BEDS6
BATHS6 full
SQUARE FEET2,907
MLS#790574
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
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
Property Features
Property Type: Multi Unit - Multiple
Cooling: Window Unit(s)
Lot Size: 0.31 Acres
Roof Type: Shingle
Taxes: $8,434
Year Built: 1952
Feature Descriptions
Appliances: Electric Cooktop, Electric Oven
Community Features: Short Term Rental Allowed
Days on Site: 2
Exterior: Block
Lot Dimensions: 154 X100X154X101
Parcel#: 24226-000-000
Patio/Porch: Covered, Porch
Pool: Other, See Remarks
Sewer: Public Sewer
Room Sizes
Primary Bathroom: 13 X 8 Level - First
Great Room: 20 X 13 Level - First
Primary Bedroom: 13 X 8 Level - First
Primary Bedroom: 13 X 8 Level - First
Bedroom: 13 X 8 Level - First
Primary Bedroom: 13 X 9 Level - First
Local Schools
High School: Rutherford
Middle School: Rutherford Middle
Elementary School: Cherry Street
Listed By / Shown By
Listed By
Agency Name: Beachy Beach Real Estate
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0400
Estimate Your Payment
Estimated Payment
$ 2,233.31 per month $1,353.14 Principal & Interest $702.83 Property Tax $177.33 Homeowner's InsuranceChange Payment Information
116 Springfield Avenue | MLS# 790574
This multi-family property located at 116 Springfield Avenue, Panama City, FL 32401 is currently listed for sale with an asking price of $608,000. Search Panama City real estate on www.realtymark.net today.