$922,500
Panama City Beach, FL 32408
MLS# 721364
Status: Sold
8 beds | 4 baths | 3072 sqft
1 / 34
Property Description
Fantastic opportunity for a multifamily investment. 2 buildings with 2 parcel IDs, 2 units in each building. Each unit (total of 4) is a 2BD/1BA. At only 3 blocks from the beach, this is an investors' dream and would make adorable vacation rentals. With some TLC and some perks like a golf cart, each unit is projected to generate $25-35K gross annually. Currently occupied with long term tenants, with a 30 day clause to move out after successful closing. Monthly gross rent income for the 4 units long-term is currently $4525. Add a swimming pool in the back for an unforgettable retreat. All unit metered for separate cable tv, water, electric and security lighting. Each unit has private storage/laundry area. All unit have new appliances.
Details
Maps
Listing Info, Tax and Legal
HOA Fee: No
New Buyer Fee: No
Last Taxes: 1451
Last Tax Year: 2021
Brokerage Interest: No Interest
As Is: Yes
Contract Info
List Price/SqFt: 309.24
Status: Sold
List Date: 2022-01-21
List Price: $950,000
Current Price: $922,500
Location
Unit #: A,B,C&D
Sub Area: 0323 - Beach - South of Grand Lagoon
Community/Resort: None
Waterfront: No
Elementary School: Patronis
Middle School: Surfside
High School: Arnold
Directions: Take Thomas Drive south towards beach, turn right or north on Luff Street, at end of Luff, turn left or west on Pinetree Avenue, property is down on the left or south side of street.
Area: 03 - Bay County - Beach
Street #: 5801&5803
Street Name: Pinetree
State: FL
Zip Code: 32408
County: Bay
Subdivision: Biltmore Beach 1st Add
Parcel ID: 31987-000-000&31986-000-000
Legal Description: BILTMORE BEACH 1ST ADD LOT 11 BLK B ORB 3876 P 1747
General Property Info
Acreage: 0.28
Design: N/A
Lot Size (SqFt): 12000
Apx SqFt(Htd/Cooled): 3072
Construction Status: Construction Complete
SqFt Source: Prop App Site
Lot Dimensions: 100X120
Garage Y/N: No
Sub-Type: Multi Family
Bedrooms: 8
Full Baths: 4
Total Baths: 4
Year Built: 1980
Remarks & Misc
Remarks: Fantastic opportunity for a multifamily investment. 2 buildings with 2 parcel IDs, 2 units in each building. Each unit (total of 4) is a 2BD/1BA. At only 3 blocks from the beach, this is an investors' dream and would make adorable vacation rentals. With some TLC and some perks like a golf cart, each unit is projected to generate $25-35K gross annually. Currently occupied with long term tenants, with a 30 day clause to move out after successful closing. Monthly gross rent income for the 4 units long-term is currently $4525. Add a swimming pool in the back for an unforgettable retreat. All unit metered for separate cable tv, water, electric and security lighting. Each unit has private storage/laundry area. All unit have new appliances.
Status Change Info
Sold Price/SqFt: 300.29
Sold Price/Acre: 3294642.86
Under Contract Date: 2022-02-10
Sold Date: 2022-04-08
Sold Price: $922,500
Appliances
Dishwasher: 1
Microwave: 1
Range - Electric: 1
Refrigerator: 1
Furnished
Unfurnished: 1
Rooms
Bedroom: 1
Full Bathroom: 1
Utilities
All Utilities: 1
Water Connected: 1
Septic Tank: 1
Cooling
Central Air: 1
Heat Pump: 1
Property Features
Appliances: Dishwasher; Microwave; Range - Electric; Refrigerator
Cooling: Central Air; Heat Pump
Furnished: Unfurnished
Rooms: Bedroom; Full Bathroom
Utilities: All Utilities; Septic Tank; Water Connected
Room Information
| Room Name | Dimensions | Length | Width | Dimensions |
| Bedroom | 0 x 0 | 0.00 | 0.00 | 0 x 0 |
| Bedroom | 0 x 0 | 0.00 | 0.00 | 0 x 0 |
| Full Bathroom | 0 x 0 | 0.00 | 0.00 | 0 x 0 |
| Bedroom | 0 x 0 | 0.00 | 0.00 | 0 x 0 |
| Bedroom | 0 x 0 | 0.00 | 0.00 | 0 x 0 |
| Bedroom | 0 x 0 | 0.00 | 0.00 | 0 x 0 |
| Bedroom | 0 x 0 | 0.00 | 0.00 | 0 x 0 |
| Bedroom | 0 x 0 | 0.00 | 0.00 | 0 x 0 |
Listing Office: Sand Seeker Realty LLC
Last Updated: September - 24 - 2024
Information deemed reliable but not guaranteed.