$6,225,000
Panama City, FL 32401
MLS# 990826
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Property Description
MAJOR PRICE IMPROVEMENT - This stabilized 50-unit garden-style apartment community presents an exceptional opportunity to acquire a well-maintained, income-producing asset with significant recent capital improvements and long-term upside. The property features a highly desirable unit mix of 8 one-bedroom, 20 two-bedroom, 12 three-bedroom, and 10 four-bedroom apartments, with 42 units renovated since 2020, showcasing updated flooring, fresh paint, windows, and modern fixtures. Ownership has invested heavily in the property's infrastructure, including new metal roofs, upgraded electrical panels, and numerous HVAC and water heater replacements, minimizing near-term capital expenditures. Additional revenue is generated through an on-site laundry facility, while a separate office building with storage provides efficient on-site management and operational support. The community maintains consistently strong occupancy and is further enhanced by an assumable $4.57 million fixed-rate, 3.75% non-recourse loan (subject to lender approval), providing a significant financing advantage in today's interest rate environment. Ideally located near major employers, schools, shopping, dining, and just minutes from Panama City Beach, the property benefits from strong rental demand in one of Northwest Florida's fastest-growing markets.
Details
Contract Info
GCCMLS Number: 43959499
List Date: 2025-12-05
List Price: $6,225,000
Listing Board: Emerald Coast
Multi-Family
# of Units: 50
None
Current Price: $6,225,000
Status Change Info
Status: Active
Location Tax and Legal
Area: 27 - Bay County
Street #: 3510/ 3536
Street Name: Saint John
Street Suffix: Street
State: FL
Zip Code: 32401
County: Bay
Parcel ID: 23388-000-000 & 23389-000-000
General Property Info
Acreage: 1.51
Property Features
Class: Multi-Family
Supplements
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.
Listing Office: Luxe Coastal Realty
Last Updated: August - 05 - 2026
All information is believed to be accurate but is not guaranteed. Protected by Copyright© 2026 and is owned either by the Emerald Coast Association of REALTORS®, Inc or by the developers of the software, FBS, Inc. All rights reserved.
