3510 St John Street, Panama City, FL 32401

Details

Welcome to an exceptional investment opportunity in the thriving multifamily sector—a 50-unit garden-style apartment community now available for sale. This meticulously maintained property is perfectly poised for the discerning investor seeking both stability and growth potential. Comprised of a diverse mix of units, the community offers 8 one-bedroom, 20 two-bedroom, 12 three-bedroom, and 10 four-bedroom apartments, catering to a wide range of tenants. With 42 of the units elegantly renovated since 2020, residents enjoy modern amenities and finishes, including composite flooring, fresh interior paint, and updated windows. Significant capital improvements have been made to ensure long-term durability and reduced maintenance costs, such as all-new metal roofs and substantial replacements of HVAC systems and hot water heaters. The property also boasts new breaker panels and exterior electric panels, further enhancing its modern appeal and efficiency. Achieving a remarkable 95% occupancy rate, this community is a proven performer in the rental market. Additionally, a $4.57 million fixed-rate, 3.75% assumable non-recourse financing offers a competitive edge, making this an even more attractive investment. Don't miss the chance to acquire a multifamily asset with significant improvements, strong occupancy, and favorable financing—an ideal addition to any real estate portfolio.