405 Massalina Drive
Panama City, FL 32401
$865,000
Active
Description
$7100 per month or $85,200 per year in rental income from the carriage house and quadplex/fourplex. Perfect for a DSCR loan where your rental income pays for your mortgage, plus you get a dock and a place to park your boat on deep water. Waterfront masterpiece with deep water access to the Bay and the Gulf of Mexico. This is the most versatile quadplex/fourplex plus carriage house (comes fully furnished) in Panama City. Here is the rental income breakdown: Carriage house = $1750 per month; Apartment 1 (Civil Contractor) = $1450 per month; Apartment 2 (Realtor) = $1450 per month; Apartment 3 (Property Maintenance Man) = $1,000 per month (reduced because he takes care of the lawn and pool - you could charge $1450); Apartment 4 (Josh) = $1450 per month Total income = $7100 per month.
New custom landscaping and beautiful decking, shared dock with fish cleaning station. Location is easy to access to newly renovated downtown entertainment with shopping, dining, concerts and ongoing festivities. Direct views of Massalina Bayou offering serene surroundings and a true coastal lifestyle. Prime location near top shopping, dining, entertainment, and local attractions. This unique combination of parcels provides endless possibilities--multigenerational living, a fully income-producing investment, or use the carriage house a primary residence and rent out the fourplex for excellent rental income.
Listing details MLS# 1006983
Location, Tax and Legal
- Area
- 27 - Bay County
- Sub area
- 2703 - Bay - Central SW
- Subdivision
- COVE THE
- County
- Bay
- Parcel ID
- 20456-000-000
- Legal description
- SUDDUTHS 1ST ADD. LOT 20 BLK 8 ORB 4783 P 213 MAP 105C2
- Zoning
- Resid Multi-Family, Resid Single Family
General Property Info
- Property type
- Residential
- Year built
- 2025
- Lot dimensions
- 60x100
- New construction
- No
- Condition
- Construction Complete
Interior
- Bedrooms
- 7
- Bathrooms
- 6
- Full baths
- 6
- Building area
- 2988
- Heating
- Central
- Cooling
- Central Air
- Appliances
- Dishwasher, Disposal, Microwave, Refrigerator, Stove/Oven Electric, Water Heater - Gas, Water Heater - Tnkls
- Total rooms
- 9
Exterior and Site
- Construction
- Siding CmntFbrHrdBrd
- Exterior features
- Balcony, Fenced Back Yard, Summer Kitchen
- Patio and porch
- Deck Open, Porch Open
- Parking
- Carport Attached, Covered
- Carport spaces
- 2
- View
- Bayou, Bay
- Road surface
- Paved
- Road frontage
- City Street
Utilities
- Utilities
- Electric, Public Water, TV Cable
- Sewer
- Public Sewer
Schools
- Elementary
- Cherry Street
- Middle school
- Jinks
- High school
- Bay
Remarks and Misc
- Directions
- US-98 BUS E/W Beach Drive, turn left on 4th St, right on Oak Avenue, left to W 4th St. cross over bridge. Home is on the left. Corner Massalina Drive and 4th St
