$608,000
Panama City, FL 32401
MLS# 790575
2907 sqft
1 / 72
Property Description
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
Details
Maps
Contract Info
List Price/SqFt: 209.15
List Date: 2026-05-30
List Price: $608,000
Current Price: $608,000
Sub-Type: Multi-Family
Location
Sub Area: 0202 - Bay - Central SE
Community/Resort: None
Waterfront: No
Elementary School: Cherry Street
Middle School: Everitt
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
General Property Info
List Class: Residential Income
Site Dimensions: 154x100x154x101
Acreage: 0.31
Construction Status: Construction Complete
# of Units: 6
SqFt Tot Bldg: 2907
Year Built: 1952
Listing Info, Tax and Legal
HOA Fee: No
Remarks & Misc
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
Construction/Siding
Block: 1
Foundation - Slab on Grade: 1
Roof - Composite Shngl: 1
Trim - Vinyl: 1
Energy
AC - Window/Wall: 1
Financing
Cash: 1
Conventional: 1
Present Zoning
Resid Multi-Family: 1
Utilities
Electricity - Connected: 1
Business/Property
Furnished - None: 1
Floors in Unit/Home
One: 1
Heating/Cooling
AC - Window Unit(s): 1
Multi-Family
# of Units: 6
Actual Gross Income: 63900
Status Change Info
Status: Active
Property Features
Energy: AC - Window/Wall
Financing: Cash; Conventional
Present Zoning: Resid Multi-Family
Utilities: Electricity - Connected
Listing Office: Beachy Beach Real Estate
Last Updated: May - 30 - 2026
Information deemed reliable but not guaranteed.