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MLS# 782381
Status: Active
3510/ 3536 Saint John Street
Panama City, FL 32401
$6243750.00
Panama City, FL 32401
County: Bay
Year Built: 1970
Area: 02 - Bay County - Central
SqFt Tot Bldg: 33060.00
Acreage: 2.80
Subdivision: [No Recorded Subdiv]
Waterfront: No
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(848) 220-5555 |
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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 |