116 Springfield Avenue, Panama City, FL 32401 (MLS# 790574)

List Price/SqFt: 209.15

Status: Active

List Date: 2026-05-30

List Price: $608,000

Current Price: $608,000

Sub Area: 0202 - Bay - Central SE

Community/Resort: None

Waterfront: No

Elementary School: Cherry Street

Middle School: Rutherford Middle

High School: Rutherford

Directions: From Bay Medical Center, head south on North Bonita Ave. Turn left on Bus-US 98. Take a right onto Everitt Ave., left on E First Court. Proceed to Second Street and take a left onto Springfield Ave. The property will be on the corner lot on the right.

Area: 02 - Bay County - Central

Street #: 116

Street Name: Springfield

Street Suffix: Avenue

State: FL

Zip Code: 32401

County: Bay

Subdivision: No Named Subdivision

Parcel ID: 24226-000-000

Legal Description: N MOORETOWN (1.15) LOTS 1,2 BLK 9 ORB 4686 P 914

Acreage: 0.31

Design: N/A

Lot Size (SqFt): 13504

Apx SqFt(Htd/Cooled): 2907

Construction Status: Construction Complete

SqFt Source: Prop App Site

Lot Dimensions: 154 X100X154X101

New Construction: No

Garage Y/N: No

Pool: No

Sub-Type: Multi Family

Bedrooms: 6

Full Baths: 6

Total Baths: 6

Year Built: 1952

Homestead: No

HOA Fee: No

Is Subject Leased: Yes

New Buyer Fee: No

Last Taxes: 8434

Last Tax Year: 2025

Brokerage Interest: No Interest

Remarks: Welcome to a turnkey income-producing investment opportunity designed for ease, efficiency, and long-term value. Remodeled in 2021, this unique property features six detached single-family units, each offering one bedroom, one spacious bathroom, a comfortable living area, with a functional kitchen. Fully occupied and currently generating $63,900 in annual gross rental income, this property offers immediate cash flow with rent rolls available for review. Each unit was thoughtfully updated in 2021 with major improvements including 30-year dimensional shingle roofs, energy-efficient windows, updated electrical wiring, fresh sheetrock, interior paint, luxury vinyl plank flooring, new kitchen cabinetry, and updated countertops. For streamlined management, each unit is individually metered for both water and electricity, helping simplify operations and reduce owner responsibility. With six separate dwellings, modernized systems, and established rental income already in place, this property is a strong addition to any investment portfolio. Whether you are looking to expand your rental holdings, secure consistent income, or invest in a low-maintenance multi-unit property, this turnkey opportunity is ready to perform from day one. Buyer to confirm measurements. Some photos edited and staged

First: 1

First: 1

Cooktop - Electric: 1

Oven - Electric: 1

Refrigerator: 1

Floor - Vinyl Plank: 1

Block: 1

Foundation - Slab on Grade: 1

Roof - Dimensional Shg: 1

7 - 12 Months: 1

1 or More Years: 1

Porch Covered: 1

Cash: 1

Conventional: 1

FHA: 1

Unfurnished: 1

Corner Lot: 1

City Street: 1

Driveway: 1

MBath Shower/Tub Combo: 1

Resid Multi-Family: 1

Other - See Remarks: 1

Bedroom: 1

Great Room: 1

Master Bathroom: 1

Master Bedroom: 1

Electricity - Connected: 1

Public Sewer - Connected: 1

Public Water - Connected: 1

First: 1

First: 1

Window Unit(s): 1