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… Read More 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. 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. Read Less
Courtesy of Luxe Coastal Realty Group LLC 848-220-5555
Listing Snapshot
Days Online
145
Last Updated
Property Type
Multi Family
Square Ft.
33,060
Lot Size
2.8 Acres
Year Built
1970
MLS Number
R11145658
Additional Details
Building
Built in 1970, Building features: "Free Standing", Toal building area: 33060, 50 total units
Cooling
"Wall/Window Unit(s)"
Heating
"Electric"
Lot
2.8 acres
Property
Zoning: Multi Family
Roof
"Metal"
Security Features
"Fire Sprinkler System"
Sewer
"Public Sewer"
Taxes
Annual amount: $18,237
Tenant Pays
"Cable TV", "Electricity", "Janitorial Service"
Utilities
"Three Phase", "Cable Available"
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