5802 E Highway 22 Active Save Request In-Person Tour Request Virtual Tour
Panama City,FL 32404
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision [No Recorded Subdiv]
MLS Listing ID 740921
Year Built 1971
Lot Size 2.050 Acres
Property Description
Here is your opportunity to purchase a 15 unit multifamily apartment complex with commercial road frontage property. This listing consists of two parcels of property. The Hwy 22 road frontage parcel is Parcel ID # 06086-010-000 which consists of .46 acre of vacant road frontage land. The second parcel is Parcel ID # 06086-000-000 which consists of 1.58 acres of land and holds 15 two bedroom one bath residential apartment units. There are currently 3 duplexes and 3 triplexes on this parcel. There are currently 7 occupied units at $1,100 per unit per month. There are several units that are in need of remodel (see photos.) At full occupancy, gross income would be $16,500 per month or higher with potential to rebuild several more units. Prior to Hurricane Michael, there were several more units on road frontage parcel. Slabs are still in place which would give potential Buyer more space for more units to be built. This property is just around the corner from Super Walmart, Starbucks, restaurants, shopping and a very short drive to Tyndall Air Force Base.
Location
State FL
County Bay
Area 02 - Bay County - Central
Interior
Heating Central,Electric
Cooling Central Air,Ceiling Fan(s),Electric
Flooring Tile
Exterior
Utilities Available Cable Available,Electricity Available,Phone Available,Sewer Available,Water Available
Waterfront No
Roof Type Composition,Shingle
Building
Lot Description Interior Lot
Story 1
Foundation Slab
Sewer Public Sewer
Water Public
Schools
Elementary Schools Parker
Middle Schools Everitt
High Schools Rutherford
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition Listed As-Is