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MLS# 785031

Status: Active
2605 Redwood Street
Panama City Beach, FL 32408
$900000.00

Beds Total: 10
Bathrooms: 8.00
Baths Full: 4
Baths Half: 4
Sq Ft Total: 4432.00
Acres: 0.19
Year Built: 1978
On Waterfront: No
(850) 319-4106


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Start 2026 with a strong, stabilized income property at 2605 Redwood Street, a well-maintained duplex consisting of two separate buildings, each featuring two apartments for a total of four units. This turnkey asset is fully leased and positioned to deliver immediate and reliable cash flow.The property offers a desirable unit mix of spacious 3-bedroom and 2-bedroom apartments, each with 11/2 bathrooms. All apartments have been renovated with new kitchen, new flooring throughout, and Energy saving appliances. appealing to long-term tenants and supporting consistent occupancy. All apartments have been recently renovated. Recent capital improvements significantly enhance the property's value and reduce near-term maintenance, including brand-new flooring throughout, A/C unit is less than 4 years old, the roof was replaced in 2019, part of the siding on each building has been replaced, a newly installed septic tank.With all apartments currently rented, the property generates an estimated Net Operating Income of $70,000 annually, offering investors an attractive 7% cap rate. The combination of strong in-place income, recent upgrades, and minimal deferred maintenance makes this an ideal acquisition for investors seeking stable returns with limited operational risk.Whether you're expanding an existing portfolio or entering the multifamily market, 2605 Redwood Street represents a compelling opportunity to secure a high-performing asset in the new year.No signs on the property, please do not disturb tenants.

Additional Features

List Date:2026-02-09
Full Baths:4
Half Baths:4
Waterfront:No
Sub Area:0319 - Beach - East
Community/Resort:None
Parcel ID:31054-000-000
Elementary School:Patronis
Middle School:Surfside
High School:Arnold
Appliances:Dishwasher,Disposal,ENERGY STAR Qualified Appliances,Microwave,Oven - Electric,Refrigerator
HOA Fee:No
Cumulative DOM:24
Days On Market:25
Last Taxes:4271.00
Last Tax Year:2025
Utilities:Cable - Available,Electricity - Connected,Public Sewer - Connected,Septic Tank
Present Zoning:City
Exterior:Fenced - Back Yard,Patio - Open
Lot Features:Near Beach Access,Near Interstate Exit,Near Public Boat Ramp
Construction/Siding:Block,Concrete,Roof - Composite Shngl,Siding - Vinyl