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3510/ 3536 Saint John Street, Panama City FL 32401

Panama City, FL 32401

$6,243,750

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Price
$6,243,750
Building size
33,060
Property type
Multi Family
Year built
1970
Lot size (sq ft)
121,968
MLS number
R11145658

This listing is courtesy of Luxe Coastal Realty Group LLC, 848-220-5555.

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About this property

This 50-unit garden-style community delivers strong fundamentals and consistent performance, supported by a diverse unit mix of 8 one-bed, 20 two-bed, 12 three-bed, and 10 four-bed units. With 42 units renovated since 2020—featuring updated flooring, fresh paint, windows, and fixtures—the property offers modern appeal and reduced turnover risk. Additional income is generated through an on-site laundry facility, and a separate office building with storage provides valuable operational flexibility. Major capital improvements include new metal roofs, upgraded electrical panels, and multiple HVAC and water-heater replacements, minimizing near-term CapEx exposure. Steady occupancy and an assumable $4.57M, 3.75% fixed-rate non-recourse loan enhance the investment's strength in today's lending environment. Positioned near major retailers, schools, employment centers, and within minutes of Panama City Beach, the property sits in a high-demand rental corridor with long-term growth potential. A recent price adjustment further improves the opportunity for investors seeking stability and upside.

Details

Property type
Multi Family
Year built
1970
Lot size (sq ft)
121,968

Location

Listing information is deemed reliable but is not guaranteed accurate by MIAMI REALTORS®.

Newmar Brokerage, LLC

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3510/ 3536 Saint John Street, Panama City FL 32401 | Newmar Brokerage, LLC