About This Home
This 0-bedroom, 0-bathroom commercial at 116 Springfield Avenue in Panama City, FL is listed for $578,000 ($199 per sqft). Built in 1952, the home offers 2,907 sqft of living space on a 0.31 acres lot.
Key Features
- Built in 1952
- 0.31 acre lot
Property Details
Serious price improvement. The numbers make great sense, solid ROI. Welcome to a turnkey income-producing investment opportunity designed for ease, efficiency, and long-term value. Remodeled in 2021, this unique property features six detached single-family units, each offering one bedroom, one spacious bathroom, a comfortable living area, with a functional kitchen.
Fully occupied and currently generating $63,900 in annual gross rental income, this property offers immediate cash flow with rent rolls available for review. Each unit was thoughtfully updated in 2021 with major improvements including 30-year dimensional shingle roofs, energy-efficient windows, updated electrical wiring, fresh sheetrock, interior paint, luxury vinyl plank flooring, new kitchen cabinetry, and updated countertops.
For streamlined management, each unit is individually metered for both water and electricity, helping simplify operations and reduce owner responsibility. With six separate dwellings, modernized systems, and established rental income already in place, this property is a strong addition to any investment portfolio.
Whether you are looking to expand your rental holdings, secure consistent income, or invest in a low-maintenance multi-unit property, this turnkey opportunity is ready to perform from day one. Buyer to confirm measurements. Some photos edited and staged
Monthly Cost Estimate
$3,091/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
116 Springfield Avenue
Panama City, FL 32401
No Named Subdivision
Property Details
Construction
Cooling
Questions & Answers
This 0-bedroom, 0-bathroom commercial at 116 Springfield Avenue is listed at $578,000 ($199/sqft). The estimated monthly payment is $3,092 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1952, 0.31 acre lot.
This property is listed by Heather Fox and can be reached at 8505415774.
