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

  119 College Avenue Panama City, FL 32401

Active (23 Days)
$779,000
15
BED
9
BATH
5,222
SQFT

Description

Welcome to 119 College Ave., a property that presents an incredible investment opportunity with stable income generation from 6 rental units in a well-maintained and newly remodeled setting. All 6 units generate approximately $85,800 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 newer 30-year dimensional shingle roofs that were installed in 2019. The primary rental house, consisting of 3 rental units (8 bedrooms and 5 bathrooms), has undergone a comprehensive remodel and was taken down to the studs and built back up with the finest attention to detail. It boasts a large front porch, three new HVAC units, and new kitchens equipped with brand-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, perfect for comfortable living and entertaining. Unit 2 is rented currently for $1450 per month. Head upstairs and you will find another spacious 3-bedroom, 2-bathroom unit (Unit 1, $1325/month). This unit includes a separate entrance for the master bedroom and ensuite bath, an oversized laundry room, new LVP flooring, new kitchen and bathrooms, and two living areas. The primary house also has an attached apartment towards the back consisting of another rental unit with 2 bedrooms and 1 bathroom (Unit 3, $1000/month). Additionally, 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 ($1300/month). The two detached properties towards the west of this multi-family estate are both 2-bedroom and 1-bath rental units (Unit 5, $1100/month and Unit 6, $975/month). Unit 6 has also been extensively remodeled.This is your opportunity to expand your rental portfolio and add 6 income producing units for 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. Make sure you check out the unit floor plans in the 'Documents' tab and under photos and schedule your private viewing today!

MLS #:
758986
Taxes
$2,910(2023)
Lot Size
0.41 acres
Type
Multifamily
Year Built
1925
County
Bay County
Community
[No Recorded Subdiv]

Listed By

Kaci Hawes, ERA Neubauer Real Estate, Inc.
Heather Neubauer, ERA Neubauer Real Estate, Inc.
Source
CENTRAL PANHANDLE
Last checked Jul 14 2024 at 10:19 PM GMT+0000
Bathroom Details
  • Full Bathrooms: 9
Interior Features
  • High Ceilings
  • Vaulted Ceiling(s)
  • Dishwasher
  • Disposal
  • Electric Cooktop
  • Electric Oven
  • Electric Water Heater
  • Microwave
  • Refrigerator
Subdivision
  • [no Recorded Subdiv]
Lot Information
  • Corner Lot
Heating and Cooling
  • Electric
  • Multi Units
  • Central Air
Exterior Features
  • Roof: Shingle
Utility Information
  • Utilities: Electricity Connected, Sewer Available, Sewer Connected, Water Connected
School Information
  • Elementary School: Cherry Street
  • Middle School: Jinks
  • High School: Bay
Living Area
  • 5,222 sqft
Additional Listing Info
  • Buyer Brokerage Commission: 3.00
Location
   
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Disclaimer: Copyright 2024 Central Panhandle MLS. All rights reserved. This information is deemed reliable, but not guaranteed. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 7/14/24 15:19