BEDS15
BATHS9 full
SQUARE FEET5,222
MLS#789830
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
Property Description
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR RATE BUYDOWN! Welcome to 119 College Avenue, an exceptional income-producing property featuring six rental units in a well-maintained, recently remodeled setting, currently generating over $82,000 in gross annual income. Situated on a spacious 0. 4-acre corner lot in Flood Zone X (no flood insurance required), the property consists of four total buildings. The primary residence featuring three units has been fully renovated down to the studs and rebuilt with quality finishes throughout, offering three separate rental units (Units 1, 2, and 3) totaling 8 bedrooms and 5 bathrooms, along with a welcoming front porch, three new HVAC systems, and updated kitchens with new appliances. Unit 1 is a 3-bedroom, 2-bath upstairs unit rented for $1,290/month, featuring a private entrance to the primary suite, oversized laundry room, new LVP flooring, updated kitchen and baths, and two living areas. Unit 2 is a 3-bedroom, 2-bath downstairs unit rented for $1,450/month, offering a split floor plan, spacious living area, and new LVP flooring throughout. Unit 3 is a 2-bedroom, 1-bath rear apartment rented for $1,000/month. In addition to the main house, the property includes three detached single-family homes: Unit 7, a 3-bedroom, 2-bath unit with a utility/storage area rents for $1,000/month; Unit 5, a 2-bedroom, 1-bath unit rented for $990/month; and Unit 6, a 2-bedroom, 1-bath unit rented for $1,125/month and extensively remodeled. Altogether, the property offers 15 bedrooms and 9 bathrooms across six income-producing units. All rentals are professionally managed by ERA Property Management, making this a seamless, turnkey investment opportunity. Floor plans are available in the Documents section and photo gallery. Schedule your private showing today to explore the full potential of this multi-unit property.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Central Air, Multi Units
Heating: Electric
Lot Size: 0.41 Acres
Roof Type: Shingle
Taxes: $5,039
Year Built: 1936
Amenities
Covered Patio
Feature Descriptions
Appliances: Electric Cooktop, Electric Oven, Electric Water Heater
Community Features: Short Term Rental Allowed
Days on Site: 18
Exterior: Vinyl Siding
Lot: Paved
Lot Dimensions: 179x120x179x120
Parcel#: 22946-000-000
Patio/Porch: Balcony, Deck, Covered, Porch
Sewer: Public Sewer
Utilities: Electricity Available, Sewer Available
Room Sizes
Bedroom: 9.3 X 8 Level - First
Bedroom: 10.4 X 8.5 Level - First
Primary Bedroom: 8.3 X 8.5 Level - First
Bedroom: 12.4 X 9.7 Level - First
Primary Bedroom: 9.11 X 11.1 Level - First
Bedroom: 10.3 X 9.7 Level - First
Primary Bedroom: 9.7 X 11.7 Level - First
Bedroom: 7.8 X 12.4 Level - First
Primary Bedroom: 7.11 X 12.4 Level - First
Bedroom: 8 X 10.8 Level - Second
Bedroom: 12.2 X 18.9 Level - Second
Primary Bedroom: 12.2 X 10.5 Level - Second
Bedroom: 8.5 X 9.1 Level - First
Bedroom: 8.5 X 9.2 Level - First
Primary Bedroom: 15.11 X 15.6 Level - First
Local Schools
High School: Bay
Middle School: Jinks
Elementary School: Cherry Street
Listed By / Shown By
Listed By
Agency Name: ERA Neubauer Real Estate, Inc
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0400
Estimate Your Payment
Estimated Payment
$ 2,242.39 per month $1,611.31 Principal & Interest $419.92 Property Tax $211.17 Homeowner's InsuranceChange Payment Information
119 College Avenue | MLS# 789830
This multi-family property located at 119 College Avenue, Panama City, FL 32401 is currently listed for sale with an asking price of $724,000. Search Panama City real estate on www.realtymark.net today.