119 College Avenue

Panama City, FL 32401

$769,000
Price
15
Beds
9
Baths
5,222 Sq. Ft.
$147 / Sq. Ft.
5,222
Sq. Ft.
$147
per Sq. Ft.

Description

Welcome to 119 College Ave., a property that presents an incredible investment opportunity with stable income generation from 6 rental units in a well-maintained and newly remodeled setting. All 6 units generate approximately $85,800 in gross annual income. This property is nestled on a large corner lot (.4 acres) and does not require flood insurance as it is in 'X'' flood zone. All buildings have newer 30-year dimensional shingle roofs that were installed in 2019. The primary rental house, consisting...Welcome to 119 College Ave., a property that presents an incredible investment opportunity with stable income generation from 6 rental units in a well-maintained and newly remodeled setting. All 6 units generate approximately $85,800 in gross annual income. This property is nestled on a large corner lot (.4 acres) and does not require flood insurance as it is in 'X'' flood zone. All buildings have newer 30-year dimensional shingle roofs that were installed in 2019. The primary rental house, consisting of 3 rental units (8 bedrooms and 5 bathrooms), has undergone a comprehensive remodel and was taken down to the studs and built back up with the finest attention to detail. It boasts a large front porch, three new HVAC units, and new kitchens equipped with brand-new appliances. On the lower level of the property, you will find a 3-bedroom, 2-bathroom split floor plan unit (Unit 2) with new luxury vinyl plank (LVP) flooring throughout and a large living room, perfect for comfortable living and entertaining. Unit 2 is rented currently for $1450 per month. Head upstairs and you will find another spacious 3-bedroom, 2-bathroom unit (Unit 1, $1325/month). This unit includes a separate entrance for the master bedroom and ensuite bath, an oversized laundry room, new LVP flooring, new kitchen and bathrooms, and two living areas. The primary house also has an attached apartment towards the back consisting of another rental unit with 2 bedrooms and 1 bathroom (Unit 3, $1000/month). Additionally, the building to the south of the primary house (Unit 7) is another rental unit consisting of 3 bedrooms, 2 bathrooms, and a utility/storage area ($1300/month). The two detached properties towards the west of this multi-family estate are both 2-bedroom and 1-bath rental units (Unit 5, $1100/month and Unit 6, $975/month). Unit 6 has also been extensively remodeled. This is your opportunity to expand your rental portfolio and add 6 income producing units for a total of 15 bedrooms and 9 bathrooms. This property has a great return on investment, and all rental units are professionally managed by ERA Property Management. Make sure you check out the unit floor plans in the 'Documents' tab and under photos and schedule your private viewing today!
  1. Listed by Kaci A Hawes • ERA Neubauer Real Estate, Inc
  2. Listed by Heather H Neubauer • ERA Neubauer Real Estate Inc

Property Details for 119 College Avenue

Waterfront
No
Subdivision Name
[No Recorded Subdiv]
Zoning Description
Resid Multi-Family
LISTING UPDATED: 11/08/2024 04:16 PM

Property Details for 119 College Avenue

StatusActive
MLS #758986
Days on Market155
Taxes$2,910 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential / Multi Family / Multi Family
Year Built1925
Lot Size0.41 AC / 17,859 SF
CountyBay County

