401 & 405 Massalina DR Panama City, FL 32401
9 Beds
7 Baths
0.25 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Bunkers Cove
MLS Listing ID 781413
Bedrooms 9
Full Baths 7
HOA Y/N No
Year Built 2025
Annual Tax Amount $786
Tax Year 2024
Lot Size 10,890 Sqft
Acres 0.25
Property Sub-Type Multi Family
Property Description
3 SEPARATE STRUCTURES, 2 SEPARATE PARCELS, 1 AWESOME PRICE!! 401 AND 405 Massalina Drive - Waterfront Opportunity on Massalina Bayou!
Discover an exceptional investment OR lifestyle opportunity with 2 separate parcels sold together on the scenic Massalina Bayou. This RARE WATERFRONT package includes a NEW CONSTRUCTION (2025) 3-bed, 2-bath MAIN home with a private pool, a NEW CONSTRUCTION (2025) 2-bed, 1-bath CARRIAGE house, AND (4) four 1-bed, 1-bath waterfront apartments—all positioned to generate immediate SHORT -TERM or LONG-TERM income. Property Features:
Main Residence (New Construction),
3 Bedrooms • 2 Bathrooms,
Private pool with water views,
Scheduled to be fully furnished within the next few weeks.
Turn-key as a primary residence or ready for both short- and long-term rentals.
High-end finishes and thoughtful coastal design throughout
Carriage House (New Construction).
2 Bedrooms • 1 Bathroom.
Currently leased with a 6-month tenant—income from day one,
Modern layout with premium materials and stunning waterfront backdrop.
Four Waterfront Apartments,
Each unit: 1 Bedroom • 1 Bathroom.
Two of the four units currently rented and producing income.
Ideal for long-term tenants or short-term rentals,
Waterfront setting offers exceptional demand and rental potential
Additional Highlights
Newly constructed dock connecting both parcels, creating the feel of one expansive waterfront estate.
Beautifully manicured landscaping throughout.
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 a luxurious primary residence with rental opportunities built in.
With its unmatched flexibility, new construction quality, and breathtaking bayou views, 401 & 405 Massalina Drive is a ONE-OF-A-KIND chance to secure a premier waterfront property with incredible income potential.
The number of bedrooms , bathrooms, and square footage represented in the listing is a total of all 3 structures that are being offered for sale. All measurements and dimensions to be verified by the Buyer.
Location
State FL
County Bay
Community Short Term Rental Allowed
Area 02 - Bay County - Central
Interior
Interior Features Breakfast Bar, High Ceilings, Recessed Lighting, Window Treatments
Heating Central
Cooling Central Air, Ceiling Fan(s)
Flooring Tile
Fireplace No
Appliance Dryer, Dishwasher, Disposal, Microwave, Wine Refrigerator, Washer
Exterior
Exterior Feature Balcony, Dock, Sprinkler/Irrigation, Outdoor Kitchen
Parking Features Carport, Driveway
Garage Spaces 1.0
Garage Description 1.0
Pool Gunite, In Ground
Community Features Short Term Rental Allowed
Amenities Available Boat Ramp
Waterfront Description Bayou,Waterfront
Water Access Desc Bayou,Waterfront
View Bayou
Porch Balcony, Covered, Patio, Porch
Building
Lot Description Landscaped, Waterfront, Sprinkler System, Paved
Story 2
Entry Level Two
Sewer Public Sewer
Level or Stories Two
New Construction Yes
Stories 2
Floor Plan Two
Schools
Elementary Schools Cherry Street
Middle Schools Jinks
High Schools Bay
Others
Tax ID 20456-010-000 & 20456-000-000