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3510- 3536 Saint John Street
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PRICED AT ONLY: $6,243,750

Address: 3510- 3536 Saint John Street, Panama City, FL 32401

Description

This 50 unit garden style community delivers strong fundamentals and consistent performance, supported by a diverse unit mix of 8 one bed, 20 two bed, 12 three bed, and 10 four bed units. With 42 units renovated since 2020featuring updated flooring, fresh paint, windows, and fixturesthe property offers modern appeal and reduced turnover risk. Additional income is generated through an on site laundry facility, and a separate office building with storage provides valuable operational flexibility. Major capital improvements include new metal roofs, upgraded electrical panels, and multiple HVAC and water heater replacements, minimizing near term CapEx exposure. Steady occupancy and an assumable $4.57M, 3.75% fixed rate non recourse loan enhance the investment's strength in today's lending environment. Positioned near major retailers, schools, employment centers, and within minutes of Panama City Beach, the property sits in a high demand rental corridor with long term growth potential. A recent price adjustment further improves the opportunity for investors seeking stability and upside.

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More Like This
  • MLS#: 782381 ( CommercialSale )
  • Street Address: 3510- 3536 Saint John Street
  • Viewed: 41
  • Price: $6,243,750
  • Price sqft: $189
  • Waterfront: No
  • Year Built: 1970
  • Bldg sqft: 33060
  • Days On Market: 41
  • Acreage: 2.80 acres

Description

This 50 unit garden style community delivers strong fundamentals and consistent performance, supported by a diverse unit mix of 8 one bed, 20 two bed, 12 three bed, and 10 four bed units. With 42 units renovated since 2020featuring updated flooring, fresh paint, windows, and fixturesthe property offers modern appeal and reduced turnover risk. Additional income is generated through an on site laundry facility, and a separate office building with storage provides valuable operational flexibility. Major capital improvements include new metal roofs, upgraded electrical panels, and multiple HVAC and water heater replacements, minimizing near term CapEx exposure. Steady occupancy and an assumable $4.57M, 3.75% fixed rate non recourse loan enhance the investment's strength in today's lending environment. Positioned near major retailers, schools, employment centers, and within minutes of Panama City Beach, the property sits in a high demand rental corridor with long term growth potential. A recent price adjustment further improves the opportunity for investors seeking stability and upside.
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Features
Building and Construction
  • Covered Spaces: 0.00
  • Living Area: 0.00
  • Other Structures: Outbuilding, Storage
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 1823
  • Area Major: 02 - Bay County - Central
  • Occupant Type: Occupied
  • Parcel Number: 23388-000-000 & 23389-000-000
  • Possible Use: MultiFamily
  • The Range: 0.00
  • Views: 41
Nearby Subdivisions
[no Recorded Subdiv]   Bayview Add   Caroline Add Unit 2   No Named Subdivision   Pine-lea 3rd Add   Segler   Skyland   St Andrews Harbour   Thompson  
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Details for 240 Harmon Avenue, Panama City, FL 32401
$6,197,500.00 ($208.00 / sqft )

240 Harmon Avenue More Like This

This exceptional 34 unit waterfront community, complete with a 22 slip marina, is now offered at a newly adjusted price, creating an even stronger value proposition for investors. In addition to its c

  1. Request Information
  1. Approx. 29796 sqft
  2. Approx. 1.05 acres
  1. MLSID: 782380
  2. Provided by Luxe Coastal Realty Group LLC
  3. Provided through
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