116 Springfield Avenue, Panama City, FL 32401
- $608,000
- 6
- BD
- 6
- BA
- List Price
- $608,000
- MLS#
- 790574
- Status
- ACTIVE
- Type
- Multifamily
- Subtype
- Multi Family
- Bedrooms
- 6
- Bathrooms
- 6
- Lot Size
- 13,504
- Neighborhood
- Bay - Central SE
Property Description
Welcome to a turnkey income-producing investment opportunity designed for ease, efficiency, and long-term value. Remodeled in 2021, this unique property features six detached single-family units, each offering one bedroom, one spacious bathroom, a comfortable living area, with a functional kitchen. Fully occupied and currently generating $63,900 in annual gross rental income, this property offers immediate cash flow with rent rolls available for review. Each unit was thoughtfully updated in 2021 with major improvements including 30-year dimensional shingle roofs, energy-efficient windows, updated electrical wiring, fresh sheetrock, interior paint, luxury vinyl plank flooring, new kitchen cabinetry, and updated countertops. For streamlined management, each unit is individually metered for both water and electricity, helping simplify operations and reduce owner responsibility. With six separate dwellings, modernized systems, and established rental income already in place, this property is a strong addition to any investment portfolio. Whether you are looking to expand your rental holdings, secure consistent income, or invest in a low-maintenance multi-unit property, this turnkey opportunity is ready to perform from day one. Buyer to confirm measurements. Some photos edited and staged
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Additional Information
- Acres
- 0.31
- Appliances
- Electric Cooktop, Electric Oven
- Elementary School
- Cherry Street
- High School
- Rutherford
- Interior Features
- Main Level Primary, Tub Shower
- Lot Dimensions
- 154 X100X154X101
- Middle School
- Rutherford Middle
- Neighborhood
- Bay - Central SE
- Project Facilities
- Short Term Rental Allowed
- Subdivision
- No Named Subdivision
- Year Built
- 1952
- Zoning
- Resid Multi-Family
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Listing courtesy of Beachy Beach Real Estate.