$499,500
Panama City, FL 32401
MLS# 775716
4768 sqft
1 / 6
Property Description
Looking to expand your real estate portfolio or jumpstart your journey as a landlord? This 5-unit multi-family property in Panama City offers steady cash flow and long-term value. partially rented / ready to lease (customize based on status) Low maintenance units - easy management Strong rental demand in the area Proximity to beaches, schools, and major employers Zoned for residential income-producing property Building 1 Type SFR AVERG Total Area 2,129 Heated Area 1,251 Exterior Walls AL SIDING Roof Cover ENG SHINGL Interior Walls DRYWALL Frame Type N/A Floor Cover CLAY TILE; CARPET Heat AIR DUCTED Air Conditioning CENTRAL Bathrooms 1 Bedrooms 3 Stories 1 Actual Year Built 1946 Building 2 Type DUPLEX Total Area 1,643 Heated Area 1,346 Exterior Walls MINIMUM Roof Cover ENG SHINGL Interior Walls DRYWALL Frame Type N/A Floor Cover PINE WOOD Heat RAD ELEC Air Conditioning WINDOW Bathrooms 2 Bedrooms 4 Stories 2 Actual Year Built 1956 Building 3 Type DUPLEX Total Area 2,315 Heated Area 2,171 Exterior Walls ASB SHNGLE Roof Cover ENG SHINGL Interior Walls DRYWALL Frame Type N/A Floor Cover ASPH TILE Heat AIR DUCTED Air Conditioning CENTRAL Bathrooms 2 Bedrooms 3 Stories 1 Actual Year Built 1952
Details
Maps
Contract Info
List Date: 2025-07-01
List Price: $499,500
List Price/SqFt: 104.76
Current Price: $499,500
Sub-Type: Multi-Family
Location
Area: 02 - Bay County - Central
Street #: 520
Street Name: Maine
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: 22686-000-000
Elementary School: Cherry Street
Middle School: Jinks
High School: Bay
Directions: From Sherman ave, head south toward Bus (98 Hwy ) turn left on 6th st, proceed to Maine Ave, property will be on corner.
Legal Description: PINECREST ADD LOTS 1,2 & W 35' LOTS 23,24 DB 173 P 319 BLK 0 ORB 4000 P 1760
General Property Info
List Class: Residential Income
Construction Status: Construction Complete
# of Units: 5
Acreage: 0.32
Frontage Ft: 71
Lot Depth: 95
SqFt Tot Bldg: 4768
Year Built: 1946
Status Change Info
Status: Active
Multi-Family
# of Units: 5
Actual Gross Income: 51000
Cap Rate: 12.5
Property Features
Energy: AC - Central Elect
Financing: Cash; Conventional
Other Structures: Arena - Covered
Pricing Type: Sale Price
Present Zoning: Commercial; Resid Multi-Family
Sale Type: As Is
Site Description: Corner Location
Utilities: Electricity - Connected; Public Sewer - Connected; Water Connected
Listing Office: Keller Williams Success Realty
Last Updated: July - 02 - 2025
Information deemed reliable but not guaranteed.