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119 College Avenue

Panama City, FL 32401
  • $779,000
  • STATUS: Active
  • ON SITE: 136 Days
  • MLS #: 758986
UPDATED: 29 min ago
$779,000
  • 15
    BEDS
  • 0.41
    ACRES
  • 9
    BATHS
  • 0
    1/2 BATHS
  • 5,222
    SQFT
  • $149
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1925
County:
Bay

School Information

Elementary School:
Middle School:
High School:
Bay

Description

Welcome to 119 College Ave., a property that presents an incredible investment opportunity with stable income generation from 6 rental units in a well-maintained and newly remodeled setting. All 6 units generate approximately $85,800 in gross annual income. This property is nestled on a large corner lot (.4 acres) and does not require flood insurance as it is in 'X'' flood zone. All buildings have newer 30-year dimensional shingle roofs that were installed in 2019. The primary rental house, consisting of 3 rental units (8 bedrooms and 5 bathrooms), has undergone a comprehensive remodel and was taken down to the studs and built back up with the finest attention to detail. It boasts a large front porch, three new HVAC units, and new kitchens equipped with brand-new appliances. On the lower level of the property, you will find a 3-bedroom, 2-bathroom split floor plan unit (Unit 2) with new luxury vinyl plank (LVP) flooring throughout and a large living room, perfect for comfortable living and entertaining. Unit 2 is rented currently for $1450 per month. Head upstairs and you will find another spacious 3-bedroom, 2-bathroom unit (Unit 1, $1325/month). This unit includes a separate entrance for the master bedroom and ensuite bath, an oversized laundry room, new LVP flooring, new kitchen and bathrooms, and two living areas. The primary house also has an attached apartment towards the back consisting of another rental unit with 2 bedrooms and 1 bathroom (Unit 3, $1000/month). Additionally, the building to the south of the primary house (Unit 7) is another rental unit consisting of 3 bedrooms, 2 bathrooms, and a utility/storage area ($1300/month). The two detached properties towards the west of this multi-family estate are both 2-bedroom and 1-bath rental units (Unit 5, $1100/month and Unit 6, $975/month). Unit 6 has also been extensively remodeled.This is your opportunity to expand your rental portfolio and add 6 income producing units for a total of 15 bedrooms and 9 bathrooms. This property has a great return on investment, and all rental units are professionally managed by ERA Property Management. Make sure you check out the unit floor plans in the 'Documents' tab and under photos and schedule your private viewing today!

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© 2024 Central Panhandle Association of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Coastal Connection at eXp Realty. Data last updated: 2024-11-05T16:53:35.807.
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119 College Avenue Panama City, FL 32401

  • Price: $779,000
  • Status: Active
  • On Site: 136 Days
  • Updated: 29 min ago
  • MLS #: 758986
15
Beds
9
Baths
0
½ Baths
0.41
Acres
5,222
SQFT
$149
$/SQFT
1925
Built
Neighborhood:
[No Recorded Subdiv]
County:
Bay
Area:
Bay County-Central
Elementary School:
Cherry Street
Middle School:
Jinks
High School:
Bay
Property Description
Welcome to 119 College Ave., a property that presents an incredible investment opportunity with stable income generation from 6 rental units in a well-maintained and newly remodeled setting. All 6 units generate approximately $85,800 in gross annual income. This property is nestled on a large corner lot (.4 acres) and does not require flood insurance as it is in 'X'' flood zone. All buildings have newer 30-year dimensional shingle roofs that were installed in 2019. The primary rental house, consisting of 3 rental units (8 bedrooms and 5 bathrooms), has undergone a comprehensive remodel and was taken down to the studs and built back up with the finest attention to detail. It boasts a large front porch, three new HVAC units, and new kitchens equipped with brand-new appliances. On the lower level of the property, you will find a 3-bedroom, 2-bathroom split floor plan unit (Unit 2) with new luxury vinyl plank (LVP) flooring throughout and a large living room, perfect for comfortable living and entertaining. Unit 2 is rented currently for $1450 per month. Head upstairs and you will find another spacious 3-bedroom, 2-bathroom unit (Unit 1, $1325/month). This unit includes a separate entrance for the master bedroom and ensuite bath, an oversized laundry room, new LVP flooring, new kitchen and bathrooms, and two living areas. The primary house also has an attached apartment towards the back consisting of another rental unit with 2 bedrooms and 1 bathroom (Unit 3, $1000/month). Additionally, the building to the south of the primary house (Unit 7) is another rental unit consisting of 3 bedrooms, 2 bathrooms, and a utility/storage area ($1300/month). The two detached properties towards the west of this multi-family estate are both 2-bedroom and 1-bath rental units (Unit 5, $1100/month and Unit 6, $975/month). Unit 6 has also been extensively remodeled.This is your opportunity to expand your rental portfolio and add 6 income producing units for a total of 15 bedrooms and 9 bathrooms. This property has a great return on investment, and all rental units are professionally managed by ERA Property Management. Make sure you check out the unit floor plans in the 'Documents' tab and under photos and schedule your private viewing today!
Exterior Features

Construction Materials Vinyl Siding Exterior Features Balcony Deck Garage YN No Lot Features Corner Lot Patio And Porch Features Balcony Covered Deck Porch Road Frontage Type City Street Road Surface Type Paved Roof Shingle

Interior Features

Appliances Dishwasher Electric Cooktop Electric Oven Electric Water Heater Disposal Microwave Refrigerator Cooling Central Air Electric Multi Units Cooling YN Yes Entry Level 1 Furnished Unfurnished Heating Electric Heating YN Yes Interior Features High Ceilings Vaulted Ceiling(s) Rooms Bedroom (First Level) Bedroom (First Level) Primary Bedroom (First Level) Bedroom (First Level) Primary Bedroom (First Level) Bedroom (First Level) Primary Bedroom (First Level) Bedroom (First Level) Primary Bedroom (First Level) Bedroom (Second Level) Bedroom (Second Level) Primary Bedroom (Second Level) Bedroom (First Level) Bedroom (First Level) Primary Bedroom (First Level)

Property Features

Association YN No Community Features Short Term Rental Allowed Lease Term Other Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash Conventional Lot Size Dimensions 179x120x179x120 Occupant Type Occupied Property Sub Type Multi Family Property Sub Type Additional Multi Family Special Listing Conditions Listed As- Is Tax Annual Amount 2910 Tax Year 2023 Utilities Electricity Connected Water Connected Waterfront YN No Zoning Description Resid Multi- Family

Central Panhandle Association of REALTORS (Panama City MLS) logo Listing provided courtesy of ERA Neubauer Real Estate, Inc: (850) 872-3434. Listing information © 2024 Central Panhandle Association of Realtors MLS.


© 2024 Central Panhandle Association of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Coastal Connection at eXp Realty. Data last updated: 2024-11-05T16:53:35.807.
 
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