3533 U S 98 Panama City, FL 32401
Saint Andrews NeighborhoodEstimated payment $7,450/month
Total Views
968
--
Bed
--
Bath
1,837
Sq Ft
$648
Price per Sq Ft
About This Home
Completely revitalized and effectively new as of 2021, this 14-unit multifamily property offers an exceptional turnkey investment opportunity. Each studio unit is approximately 280 square feet and has been fully updated as of 2021 with brand-new electrical wiring, sewer and water lines, windows and doors, drywall, trusses, and roof. With full occupancy and consistent rental income, this asset provides stable cash flow and minimal operational headaches. The site includes 15 parking spaces to accommodate tenants and guests comfortably. Investors will appreciate the potential cap rate of approximately 10%, underscoring the property's strong performance and value within the local rental market. Whether held as a steady income producer or added to a growing portfolio, this property stands out as a rare opportunity to acquire a fully renovated multifamily complex offering modern infrastructure and long-term financial strength. Rent roll and financials available upon request.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 2021
Lot Details
- 8,712 Sq Ft Lot
Schools
- Lucille Moore Elementary School
- Jinks Middle School
- Bay High School
Community Details
- No Home Owners Association
Map
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/09/2025 11/09/25 | For Sale | $1,190,000 | -- | $648 / Sq Ft |
Source: Central Panhandle Association of REALTORS®
About the Listing Agent
Originally from Pennsylvania, Michael Werner joined the Air Force and made the military his first career. Retiring in 2010, after many military relocations, he and his family made Panama City, FL their permanent home. Mike has been a licensed Realtor since 2012 and operates with his real estate assistant and spouse Ilona. They take pride in serving military families, the local community, and investors from all walks of life. Mike is a Top Producer, Top 20% in the Gulf States Region, and
Michael's Other Listings
-
$365,000 Sold Apr 28, 2025
- 3 Beds
- 2.5 Baths
- 1,761 Sq Ft
- 8700 Front Beach Rd
- Unit 3107
- Panama City Beach, FL
Source: Central Panhandle Association of REALTORS®
MLS Number: 781440
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