3533 US-98, Panama City, FL 32401
- $1,190,000
- List Price
- $1,190,000
- MLS#
- 781440
- Status
- ACTIVE
- Type
- Multifamily
- Subtype
- Multi Family
- Lot Size
- 8,712
- Neighborhood
- Bay - Central SW
Property Description
CURRENTLY UNDER CONTRACT, SELLER WILL CONSIDER BACKUP OFFERS - Completely revitalized and effectively new as of 2021, this 14-unit multifamily property offers an exceptional turnkey investment opportunity. Each studio unit is approximately 280 square feet and has been fully updated as of 2021 with brand-new electrical wiring, sewer and water lines, windows and doors, drywall, trusses, and roof. With full occupancy and consistent rental income, this asset provides stable cash flow and minimal operational headaches. The site includes 15 parking spaces to accommodate tenants and guests comfortably. Investors will appreciate the potential cap rate of approximately 10%, underscoring the property's strong performance and value within the local rental market. Whether held as a steady income producer or added to a growing portfolio, this property stands out as a rare opportunity to acquire a fully renovated multifamily complex offering modern infrastructure and long-term financial strength. Rent roll and financials available upon request.
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Additional Information
- Acres
- 0.20
- Elementary School
- Lucille Moore
- High School
- Bay
- Middle School
- Jinks
- Neighborhood
- Bay - Central SW
- Subdivision
- [No Recorded Subdiv]
- Year Built
- 1970
- Zoning
- Resid Multi-Family
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Listing courtesy of Keller Williams Success Realty.