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$ 6,197,500
Est. payment /mo
Pending
240 Harmon AVE Panama City, FL 32401
29,796 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
Square Footage 29,796 sqft
Price per Sqft $207
Subdivision [No Recorded Subdiv]
MLS Listing ID 782380
HOA Y/N No
Year Built 1966
Lot Size 1.050 Acres
Acres 1.05
Property Sub-Type Multi Family
Property Description
UNDER CONTRACT. SELLER WILL CONSIDER BACK UP OFFERS. 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 comprehensive renovations and prime waterfront amenities, the property includes an income-generating on-site laundry facility and a low-maintenance marina that produces steady net revenue, further strengthening the asset's operational performance.
With 22 units fully renovated down to the studs in 2020, upgraded mechanicals, new roofs, contemporary interiors, and a history of consistently high occupancy, this community offers both stability and long-term growth potential. Positioned within the heart of Downtown Panama City's ongoing revitalization--featuring upgraded streetscapes, improved walkability, and renewed waterfront development--this asset remains one of the most compelling opportunities in the market. The pricing adjustment simply aligns the offering with current investor activity and enhances the property's already strong return profile.
With 22 units fully renovated down to the studs in 2020, upgraded mechanicals, new roofs, contemporary interiors, and a history of consistently high occupancy, this community offers both stability and long-term growth potential. Positioned within the heart of Downtown Panama City's ongoing revitalization--featuring upgraded streetscapes, improved walkability, and renewed waterfront development--this asset remains one of the most compelling opportunities in the market. The pricing adjustment simply aligns the offering with current investor activity and enhances the property's already strong return profile.
Location
State FL
County Bay
Area 02 - Bay County - Central
Interior
Fireplace No
Exterior
Waterfront Description Bayou,Gulf Access
Water Access Desc Bayou,Gulf Access
View Bayou
Private Pool No
Schools
Elementary Schools Cherry Street
Middle Schools Jinks
High Schools Bay
Others
Tax ID 20213-000-000
Special Listing Condition Listed As-Is
Listed by Luxe Coastal Realty Group LLC
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