# 3533 US-98, Panama City, FL 32401

> **TL;DR:** residential multi family, $1,190,000 ($648/sqft), built 1970, 1,837 sqft. Est. $5,157/mo. Listed 204 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $1,190,000 |
| Price/sqft | $648 |
| Square Feet | 1,837 |
| Year Built | 1970 |
| Lot Size | 8,712 sqft (0.20 acres) |
| Property Type | Residential Multi Family (Other) |
| Status | For Sale |
| Days on Market | 204 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $5,157 |
| **Total** | **$5,157** |

## Nearby Schools

- **Elementary:** Lucille Moore
- **Middle:** Jinks
- **High:** Bay

## Property Highlights

- Built in 1970
- 0.20 acre lot

## Description

### Agent Description
Completely revitalized and effectively new as of 2021, this 14-unit multifamily property offers an exceptional turnkey investment opportunity. Each studio unit is approximately 280 square feet and has been fully updated as of 2021 with brand-new electrical wiring, sewer and water lines, windows and doors, drywall, trusses, and roof. With full occupancy and consistent rental income, this asset provides stable cash flow and minimal operational headaches. The site includes 15 parking spaces to accommodate tenants and guests comfortably. Investors will appreciate the potential cap rate of approximately 10%, underscoring the property's strong performance and value within the local rental market. Whether held as a steady income producer or added to a growing portfolio, this property stands out as a rare opportunity to acquire a fully renovated multifamily complex offering modern infrastructure and long-term financial strength. Rent roll and financials available upon request.

## Location

- **Address:** 3533 US-98, Panama City, FL 32401
- **County:** Bay
- **Neighborhood:** [No Recorded Subdiv]
- **Coordinates:** 30.180522, -85.707395
- **Google Maps:** https://www.google.com/maps?q=30.180522,-85.707395

## Listing Agent

- **Name:** Michael S Werner
- **Brokerage:** Keller Williams Success Realty
- **Phone:** 8508146266
- **Email:** Michaelwerner.realtor@gmail.com

## Primary Photo

![3533 US-98 - Primary Photo](http://lh.rdcpix.com/060f8623ae7d04d9e712bdcf62494e8bl-f2112536911r.jpg)

*5 total photos available on [listing page](https://www.propertysimple.com/listing/3533-us-98-panama-city-fl-32401-l781440)*

---

**MLS#:** 781440 | **Updated:** 2026-06-18
**Source:** listhub

*Copyright © 2026 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/3533-us-98-panama-city-fl-32401-l781440)

---

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