119 College AVE Panama City, FL 32401
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Coming Soon
Purchase Type For Sale
Square Footage 5,222 sqft
Price per Sqft $138
Subdivision [No Recorded Subdiv]
MLS Listing ID 789830
Bedrooms 15
Full Baths 9
HOA Y/N No
Year Built 1936
Annual Tax Amount $5,039
Tax Year 2025
Lot Size 0.410 Acres
Acres 0.41
Property Sub-Type Multi Family
Property Description
SELLER OFFERING $25,000 TOWARD BUYER CLOSING COSTS, PREPAIDS, OR RATE BUYDOWN!
Welcome to 119 College Avenue, an exceptional income-producing property featuring six rental units in a well-maintained, recently remodeled setting, currently generating over $82,000 in gross annual income.
Situated on a spacious 0.4-acre corner lot in Flood Zone X (no flood insurance required), the property consists of four total buildings. The primary residence featuring three units has been fully renovated down to the studs and rebuilt with quality finishes throughout, offering three separate rental units (Units 1, 2, and 3) totaling 8 bedrooms and 5 bathrooms, along with a welcoming front porch, three new HVAC systems, and updated kitchens with new appliances. Unit 1 is a 3-bedroom, 2-bath upstairs unit rented for $1,290/month, featuring a private entrance to the primary suite, oversized laundry room, new LVP flooring, updated kitchen and baths, and two living areas. Unit 2 is a 3-bedroom, 2-bath downstairs unit rented for $1,450/month, offering a split floor plan, spacious living area, and new LVP flooring throughout. Unit 3 is a 2-bedroom, 1-bath rear apartment rented for $1,000/month. In addition to the main house, the property includes three detached single-family homes: Unit 7, a 3-bedroom, 2-bath unit with a utility/storage area rents for $1,000/month; Unit 5, a 2-bedroom, 1-bath unit rented for $990/month; and Unit 6, a 2-bedroom, 1-bath unit rented for $1,125/month and extensively remodeled. Altogether, the property offers 15 bedrooms and 9 bathrooms across six income-producing units. All rentals are professionally managed by ERA Property Management, making this a seamless, turnkey investment opportunity. Floor plans are available in the Documents section and photo gallery. Schedule your private showing today to explore the full potential of this multi-unit property.
Location
State FL
County Bay
Community Short Term Rental Allowed
Area 02 - Bay County - Central
Interior
Heating Electric
Cooling Central Air, Multi Units
Fireplace No
Appliance Electric Cooktop, Electric Oven, Electric Water Heater
Exterior
Exterior Feature Covered Patio
Community Features Short Term Rental Allowed
Utilities Available Electricity Available, Sewer Available
Roof Type Shingle
Porch Balcony, Deck, Covered, Porch
Private Pool No
Building
Lot Description Paved
Sewer Public Sewer
New Construction No
Schools
Elementary Schools Cherry Street
Middle Schools Jinks
High Schools Bay
Others
Restrictions Short Term Rentals Allowed
Tax ID 22946-000-000
Special Listing Condition Listed As-Is
NEARBY SCHOOL & BUSINESS
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