803 Oak Avenue, Panama City, FL 32401
- $496,000
- 6
- BD
- 4
- BA
- List Price
- $496,000
- Status
- ACTIVE
- MLS#
- 787848
- Subtype
- Residential
- Style
- Triplex
- Year Built
- 1964
- Bedrooms
- 6
- Bathrooms
- 4
- Full Baths
- 4
- Lot Size
- 15,987
- Acres
- 0.37
- Subdivision
- Gulf Coast Dev Co Plat
- Neighborhood
- Bay - Central SW
- MLS Area Major
- Bay County - Central
Property Description
Investment Opportunity on 100x160 corner lot in Downtown Panama City! This versatile property is divided into three separate units and offers excellent income potential. It is centrally located near downtown Panama City dining, and shopping. Situated on a large lot with a huge side yard, there's ample space potentially for expansion, additional amenities, or future development. The property features: • Unit 1: 2 bedrooms, 1 bath • Unit 2: 1 bedroom, 1 bath • Unit 3: 3 bedrooms, 2 baths Seller says current rental income - Unit 1 renting for $1,500/month, Unit 3 for $2,000/month, and Unit 2 previously renting between $500-$700/month--bringing total potential income to over $4,000 per month. Live in one unit and rent the others or maximize returns by leasing all three--flexibility makes this property ideal for both investors and owner-occupants. Extensively updated in 2022, including new kitchens, bathrooms, flooring, roof, and more, this property is move-in ready and positioned for immediate cash flow. All measurements are approximate and should be verified by buyer.
Additional Information
- Exterior Features
- Patio
- Property Description
- Triplex
- Appliances
- Electric Range, Tankless Water Heater
- Heating
- Central, Ductless, Electric
- Air Conditioning
- Central Air, Ductless
- Exterior Construction
- Brick
- Stories
- 1
- Levels
- One
- Roof
- Composition, Shingle
- Elementary School
- Cherry Street
- Middle School
- Jinks
- High School
- Bay
Listing courtesy of Local Insight Realty.