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2605 Redwood Street
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PRICED AT ONLY: $1,010,000

Address: 2605 Redwood Street, Panama City, FL 32408

Description

Start 2026 with a strong, stabilized income property at 2605 Redwood Street, a well maintained duplex consisting of two separate buildings, each featuring two apartments for a total of four units. This turnkey asset is fully leased and positioned to deliver immediate and reliable cash flow. The property offers a desirable unit mix of spacious 3 bedroom and 2 bedroom apartments, each with 1 1/2 bathroom. All apartments have been renovated, with new flooring throughout, new kitchen, an Energy saving appliances. appealing to long term tenants and supporting consistent occupancy. All apartments have been recently renovated, with new flooring throw out, new kitchen with Energy saving appliances. 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.
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  • MLS#: 785104 ( CommercialSale )
  • Street Address: 2605 Redwood Street
  • Viewed: 3
  • Price: $1,010,000
  • Price sqft: $228
  • Waterfront: No
  • Year Built: 1978
  • Bldg sqft: 4432
  • Days On Market: 19
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Features
Building and Construction
  • Covered Spaces: 0.00
  • Living Area: 0.00
  • Roof: Composition, Shingle
School Information
  • High School: Arnold
  • Middle School: Surfside
  • School Elementary: Patronis
Garage and Parking
  • Garage Spaces: 0.00
  • Open Parking Spaces: 0.00
  • Parking Features: Paved
Eco-Communities
  • Water Source: CommunityCoop
Utilities
  • Carport Spaces: 0.00
  • Utilities: WaterAvailable
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: TREASURE COVE LOT 6 BLK 11 ORB 2074 P 941
  • Area Major: 03 - Bay County - Beach
  • Occupant Type: Occupied
  • Parcel Number: 31054-000-000
  • Possible Use: Commercial
  • The Range: 0.00
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