Appliances: Dishwasher; Disposal; Ice Maker; Microwave; Oven - Electric; Range - Electric
Bedroom: Second
Cooling: Ceiling Fan(s); Central Air; Electric
Heating: Central; Electric
Furnished: Unfurnished
Lot Features: Corner Lot; Landscaped
Lot Access: City Street; Paved Road
Security Features: Fire Alarm
Parking Features: Driveway; Garage Attached; Garage Door Opener
Rooms: Bedroom
Utilities: Cable - Available; Electricity - Connected; Garbage; Internet - Broadband Available; Internet - Fiber Optic; Public Sewer - Connected; Public Water - Connected
Room Information
| Room Name | Level | Dimensions | Length | Width |
| Bedroom | Second | 10 x 13 | 10.00 | 13.00 |
| Bedroom | Second | 10 x 13 | 10.00 | 13.00 |
| Bedroom | Second | 10 x 13 | 10.00 | 13.00 |
| Bedroom | Second | 10 x 13 | 10.00 | 13.00 |
| Bedroom | Second | 13 x 14 | 13.00 | 14.00 |
| Bedroom | Second | 13 x 14 | 13.00 | 14.00 |
| Bedroom | Second | 13 x 14 | 13.00 | 14.00 |
| Bedroom | Second | 13 x 14 | 13.00 | 14.00 |
Listing Office: JC Real Estate Group, LLC.
Last Updated: May - 01 - 2026
Information deemed reliable but not guaranteed.