Love Life
2605 Redwood Street, Panama City Beach, FL 32408
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  • MLS#: 785031 ( Residential )
  • Street Address: 2605 Redwood Street
  • Viewed: 12
  • Price: $1,010,000
  • Price sqft: $228
  • Waterfront: No
  • Year Built: 1978
  • Bldg sqft: 4432
  • Bedrooms: 10
  • Total Baths: 8
  • Full Baths: 4
  • 1/2 Baths: 4
  • Days On Market: 19
  • Additional Information
  • Geolocation: 30.1571 / -85.754
  • County: BAY
  • City: Panama City Beach
  • Zipcode: 32408
  • Subdivision: Treasure Cove
  • Elementary School: Patronis
  • Middle School: Surfside
  • High School: Arnold
  • Provided by: Coldwell Banker Realty
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  • 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 bathrooms. All apartments have been renovated with new kitchen, new flooring throughout, and Energy saving appliances. appealing to long term tenants and supporting consistent occupancy. All apartments have been recently renovated. 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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Features
Building and Construction
  • Covered Spaces: 0.00
  • Exterior Features: Patio
  • Fencing: Fenced
  • Living Area: 0.00
  • Roof: Composition, Shingle
Land Information
  • Lot Features: Paved
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: NoGarage
Eco-Communities
  • Green Energy Efficient: Appliances
Utilities
  • Carport Spaces: 0.00
  • Cooling: CentralAir
  • Heating: Central
  • Road Frontage Type: CityStreet
  • Sewer: PublicSewer
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
  • Tax Year: 2025
  • Trash Expense: 0.00
Other Features
  • Appliances: EnergyStarQualifiedAppliances, ElectricOven
  • 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
  • Style: Duplex
  • The Range: 0.00
  • Views: 12
Headshot for Associate Dennis Dial
  1. The Dial Team
  2. Tropic Shores Realty
  3. Love Life
  4. Mobile: 561.201.4476
  5. dennisdialsells@gmail.com