116 Springfield AVE Panama City, FL 32401
6 Beds
6 Baths
2,907 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,907 sqft
Price per Sqft $209
Subdivision No Named Subdivision
MLS Listing ID 790574
Bedrooms 6
Full Baths 6
HOA Y/N No
Year Built 1952
Annual Tax Amount $8,434
Tax Year 2025
Lot Size 0.310 Acres
Acres 0.31
Property Sub-Type Multi Family
Property Description
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
Location
State FL
County Bay
Community Short Term Rental Allowed
Area 02 - Bay County - Central
Interior
Interior Features Main Level Primary, Tub Shower
Cooling Window Unit(s)
Fireplace No
Appliance Electric Cooktop, Electric Oven
Exterior
Pool Other, See Remarks
Community Features Short Term Rental Allowed
Roof Type Shingle
Porch Covered, Porch
Private Pool No
Building
Foundation Slab
Sewer Public Sewer
New Construction No
Schools
Elementary Schools Cherry Street
Middle Schools Rutherford Middle
High Schools Rutherford
Others
Restrictions Short Term Rentals Allowed
Tax ID 24226-000-000
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