209 Sherman Avenue
Panama City, FL 32401
$250,000
Active
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.
Listing details MLS# 1012259
Location, Tax and Legal
- Area
- 27 - Bay County
- Sub area
- 2702 - Bay - Central SE
- Subdivision
- No Recored Sub
- County
- Bay
- Parcel ID
- 22427-000-000
- Tax year
- 2025
- Annual tax
- 2835.1
- Legal description
- OLD MILL ADDLOT 13 LESS N 7' BLK 4ORB 3864 P 835
General Property Info
- Property type
- Residential
- Year built
- 1947
- New construction
- No
- Condition
- Construction Complete
Interior
- Bedrooms
- 4
- Bathrooms
- 4
- Full baths
- 4
- Half baths
- 0
- Building area
- 1920
- Cooling
- Wall/Window Unit(s)
- Flooring
- Floor Tile
- Total rooms
- 6
Exterior and Site
- Construction
- Block
- Roof
- Roof Metal
- Foundation
- Slab
- Pool
- No
Utilities
- Utilities
- Electric, Public Water
- Sewer
- Public Sewer
Schools
- Elementary
- Cherry Street
- Middle school
- Jinks
- High school
- Bay
Remarks and Misc
- Directions
- Traveling East on Hwy 98, make a right on Sherman Ave. Travel approximately half a mile and the property will be on the Right.
