Headshot for Associate Michelle Hill
  1. Michelle Hill, ABR,AHWD,PA,PSA,REALTOR ®,SFR
  2. Tropic Shores Realty
  3. Mobile: 352.247.2177
119 College Avenue, Panama City, FL 32401
  • MLS#: 758986 ( Residential )
  • Street Address: 119 College Avenue
  • Viewed: 60
  • Price: $769,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1925
  • Bldg sqft: 0
  • Bedrooms: 15
  • Total Baths: 9
  • Full Baths: 9
  • Days On Market: 242
  • 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
    Welcome to 119 College Ave., a property that presents an incredible investment opportunity with stable income generation from 6 rental units in a well maintained and newly remodeled setting. All 6 units generate approximately $85,800 in gross annual income. This property is nestled on a large corner lot (.4 acres) and does not require flood insurance as it is in 'X'' flood zone. All buildings have newer 30 year dimensional shingle roofs that were installed in 2019. The primary rental house, consisting of 3 rental units (8 bedrooms and 5 bathrooms), has undergone a comprehensive remodel and was taken down to the studs and built back up with the finest attention to detail. It boasts a large front porch, three new HVAC units, and new kitchens equipped with brand new appliances. On the lower level of the property, you will find a 3 bedroom, 2 bathroom split floor plan unit (Unit 2) with new luxury vinyl plank (LVP) flooring throughout and a large living room, perfect for comfortable living and entertaining. Unit 2 is rented currently for $1450 per month. Head upstairs and you will find another spacious 3 bedroom, 2 bathroom unit (Unit 1, $1325/month). This unit includes a separate entrance for the master bedroom and ensuite bath, an oversized laundry room, new LVP flooring, new kitchen and bathrooms, and two living areas. The primary house also has an attached apartment towards the back consisting of another rental unit with 2 bedrooms and 1 bathroom (Unit 3, $1000/month). Additionally, the building to the south of the primary house (Unit 7) is another rental unit consisting of 3 bedrooms, 2 bathrooms, and a utility/storage area ($1300/month). The two detached properties towards the west of this multi family estate are both 2 bedroom and 1 bath rental units (Unit 5, $1100/month and Unit 6, $975/month). Unit 6 has also been extensively remodeled.This is your opportunity to expand your rental portfolio and add 6 income producing units for a total of 15 bedrooms and 9 bathrooms. This property has a great return on investment, and all rental units are professionally managed by ERA Property Management. Make sure you check out the unit floor plans in the 'Documents' tab and under photos and schedule your private viewing today!
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Features
Possible Terms
  1. Cash
  2. Conventional
Appliances
  1. Dishwasher
  2. ElectricCooktop
  3. ElectricOven
  4. ElectricWaterHeater
  5. Disposal
  6. Microwave
  7. Refrigerator
Home Owners Association Fee
  1. 0.00
Carport Spaces
  1. 0.00
Close Date
  1. 0000-00-00
Cooling
  1. CentralAir
  2. Electric
  3. MultiUnits
Covered Spaces
  1. 0.00
Exterior Features
  1. Balcony
  2. Deck
Furnished
  1. Unfurnished
Garage Spaces
  1. 0.00
Heating
  1. Electric
High School
  1. Bay
Insurance Expense
  1. 0.00
Interior Features
  1. HighCeilings
  2. VaultedCeilings
Legal Description
  1. HOLMES ADD N 120' OF LOT 1 BLK 19 LESS 20' FOR RD ORB 4353 P 2306(Reference Warranty Deed for Full Legal Description)
Living Area
  1. 5222.00
Lot Features
  1. CornerLot
Middle School
  1. Jinks
Area Major
  1. 02 - Bay County - Central
Net Operating Income
  1. 0.00
Occupant Type
  1. Occupied
Open Parking Spaces
  1. 0.00
Other Expense
  1. 0.00
Parcel Number
  1. 22946-000-000
Pet Deposit
  1. 0.00
Property Type
  1. Residential
Road Frontage Type
  1. CityStreet
Roof
  1. Shingle
School Elementary
  1. Cherry Street
Security Deposit
  1. 0.00
Tax Year
  1. 2023
The Range
  1. 0.00
Trash Expense
  1. 0.00
Utilities
  1. ElectricityConnected
  2. WaterConnected
Views
  1. 60
Year Built
  1. 1925
Liked Listings
Headshot for Associate Michelle Hill
  1. Michelle Hill, ABR,AHWD,PA,PSA,REALTOR ®,SFR
  2. Tropic Shores Realty
  3. Mobile: 352.247.2177