2605 Redwood ST Panama City Beach, FL 32408
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 4,432 sqft
Price per Sqft $191
Subdivision Treasure Cove
MLS Listing ID 785031
Style Duplex
Bedrooms 10
Full Baths 4
Half Baths 4
HOA Y/N No
Year Built 1978
Annual Tax Amount $4,271
Tax Year 2025
Lot Size 8,276 Sqft
Acres 0.19
Property Sub-Type Duplex
Property Description
The property offers a desirable unit mix of spacious 3-bedroom and 2-bedroom apartments, each with 1½ bathrooms. All apartments have been renovated with new kitchen, new flooring throughout, and Energy saving appliances. appealing to long-term tenants and supporting consistent occupancy. All apartments have been recently renovated. Recent capital improvements significantly enhance the property's value and reduce near-term maintenance, including brand-new flooring throughout, A/C unit is less than 4 years old, the roof was replaced in 2019, part of the siding on each building has been replaced, a newly installed septic tank.
With all apartments currently rented, the property generates an estimated Net Operating Income of $70,000 annually, offering investors an attractive 7% cap rate. The combination of strong in-place income, recent upgrades, and minimal deferred maintenance makes this an ideal acquisition for investors seeking stable returns with limited operational risk.
Whether you're expanding an existing portfolio or entering the multifamily market, 2605 Redwood Street represents a compelling opportunity to secure a high-performing asset in the new year.
No signs on the property, please do not disturb tenants.
Location
State FL
County Bay
Community Short Term Rental Allowed
Area 03 - Bay County - Beach
Interior
Heating Central
Cooling Central Air
Fireplace No
Appliance ENERGY STAR Qualified Appliances, Electric Oven
Exterior
Exterior Feature Patio
Parking Features No Garage
Fence Fenced
Community Features Short Term Rental Allowed
Roof Type Composition,Shingle
Porch Patio
Private Pool No
Building
Lot Description Paved
Dwelling Type Duplex
Sewer Public Sewer
Architectural Style Duplex
New Construction No
Schools
Elementary Schools Patronis
Middle Schools Surfside
High Schools Arnold
Others
Restrictions Short Term Rentals Allowed
Tax ID 31054-000-000
Special Listing Condition Listed As-Is
NEARBY SCHOOL & BUSINESS
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