Back to Results

MLS# 782381

Status: Active
3510/ 3536 Saint John Street
Panama City, FL 32401
$6243750.00

County: Bay
Year Built: 1970
Area: 02 - Bay County - Central
SqFt Tot Bldg: 33060.00
Acreage: 2.80
Subdivision: [No Recorded Subdiv]
Waterfront: No
(848) 220-5555


Use this form to contact the listing agent.

Name
Email
Phone
Comments
Photos
Map
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. 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.
Parcel ID:23388-000-000 & 23389-000-000
Community/Resort:None
Sub Area:0202 - Bay - Central SE
Cumulative DOM:91
Days On Market:91
Active Development Order:No