For Sale
$635,000

3900 17Th StPanama City, FL 32401

Historic St. Andrews income property. High rental potential.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional multifamily investment opportunity is located in the heart of Historic St. Andrews, Florida, just two blocks from the Bay. Situated on a corner lot, this property comprises two structures: a 3,400 square foot single-family home featuring four bedrooms and 3.5 bathrooms, and a triplex with three one-bedroom, one-bathroom apartments. The single-family home includes a mother-in-law suite, offering the potential for a total of five rental units. The property boasts separate water and electric meters for each structure, simplifying management. Additional units could be constructed due to the favorable zoning and generous lot size. Amenities include a fiberglass saltwater pool, a two-car garage, and ample outdoor space suitable for recreational vehicles. The property generates a monthly rental income ranging from $5,500 to $6,500, projecting a strong capitalization rate of at least 8%. Built in 1950, this one-story building presents a compelling investment opportunity for both owner-occupants and investors. The address is 3900 W 17th St, Panama City, FL 32401. Asking price is $635,000.

Highlights

  • Exceptional multifamily investment opportunity in Historic St. Andrews, Florida, two blocks from the Bay.
  • Corner lot with a 3,400 sq ft, 4 bed/3.5 bath single-family home and a 3-unit triplex (all 1 bed/1 bath).
  • Potential for five rental units including a mother-in-law suite.
  • Separate utilities (water & electric) for each structure simplify management.
  • Favorable zoning allows for additional unit construction.
  • Amenities include a saltwater pool, two-car garage, and ample RV parking.

Property Details for 3900 17Th St

Property type
Apartment buildings, Small apartment buildings
Year Built
1950
Stories
1

Location Insight

City
Panama City
County
Bay
State
Florida
Latitude
30.1794763
Longitude
-85.7111799
3900 17Th St, Panama City, Florida

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3900 17Th St
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