BEDS7
BATHS6 full
SQUARE FEET2,988
MLS#792225
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONCove
Property Description
$7100 per month or $85,200 per year in rental income from the carriage house and quadplex/fourplex. Perfect for a DSCR loan where your rental income pays for your mortgage, plus you get a dock and a place to park your boat on deep water. Waterfront masterpiece with deep water access to the Bay and the Gulf of Mexico. This is the most versatile quadplex/fourplex plus carriage house (comes fully furnished) in Panama City. Here is the rental income breakdown: Carriage house = $1750 per month; Apartment 1 (Civil Contractor) = $1450 per month; Apartment 2 (Realtor) = $1450 per month; Apartment 3 (Property Maintenance Man) = $1,000 per month (reduced because he takes care of the lawn and pool - you could charge $1450); Apartment 4 (Josh) = $1450 per month Total income = $7100 per month. New custom landscaping and beautiful decking, shared dock with fish cleaning station. Location is easy to access to newly renovated downtown entertainment with shopping, dining, concerts and ongoing festivities. Direct views of Massalina Bayou offering serene surroundings and a true coastal lifestyle. Prime location near top shopping, dining, entertainment, and local attractions. This unique combination of parcels provides endless possibilities--multigenerational living, a fully income-producing investment, or use the carriage house a primary residence and rent out the fourplex for excellent rental income. With its unmatched flexibility, new construction quality, and breathtaking bayou views, this property checks all the boxes.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Central Air, Ceiling Fan(s)
Heating: Central, Electric
Lot Size: 0.14 Acres
Roof Type: Metal
Year Built: 2025
Feature Descriptions
Appliances: Gas Range, Tankless Water Heater
Community Features: Short Term Rental Allowed
Days on Site: 11
Exterior: HardiPlank Type
Lot: Sprinkler System, Paved
Lot Dimensions: 60.0 ft x 100.0 ft
Parcel#: 20456-000-000
Patio/Porch: Covered, Porch
Sewer: Public Sewer
Special View Info: Bayou
Utilities: Natural Gas Available
Waterfront: Bayou, Seawall
Room Sizes
Guest Quarters: 20 X 20 Level - First
Guest Quarters: 20 X 20 Level - First
Guest Quarters: 20 X 20 Level - First
Guest Quarters: 20 X 20 Level - First
Kitchen: 8 X 6 Level - First
Living Room: 12 X 10 Level - First
Bedroom: 10 X 10 Level - First
Bedroom: 10 X 10 Level - First
Local Schools
High School: Bay
Middle School: Jinks
Elementary School: Cherry Street
Listed By / Shown By
Listed By
Agency Name: Keller Williams Realty Emerald
Shown By
Agency Title: RealtyMark
Agency Phone: 888-260-0040
Estimate Your Payment
Estimated Payment
$ 2,177.41 per month $1,925.12 Principal & Interest $0.00 Property Tax (data not provided by mls) $252.29 Homeowner's InsuranceChange Payment Information
405 Massalina Drive | MLS# 792225
This multi-family property located at 405 Massalina Drive, Panama City, FL 32401 is currently listed for sale with an asking price of $865,000. Search Panama City real estate on www.realtymark.net today.