119 College Avenue, Panama City, FL 32401
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  • MLS#: 789830 ( Residential )
  • Street Address: 119 College Avenue
  • Viewed: 1
  • Price: $724,000
  • Price sqft: $139
  • Waterfront: No
  • Year Built: 1936
  • Bldg sqft: 5222
  • Bedrooms: 15
  • Total Baths: 9
  • Full Baths: 9
  • Additional Information
  • Geolocation: 30.1502 / -85.6314
  • County: BAY
  • City: Panama City
  • Zipcode: 32401
  • Subdivision: [no Recorded Subdiv]
  • Elementary School: Cherry Street
  • Middle School: Jinks
  • High School: Bay
  • Provided by: ERA Neubauer Real Estate, Inc
  • DMCA Notice
  • Description
    Coming soon listing, no showings seller offering $25,000 toward buyer closing costs, prepaids, or rate buydown! Welcome to 119 college avenue, an exceptional income producing property featuring six rental units in a well maintained, recently remodeled setting, currently generating over $82,000 in gross annual income. Situated on a spacious 0. 4 acre corner lot in flood zone x (no flood insurance required), the property consists of four total buildings. The primary residence featuring three units has been fully renovated down to the studs and rebuilt with quality finishes throughout, offering three separate rental units (units 1, 2, and 3) totaling 8 bedrooms and 5 bathrooms, along with a welcoming front porch, three new hvac systems, and updated kitchens with new appliances. Unit 1 is a 3 bedroom, 2 bath upstairs unit rented for $1,290/month, featuring a private entrance to the primary suite, oversized laundry room, new lvp flooring, updated kitchen and baths, and two living areas. Unit 2 is a 3 bedroom, 2 bath downstairs unit rented for $1,450/month, offering a split floor plan, spacious living area, and new lvp flooring throughout. Unit 3 is a 2 bedroom, 1 bath rear apartment rented for $1,000/month. In addition to the main house, the property includes three detached single family homes: unit 7, a 3 bedroom, 2 bath unit with a utility/storage area rents for $1,000/month; unit 5, a 2 bedroom, 1 bath unit rented for $990/month; and unit 6, a 2 bedroom, 1 bath unit rented for $1,125/month and extensively remodeled. Altogether, the property offers 15 bedrooms and 9 bathrooms across six income producing units. All rentals are professionally managed by era property management, making this a seamless, turnkey investment opportunity. Floor plans are available in the documents section and photo gallery. Schedule your private showing today to explore the full potential of this multi unit property.
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Features
Building and Construction
  • Covered Spaces: 0.00
  • Exterior Features: CoveredPatio
  • Living Area: 0.00
  • Roof: Shingle
Land Information
  • Lot Features: Paved
School Information
  • High School: Bay
  • Middle School: Jinks
  • School Elementary: Cherry Street
Garage and Parking
  • Garage Spaces: 0.00
  • Open Parking Spaces: 0.00
Utilities
  • Carport Spaces: 0.00
  • Cooling: CentralAir, MultiUnits
  • Heating: Electric
  • Road Frontage Type: CityStreet
  • Sewer: PublicSewer
  • Utilities: ElectricityAvailable, SewerAvailable
Finance and Tax Information
  • Home Owners Association Fee: 0.00
  • Insurance Expense: 0.00
  • Net Operating Income: 0.00
  • Other Expense: 0.00
  • Pet Deposit: 0.00
  • Security Deposit: 0.00
  • Tax Year: 2025
  • Trash Expense: 0.00
Other Features
  • Appliances: ElectricCooktop, ElectricOven, ElectricWaterHeater
  • Legal Description: HOLMES ADD N 120' OF LOT 1 BLK 19 LESS 20' FOR RD ORB 4353 P 2306 (See Warranty Deed for full legal description)
  • Area Major: 02 - Bay County - Central
  • Occupant Type: Occupied
  • Parcel Number: 22946-000-000
  • The Range: 0.00