209 Sherman Ave, Panama City, FL 32401

$250,000
: 4
BD
: 4
BA
: 1,920
SqFt

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List Price: $250,000
Price Change: ▼ $25,000 1790981005
MLS#: 1012259
Status: ACTIVE
Type: Multifamily
Subtype: Duplex - All Units
Bedrooms: 4
Bathrooms: 4
Living Area: 1,920
Neighborhood: Bay - Central SE

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Property Description

INVESTMENT OPPORTUNITY -- FOUR FULLY OCCUPIED RENTAL UNITS! 209 Sherman Ave features four currently occupied apartment units, generating $750 per unit per month, or $3,000 in gross monthly rental income / $36,000 annually. Each unit is individually metered. Owner-reported utilities average approximately $250/month. Property taxes are approximately $2,500 annually. The property consists of two buildings on approximately 0.23 acres with off-street parking. Built in 1947, the property offers an established rental setup with four income-producing units in a convenient Panama City location. Strong opportunity for an investor seeking existing rental income and an occupied multifamily property. Buyer to verify all unit count, square footage, room dimensions, rental income, expenses, utility arrangements, taxes, insurance, zoning, permits, property condition and all other information deemed important by buyer.

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Additional Information

Elementary School: Cherry Street
High School: Bay
Legal Description: OLD MILL ADDLOT 13 LESS N 7' BLK 4ORB 3864 P 835
Middle School: Jinks
Neighborhood: Bay - Central SE
Subdivision: No Recored Sub
Year Built: 1947