Address: 3510- 3536 Saint John Street, Panama City, FL 32401
Description
This 50 unit garden style community delivers strong fundamentals and consistent performance, supported by a diverse unit mix of 8 one bed, 20 two bed, 12 three bed, and 10 four bed units. With 42 units renovated since 2020featuring updated flooring, fresh paint, windows, and fixturesthe property offers modern appeal and reduced turnover risk. Additional income is generated through an on site laundry facility, and a separate office building with storage provides valuable operational flexibility. Major capital improvements include new metal roofs, upgraded electrical panels, and multiple HVAC and water heater replacements, minimizing near term CapEx exposure. Steady occupancy and an assumable $4.57M, 3.75% fixed rate non recourse loan enhance the investment's strength in today's lending environment. Positioned near major retailers, schools, employment centers, and within minutes of Panama City Beach, the property sits in a high demand rental corridor with long term growth potential. A recent price adjustment further improves the opportunity for investors seeking stability and upside.
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