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3510 St John Street
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PRICED AT ONLY: $6,750,000

Address: 3510 St John Street, Panama City, FL 32401

Description

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 12 one bedroom, 22 two bedroom, 18 three bedroom, and 8 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.

Property Location and Similar Properties

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  •   Principal & Interest $28,006
  •   Property Tax $
  •   Home Insurance $
  •   HOA Fees $
  •   Mortgage Insurance$0
  •   Monthly $37,569
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More Like This
  • MLS#: 769968 ( CommercialSale )
  • Street Address: 3510 St John Street
  • Viewed: 15
  • Price: $6,750,000
  • Price sqft: $204
  • Waterfront: No
  • Year Built: 1970
  • Bldg sqft: 33060
  • Days On Market: 27
  • Acreage: 2.80 acres

Description

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 12 one bedroom, 22 two bedroom, 18 three bedroom, and 8 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.
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Features
Building and Construction
  • Covered Spaces: 0.00
  • Living Area: 0.00
School Information
  • High School: Rutherford
  • Middle School: Everitt
  • School Elementary: Cherry Street
Garage and Parking
  • Garage Spaces: 0.00
  • Open Parking Spaces: 0.00
Utilities
  • Carport Spaces: 0.00
Finance and Tax Information
  • Home Owners Association Fee: 0.00
  • Insurance Expense: 0.00
  • Net Operating Income: 0.00
  • Other Expense: 0.00
  • Pet Deposit: 0.00
  • Security Deposit: 0.00
  • Trash Expense: 0.00
Other Features
  • Legal Description: 11 4S 14W -366.4- 118C4 BEG 787' N & 500' W OF SE COR OF SW1/4 OF SE1/4 TH W 285' S 256' E 285' N 256' TO POB ORB 4161 P 1823AND11 4S 14W -366.5- 118C4 BEG 600' N OF SE COR OF SW1/4 OF SE1/4 W 300' N 187' E 300' S 187' TO POB TOGETHER WITH ESMT ORB 4161 P 1823
  • Levels: Two
  • Area Major: 02 - Bay County - Central
  • Occupant Type: Occupied
  • Parcel Number: 23388-000-000
  • Possible Use: MultiFamily
  • The Range: 0.00
  • Views: 15
Nearby Subdivisions
[no Recorded Subdiv]   Cove   Davis Plat   Ellis, E.d.   Keiths 1st Add   Lakeside Plat   No Named Subdivision   Springfield  
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