119 College Avenue
Panama City, FL 32401
$695,000
Active
Description
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
Listing details MLS# 1005725
Location, Tax and Legal
- Area
- 27 - Bay County
- Sub area
- 2702 - Bay - Central SE
- County
- Bay
- Parcel ID
- 22946-000-000
- Legal description
- Holmes Add N 120' Of Lot 1 Blk 19 Less 20' For Rd Orb 4353 P 2306
General Property Info
- Property type
- Commercial for Sale
- Acreage
- 0.41
- Lot size (sq ft)
- 17859.6
- Lot dimensions
- 179 x 120 x 179 x 120
Remarks and Misc
- Directions
- From Bay Medical Center (Ascension Sacred Heart Bay), head south on North Bonita Ave for approx. .2 miles and turn left on Bus-US 98. In approx. 1 mile, take a right onto Sherman Ave. Proceed .2 miles and then take a left on E 3rd St. Proceed .2 miles and take a right onto College Ave. Buildings will be on the corner lot on the right.
