Live the Gulf Life on Florida’s Emerald Coast

116 Springfield Avenue

Panama City, FL 32401

MLS#: 790574

$608,000

Status: Active
Listing number: 790574
Listing provided by: Beachy Beach Real Estate
Listing agent phone: None
Last update: 30 minutes ago
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No Named Subdivision - Residential

Property

Beds

6

Full Baths

6

1/2 Baths

None

Year Built

1952

Sq.Footage

2,907

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

Features & Amenities

Interior

  • Total Bedrooms

    6

  • Bathrooms

    6

  • Cooling YN

    YES

  • Cooling

    Window Unit(s)

  • Pet friendly

    N/A

Exterior

  • Garage

    No

  • Construction Materials

    Block

  • Patio and Porch Features

    Covered, Porch

  • Pool

    Yes

  • Pool Features

    Other, See Remarks

  • Waterfront YN

    NO

Area & Lot

  • Lot Size(acres)

    0.31

  • Lot Size(square feet)

    13504.0

  • Property Type

    Residential

  • Property Sub Type

    MultiFamily

Price

  • Sales Price

    $608,000

  • Tax Amount

    $8,434

  • Zoning

    Resid Multi-Family

  • Sq. Footage

    2, 907

  • Price/SqFt

    $209

HOA

  • Association

    No

School District

  • Elementary School

    Cherry Street

  • Middle School

    Rutherford Middle

  • High School

    Rutherford

Property Features

  • New Construction

    NO

  • Foundation Details

    Slab

  • Sewer

    Public Sewer

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Location

County

Bay

Elementary School

Cherry Street

Middle School

Rutherford Middle

High School

Rutherford

Listing Courtesy of Heather Fox , Beachy Beach Real Estate

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Agent Dee Anderson

REALTOR®

Dee Anderson

Call Dee today to schedule a private showing.

(256) 613-6570

deeandersonrealtor@gmail.com


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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

116 Springfield Avenue

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