240 Harmon Avenue, Panama City, FL 32401
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Priced at Only: $6,700,000
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Address: 240 Harmon Avenue, Panama City, FL 32401
Property Location and Similar Properties
- MLS#: 769961 ( CommercialSale )
- Street Address: 240 Harmon Avenue
- Viewed: 17
- Price: $6,700,000
- Price sqft: $225
- Waterfront: Yes
- Wateraccess: Yes
- Waterfront Type: Bayou,GulfAccess
- Year Built: 1966
- Bldg sqft: 29796
- Days On Market: 48
- Additional Information
- Geolocation: 30.1504 / -85.6568
- County: BAY
- City: Panama City
- Zipcode: 32401
- Subdivision: [no Recorded Subdiv]
- Elementary School: Cherry Street
- Middle School: Jinks
- High School: Bay
- Provided by: Luxe Coastal Realty Group LLC
- DMCA Notice
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DescriptionDiscover an exceptional investment opportunity with this fully renovated, multifamily apartment community situated on a prime waterfront location. Boasting 34 units, this property seamlessly integrates residential living with marina access, featuring a 22 slip marina ideal for water enthusiasts. The community offers a diverse mix of unit configurations, including 12 one bedroom units, each 650 sq. ft., and 22 two bedroom units, each 920 sq. ft., designed for comfortable, modern living. Recent renovations in 2020 have transformed 22 of these units down to the ''studs,'' bringing them up to contemporary standards with high quality finishes. New roofs and mechanicals provide peace of mind, while stainless appliances and composite floors enhance the style and functionality of each living space. Every unit features new interior sheet rock, insulation, siding, windows, and doors, all compliant with the 2019 Miami / Dade FL Building Code. Currently 100% occupied, the property is a beacon of stability and profit potential. With $4.4 million in fixed rate 3.75% assumable, non recourse financing available, this is a rare chance to secure a prime asset in a sought after location with immediate cash flow. Don't miss the opportunity to own this unique, garden style apartment community that combines luxury living with waterfront charm.
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Features
Building and Construction
- Covered Spaces: 0.00
- Living Area: 0.00
School Information
- High School: Bay
- Middle School: Jinks
- 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: DAVIS PLAT LOTS 1, 2, 3 & PACL LYING BETWEEN LOT 1 & MASSELINA BAYOU. BLK 5 ORB 4148 P 69 AND PART OF VACATED BLUFF ST R/W . ORD# 2688 ORB 4163 P 171
- Levels: Two
- Area Major: 02 - Bay County - Central
- Occupant Type: Occupied
- Parcel Number: 20213-000-000
- Possible Use: Commercial
- The Range: 0.00
- View: Bayou
- Views: 17
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