For Sale
$3,700,000

644 Caladium CirPanama City Beach, FL 32413

26-Unit Complex, High ROI Potential

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 26-unit multi-family property located at 644 W Caladium Circle, Panama City Beach, Florida, 32413. The property, built in 1982, encompasses 9,660 square feet and boasts a prime beachfront location directly across from the Gulf of Mexico. The complex comprises 22 studio units, two one-bedroom/one-bathroom units, and two two-bedroom/one-bathroom units. All 26 units have recently undergone a complete renovation, featuring fresh paint, new composite flooring, updated fixtures, and brand new bathrooms and appliances. Currently operating at full occupancy with an average monthly rent of $1,000 per unit, this property offers immediate cash flow from day one. The strong rental demand and high potential for rent increases in this highly sought-after location present a significant upside for future returns. The property's versatility is a key advantage; it could continue operating as an apartment complex, be converted into a hotel-style short-term rental operation, or potentially be subdivided into individual condo units for separate sale. This presents a unique opportunity for investors seeking a high-yield, beachfront property with diverse development potential. The asking price for this exceptional property is $3,700,000.

Highlights

  • $3,700,000 asking price for a 9,660 SF special purpose property.
  • 26 units (22 studios, 2 one-bedroom/one-bath, 2 two-bedroom/one-bath).
  • Built in 1982, located at 644 W Caladium Circle, Panama City Beach, FL 32413.
  • Fully rented with average monthly rent of $1,000 per unit, offering immediate cash flow.
  • Prime location across from the beach, near restaurants and shopping.

Property Details for 644 Caladium Cir

Property type
Specialty properties
Square Feet
9,660 SF
Year Built
1982
Units
26

Location Insight

City
Panama City Beach
County
Bay
State
Florida
Latitude
30.2065019
Longitude
-85.8582597
644 Caladium Cir, Panama City Beach, Florida

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644 Caladium Cir
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