240 Harmon Avenue, Panama City, FL 32401
- $6,197,500
- List Price
- $6,197,500
- MLS#
- 782380
- Status
- ACTIVE
- Type
- Multifamily
- Subtype
- Multi Family
- Lot Size
- 45,738
- Neighborhood
- Bay - Central SW
Property Description
UNDER CONTRACT. SELLER WILL CONSIDER BACK UP OFFERS. This exceptional 34-unit waterfront community, complete with a 22-slip marina, is now offered at a newly adjusted price, creating an even stronger value proposition for investors. In addition to its comprehensive renovations and prime waterfront amenities, the property includes an income-generating on-site laundry facility and a low-maintenance marina that produces steady net revenue, further strengthening the asset's operational performance. With 22 units fully renovated down to the studs in 2020, upgraded mechanicals, new roofs, contemporary interiors, and a history of consistently high occupancy, this community offers both stability and long-term growth potential. Positioned within the heart of Downtown Panama City's ongoing revitalization--featuring upgraded streetscapes, improved walkability, and renewed waterfront development--this asset remains one of the most compelling opportunities in the market. The pricing adjustment simply aligns the offering with current investor activity and enhances the property's already strong return profile.
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Additional Information
- Acres
- 1.05
- Elementary School
- Cherry Street
- High School
- Bay
- Middle School
- Jinks
- Neighborhood
- Bay - Central SW
- Subdivision
- [No Recorded Subdiv]
- Waterfront
- Yes
- Waterview
- Bayou
- Year Built
- 1966
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Listing courtesy of Luxe Coastal Realty Group LLC.