3510/ 3536 Saint John Street, Panama City, FL 32401
- $6,243,750
- 50
- BA
- List Price
- $6,243,750
- MLS#
- R11145658
- Status
- ACTIVE
- Type
- Commercial
Property 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 2020—featuring updated flooring, fresh paint, windows, and fixtures—the 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.
Additional Information
- Days on Market
- 299
- Tax Amount
- $18,237
- Water Access
- Building Only, Business And Building
- Parcel Number
- 2338800000023389000000
- Lot Size
- 121,968
- Directions
- Follow US-98 E and US-98 BUS E to E 2nd St in Springfield. Take Kilbourn Ave to St John St. This property sits on 2 separate parcels separated by a small SFH.
- Address
- 3510/ 3536 Saint John Street, Panama City
- Year Built
- 1970
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Listing Courtesy of Luxe Coastal Realty Group LLC, Contact: