$6,243,750
Panama City, FL 32401
MLS# 990826
1 / 39
Property Description
This 50-unit garden-style community delivers strong fundamentals and consistent performance, supported by a diverse unit mix of 8 one-bed, 20 two-bed, 12 three-bed, and 10 four-bed units. With 42 units renovated since 2020—featuring updated flooring, fresh paint, windows, and fixtures—the property offers modern appeal and reduced turnover risk. Additional income is generated through an on-site laundry facility, and a separate office building with storage provides valuable operational flexibility. Major capital improvements include new metal roofs, upgraded electrical panels, and multiple HVAC and water-heater replacements, minimizing near-term CapEx exposure.
Details
Contract Info
GCCMLS Number: 43959499
Listing Board: Emerald Coast
List Date: 2025-12-05
List Price: $6,243,750
Location, Tax and Legal
Sub Area: 2715 - Bay East - Bayou George
Legal Description: 11 4S 14W -366.4- 118C4 BEG 787' N & 500' W OF SE COR OF SW1/4 OF SE1/4 TH W 285' S 256' E 285' N 256' TO POB ORB 4161 P 1823 & 11 4S 14W -366.5- 118C4 BEG 600' N OF SE COR OF SW1/4 OF SE1/4 W 300' N 187' E 300' S 187' TO POB TOGETHER WITH ESMT ORB 4161 P 1823
Listing Info, Tax & Legal
As Is: Yes
Remarks & Misc
Remarks: This 50-unit garden-style community delivers strong fundamentals and consistent performance, supported by a diverse unit mix of 8 one-bed, 20 two-bed, 12 three-bed, and 10 four-bed units. With 42 units renovated since 2020—featuring updated flooring, fresh paint, windows, and fixtures—the property offers modern appeal and reduced turnover risk. Additional income is generated through an on-site laundry facility, and a separate office building with storage provides valuable operational flexibility. Major capital improvements include new metal roofs, upgraded electrical panels, and multiple HVAC and water-heater replacements, minimizing near-term CapEx exposure.
Class
Multi-Family: 1
Multi-Family
# of Units: 50
None
Current Price: $6,243,750
Status Change Info
Status: Active
Location Tax and Legal
Area: 27 - Bay County
Street #: 3510/ 3536
Street Name: Saint John
Street Suffix: Street
State: FL
Zip Code: 32401
County: Bay
Parcel ID: 23388-000-000 & 23389-000-000
General Property Info
Acreage: 1.51
Property Features
Class: Multi-Family
Supplements
Steady occupancy and an assumable $4.57M, 3.75% fixed-rate non-recourse loan enhance the investment's strength in today's lending environment. Positioned near major retailers, schools, employment centers, and within minutes of Panama City Beach, the property sits in a high-demand rental corridor with long-term growth potential. A recent price adjustment further improves the opportunity for investors seeking stability and upside.
Listing Office: Luxe Coastal Realty
Last Updated: December - 05 - 2025
All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.
