119 College Avenue Panama City, FL 32401
Listing Courtesy of: CENTRAL PANHANDLE / ERA Neubauer Real Estate, Inc. / Kaci Hawes

  119 College Avenue Panama City, FL 32401

Active (31 Days)


Incredible investment opportunity to own 6 rental units over 4 newly remodeled buildings generating over $78,000 in gross annual income! This property is nestled on a large corner lot (.4 acres) and does not require flood insurance as it is in ''X'' flood zone. All buildings have new 30-year dimensional shingle roofs that were installed in 2019.The primary rental house, consisting of 3 rental units, has been fully remodeled down to the studs and consists of a total of 8 bedrooms and 5 new bathrooms. It has a large front porch, three new HVAC units, with all new kitchens with new appliances. On the lower level of the property, you will find a 3-bedroom, 2-bathroom split floor plan unit (Unit 2) with new luxury vinyl plank (LVP) flooring throughout and a large living room. This unit alone brings in $1450 per month in rental income. Head upstairs and you will find another spacious 3-bedroom, 2-bathroom unit (Unit 1) with a separate entrance for the master bedroom and ensuite bath. This unit has an oversized laundry room, new LVP flooring, new kitchen and bathrooms, and two living areas. The primary house also has an attached apartment (Unit 3) towards the back consisting of another rental unit with 2 bedrooms and 1 bathroom.The building to the south of the primary house (Unit 7) is another rental unit consisting of 3 bedrooms, 2 bathrooms, and a utility/storage area. The two buildings towards the west and back of this multi-family property are both 2 bedroom and 1 bath rental units (Units 5 & 6). Make sure you check out the rental unit floor plans in the ''Documents'' tab and under photos.This is your opportunity to add 6 income producing rentals to your portfolio with a total of 15 bedrooms and 9 bathrooms. This property has a great return on investment and all rental units are professionally managed by ERA Property Management. Schedule your private viewing today!

MLS #:
Lot Size
0.41 acres
Year Built
Bay County
[No Recorded Subdiv]
Bathroom Details
  • Full Bathrooms: 9
Interior Features
  • Refrigerator
  • Microwave
  • Electric Water Heater
  • Electric Oven
  • Electric Cooktop
  • Disposal
  • Dishwasher
  • Laundry: Dryer Hookup
  • Laundry: Washer Hookup
  • Remodeled
  • New Paint
  • [no Recorded Subdiv]
Lot Information
  • Corner Lot
Heating and Cooling
  • Electric
  • Central
  • Central Air
  • Multi Units
  • Vinyl
  • Plank
Exterior Features
  • Roof: Shingle
Utility Information
  • Utilities: Water Source: Public, Electricity Available, Water Available, Sewer Available
  • Sewer: Public Sewer
School Information
  • Elementary School: Cherry Street
  • Middle School: Jinks
  • High School: Bay
Living Area
  • 5,222 sqft
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Disclaimer: Square footage is based on information available to agent, including County records. Information has not been verified by agent and should be verified by buyer.