$6,197,500
Panama City, FL 32401
MLS# 782380
29796 sqft
1 / 28
Property Description
This exceptional 34-unit waterfront community, complete with a 22-slip marina, is now offered at a newly adjusted price, creating an even stronger value proposition for investors. In addition to its comprehensive renovations and prime waterfront amenities, the property includes an income-generating on-site laundry facility and a low-maintenance marina that produces steady net revenue, further strengthening the asset's operational performance. With 22 units fully renovated down to the studs in 2020, upgraded mechanicals, new roofs, contemporary interiors, and a history of consistently high occupancy, this community offers both stability and long-term growth potential. Positioned within the heart of Downtown Panama City's ongoing revitalization—featuring upgraded streetscapes, improved walkability, and renewed waterfront development—this asset remains one of the most compelling opportunities in the market. The pricing adjustment simply aligns the offering with current investor activity and enhances the property's already strong return profile.
Details
Maps
Contract Info
List Price/SqFt: 208
List Date: 2025-12-05
List Price: $6,197,500
Current Price: $6,197,500
Sub-Type: Multi-Family
Location
Sub Area: 0203 - Bay - Central SW
Community/Resort: None
Waterfront: Yes
Elementary School: Cherry Street
Middle School: Jinks
High School: Bay
Directions: Take Beach Drive south to E 2nd Court and turn left. Turn left on Harmon Ave and building will be on the right.
Area: 02 - Bay County - Central
Street #: 240
Street Name: Harmon
Street Suffix: Avenue
State: FL
Zip Code: 32401
County: Bay
Subdivision: [No Recorded Subdiv]
Parcel ID: 20213-000-000
Legal Description: DAVIS PLAT LOTS 1,2,3 & PACL LYING BETWEEN LOT 1 & MASSELINA BAYOU. BLK 5 ORB 4148 P 69 AND PART OF VACATED BLUFF ST R/W . ORD# 2688 ORB 4163 P 171
General Property Info
List Class: Apartment
Acreage: 1.05
Construction Status: Construction Complete
# of Units: 34
SqFt Tot Bldg: 29796
Year Built: 1966
Listing Info, Tax and Legal
HOA Fee: No
Remarks & Misc
Remarks: This exceptional 34-unit waterfront community, complete with a 22-slip marina, is now offered at a newly adjusted price, creating an even stronger value proposition for investors. In addition to its comprehensive renovations and prime waterfront amenities, the property includes an income-generating on-site laundry facility and a low-maintenance marina that produces steady net revenue, further strengthening the asset's operational performance.
With 22 units fully renovated down to the studs in 2020, upgraded mechanicals, new roofs, contemporary interiors, and a history of consistently high occupancy, this community offers both stability and long-term growth potential. Positioned within the heart of Downtown Panama City's ongoing revitalization—featuring upgraded streetscapes, improved walkability, and renewed waterfront development—this asset remains one of the most compelling opportunities in the market. The pricing adjustment simply aligns the offering with current investor activity and enhances the property's already strong return profile.
Association Amenities
Marina: 1
Waterview
Bayou: 1
Sale Type
As Is: 1
Waterfront Type
Bayou w/ Gulf Access: 1
Floors in Unit/Home
Two: 1
Multi-Family
# of Units: 34
Status Change Info
Status: Active
Property Features
Sale Type: As Is
Waterfront Type: Bayou w/ Gulf Access
Waterview: Bayou
Listing Office: Luxe Coastal Realty Group LLC
Last Updated: December - 08 - 2025
Information deemed reliable but not guaranteed.