$1,380,600
Panama City, FL 32405
MLS# 756905
Status: Sold
15 beds | 13 baths | 7120 sqft
1 / 34
Property Description
Don't miss out on this exceptional investment opportunity to own a portfolio of five duplexes and a triplex, totaling 13 individual units. Nestled on almost an acre of land, these single-story properties enjoy a coveted location near Tyndall Air Force Base and downtown Panama City. Each unit provides convenience with two designated parking spaces and central HVAC system. Inside, tenants will appreciate the sleek, practical design featuring luxury vinyl plank flooring and up-to-date appliances, ensuring a comfortable and budget-friendly living experience. The duplexes feature one-bedroom, one-bathroom layouts, while the spacious green duplex offers two-bedroom units, ideal for families or those desiring extra space. Meanwhile, the triplex features three one-bedroom, one-bathroom units. This property is managed by a rental management company. Providing affordable housing options within a vibrant community, this investment opportunity promises a stable income and long-term potential for investors. All units are currently under annual leases.
Details
Maps
Listing Info, Tax and Legal
Homestead: No
HOA Fee: No
Is Subject Leased: Yes
New Buyer Fee: No
Last Taxes: 11557
Last Tax Year: 2023
Brokerage Interest: No Interest
Contract Info
List Price/SqFt: 210.67
Status: Sold
List Date: 2024-05-10
List Price: $1,500,000
Current Price: $1,380,600
Location
Sub Area: 0201 - Bay - Central NE
Community/Resort: None
Waterfront: No
Elementary School: Cedar Grove
Middle School: Mowat
High School: Bay
Directions: From Hwy 98 and Sherman, head North on Sherman, turn left at 17th Street. (5) Duplexes and (1) Triplex on the left just behind the commercial lot on the corner of Sherman & 17th Street.
Area: 02 - Bay County - Central
Street #: 2228
Street Direction: E
Street Name: 17th
Street Suffix: Street
State: FL
Zip Code: 32405
County: Bay
Subdivision: No Named Subdivision
Parcel ID: 14740-040-000, 020-010, 020-000, 022-000, 021-000
Legal Description: Multi parcel / Parcel ID's: 14740-040-000, 14740-020-010, 14740-020-000, 14740-022-000, 14740-021-000.
General Property Info
Floor Number: 1
Acreage: 0.96
Design: N/A
Lot Size (SqFt): 41818
Apx SqFt(Htd/Cooled): 7120
Construction Status: Construction Complete
SqFt Source: Owner Measured
Lot Dimensions: 300x140
Garage Y/N: No
Sub-Type: Multi Family
Bedrooms: 15
Full Baths: 13
Total Baths: 13
Year Built: 2020
Remarks & Misc
Remarks: Don't miss out on this exceptional investment opportunity to own a portfolio of five duplexes and a triplex, totaling 13 individual units. Nestled on almost an acre of land, these single-story properties enjoy a coveted location near Tyndall Air Force Base and downtown Panama City. Each unit provides convenience with two designated parking spaces and central HVAC system. Inside, tenants will appreciate the sleek, practical design featuring luxury vinyl plank flooring and up-to-date appliances, ensuring a comfortable and budget-friendly living experience. The duplexes feature one-bedroom, one-bathroom layouts, while the spacious green duplex offers two-bedroom units, ideal for families or those desiring extra space. Meanwhile, the triplex features three one-bedroom, one-bathroom units. This property is managed by a rental management company. Providing affordable housing options within a vibrant community, this investment opportunity promises a stable income and long-term potential for investors. All units are currently under annual leases.
Status Change Info
Sold Price/SqFt: 193.9
Sold Price/Acre: 1438125
Under Contract Date: 2024-11-07
Sold Date: 2024-12-31
Sold Price: $1,380,600
Appliances
Cooktop - Electric: 1
Oven - Electric: 1
Refrigerator: 1
Water Heater - Electric: 1
Construction/Siding
Frame: 1
Roof - Composite Shngl: 1
Siding - Hardie Board: 1
Existing Leases
Other - See Remarks: 1
Financing
Cash: 1
Conventional: 1
Furnished
Unfurnished: 1
Kitchen
First: 1
Living Room
First: 1
Parking Features
Driveway: 1
Present Zoning
Resid Multi-Family: 1
Rooms
Bedroom: 1
Full Bathroom: 1
Kitchen: 1
Living Room: 1
Utilities
Public Sewer - Connected: 1
Water Connected: 1
Full Bathroom
First: 1
Bedroom
First: 1
Cooling
Central Air: 1
Electric: 1
Property Features
Appliances: Cooktop - Electric; Oven - Electric; Refrigerator; Water Heater - Electric
Full Bathroom: First
Bedroom: First
Cooling: Central Air; Electric
Existing Leases: Other - See Remarks
Financing: Cash; Conventional
Furnished: Unfurnished
Kitchen: First
Living Room: First
Parking Features: Driveway
Rooms: Bedroom; Full Bathroom; Kitchen; Living Room
Utilities: Public Sewer - Connected; Water Connected
Present Zoning: Resid Multi-Family
Room Information
| Room Name | Level | Dimensions | Length | Width | Dimensions | Remarks |
| Bedroom | First | 13.3 x 10.4 | 13.30 | 10.40 | 13.3 x 10.4 | (2-bed units) |
| Bedroom | First | 11.8 x 12 | 11.80 | 12.00 | 11.8 x 12 | (2-bed units) |
| Bedroom | First | 13.3 x 10.4 | 13.30 | 10.40 | 13.3 x 10.4 | (2-bed units) |
| Bedroom | First | 11.8 x 12 | 11.80 | 12.00 | 11.8 x 12 | (2-bed units) |
| Bedroom | First | 8.5 x 18.8 | 8.50 | 18.80 | 8.5 x 18.8 | (1-bed units) |
| Bedroom | First | 8.5 x 18.8 | 8.50 | 18.80 | 8.5 x 18.8 | (1-bed units) |
| Kitchen | First | 12 x 17 | 12.00 | 17.00 | 12 x 17 | Kitchen / living (2-bed units) |
| Kitchen | First | 12 x 17 | 12.00 | 17.00 | 12 x 17 | (2-bed units) |
| Living Room | First | 9.8 x 19 | 9.80 | 19.00 | 9.8 x 19 | living/kitchen(1-bed units) |
| Living Room | First | 9.8 x 19 | 9.80 | 19.00 | 9.8 x 19 | (1-bed units) |
| Living Room | First | 9.8 x 19 | 9.80 | 19.00 | 9.8 x 19 | (1-bed units) |
| Full Bathroom | First | 5 x 7.5 | 5.00 | 7.50 | 5 x 7.5 | (2-bed units) |
| Full Bathroom | First | 5 x 7.5 | 5.00 | 7.50 | 5 x 7.5 | (2-bed units) |
| Full Bathroom | First | 9.7 x 8 | 9.70 | 8.00 | 9.7 x 8 | (1-bed units) |
| Full Bathroom | First | 9.7 x 5 | 9.70 | 5.00 | 9.7 x 5 | (1-bed units) |
Listing Office: Scenic Sotheby's International Realty
Last Updated: June - 27 - 2025
Information deemed reliable but not guaranteed.