Building Information for 119 College Avenue

Stories-Residences-Year Built1925Building Size-Lot Size0.41 AC / 17,859 SF

Property Information for 119 College Avenue

Summary
Location and General Information
  • City: Panama City
  • County Or Parish: Bay
  • Directions: From Bay Medical Center (Ascension Sacred Heart Bay), head south on North Bonita Ave for approx. .2 miles and turn left on Bus-US 98. In approx. 1 mile, take a right onto Sherman Ave. Proceed .2 miles and then take a left on E 3rd St. Proceed .2 miles and take a right onto College Ave. Buildings will be on the corner lot on the right.
  • Road Surface Type: Paved
  • Postal Code: 32401
  • Latitude: 30.150194
  • Longitude: -85.631374
  • State Or Province: FL
  • Road Frontage Type: City Street
  • MLS Area Major: 02 - Bay County - Central
  • MLS Area Minor: 0202 - Bay - Central SE
Taxes and HOA Information
  • Parcel Number: 22946-000-000
  • Association: No
  • Tax Annual Amount: $2,910.00
  • Tax Legal Description: HOLMES ADD N 120' OF LOT 1 BLK 19 LESS 20' FOR RD ORB 4353 P 2306(Reference Warranty Deed for Full Legal Description)
  • Tax Year: 2023
School Information
  • Elementary School: Cherry Street
  • High School: Bay
  • Middle Or Junior School: Jinks
Parking
  • Garage: No
Property
Lot Information
  • Lot Features: Corner Lot
  • Lot Size Acres: 0.41
  • Lot Size Dimensions: 179x120x179x120
  • Lot Size Square Feet: 17860.0
  • Living Area: 5222.0
  • Living Area Source: Appraiser
Property and Assessments
  • Year Built: 1925
  • Human Modified: No
Utilities
  • Utilities: Electricity Connected, Water Connected
Interior and Exterior Features
Exterior Features
  • Exterior Features: Balcony, Deck
  • Community Features: Short Term Rental Allowed
  • Construction Materials: Vinyl Siding
  • Patio And Porch Features: Balcony, Covered, Deck, Porch
  • Roof: Shingle
Interior Features
  • Entry Level: 1
  • Bathrooms Full: 9
  • Bathrooms Total: 9
  • Bedrooms Total: 15
  • Cooling: Yes
  • Cooling: Central Air, Electric, Multi Units
  • Heating: Yes
  • Heating: Electric
  • Furnished: Unfurnished
  • Appliances: Dishwasher, Electric Cooktop, Electric Oven, Electric Water Heater, Disposal, Microwave, Refrigerator
  • Interior Features: High Ceilings, Vaulted Ceilings
Room Information
Room 1
  • Room Area: 74.4
  • Room Description: Unit 7; Measurements are not exact; Buyer to verfi
  • Room Dimensions: 9.3 x 8
  • Room Length: 9.3
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 8.0
Room 2
  • Room Area: 88.4
  • Room Description: Unit 7; Measurements are not exact; Buyer to verfi
  • Room Dimensions: 10.4 x 8.5
  • Room Length: 10.4
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 8.5
Room 3
  • Room Area: 70.55
  • Room Description: Unit 7; Measurements are not exact; Buyer to verfi
  • Room Dimensions: 8.3 x 8.5
  • Room Length: 8.3
  • Room Level: First
  • Room Type: Primary Bedroom
  • Room Width: 8.5
Room 4
  • Room Area: 120.28
  • Room Description: Unit 6; Measurements are not exact; Buyer to verfi
  • Room Dimensions: 12.4 x 9.7
  • Room Length: 12.4
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 9.7
Room 5
  • Room Area: 101.12
  • Room Description: Unit 6; Measurements are not exact; Buyer to verfi
  • Room Dimensions: 9.11 x 11.1
  • Room Length: 9.11
  • Room Level: First
  • Room Type: Primary Bedroom
  • Room Width: 11.1
Room 6
  • Room Area: 99.91
  • Room Description: Unit 5; Measurements are not exact; Buyer to verfi
  • Room Dimensions: 10.3 x 9.7
  • Room Length: 10.3
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 9.7
Room 7
  • Room Area: 113.49
  • Room Description: Unit 5; Measurements are not exact; Buyer to verfi
  • Room Dimensions: 9.7 x 11.7
  • Room Length: 9.7
  • Room Level: First
  • Room Type: Primary Bedroom
  • Room Width: 11.7
Room 8
  • Room Area: 96.72
  • Room Description: Unit 3; Measurements are not exact; Buyer to verfi
  • Room Dimensions: 7.8 x 12.4
  • Room Length: 7.8
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 12.4
Room 9
  • Room Area: 88.16
  • Room Description: Unit 3; Measurements are not exact; Buyer to verfi
  • Room Dimensions: 7.11 x 12.4
  • Room Length: 7.11
  • Room Level: First
  • Room Type: Primary Bedroom
  • Room Width: 12.4
Room 10
  • Room Area: 86.4
  • Room Description: Unit 2; Measurements are not exact; Buyer to verfi
  • Room Dimensions: 8 x 10.8
  • Room Length: 8.0
  • Room Level: Second
  • Room Type: Bedroom
  • Room Width: 10.8
Room 11
  • Room Area: 230.58
  • Room Description: Unit 2; Measurements are not exact; Buyer to verfi
  • Room Dimensions: 12.2 x 18.9
  • Room Length: 12.2
  • Room Level: Second
  • Room Type: Bedroom
  • Room Width: 18.9
Room 12
  • Room Area: 128.1
  • Room Description: Unit 2; Measurements are not exact; Buyer to verfi
  • Room Dimensions: 12.2 x 10.5
  • Room Length: 12.2
  • Room Level: Second
  • Room Type: Primary Bedroom
  • Room Width: 10.5
Room 13
  • Room Area: 77.35
  • Room Description: Unit 1; Measurements are not exact; Buyer to verfi
  • Room Dimensions: 8.5 x 9.1
  • Room Length: 8.5
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 9.1
Room 14
  • Room Area: 78.2
  • Room Description: Unit 1; Measurements are not exact; Buyer to verfi
  • Room Dimensions: 8.5 x 9.2
  • Room Length: 8.5
  • Room Level: First
  • Room Type: Bedroom
  • Room Width: 9.2
Room 15
  • Room Area: 235.72
  • Room Description: Unit 1; Measurements are not exact; Buyer to verfi
  • Room Dimensions: 15.11 x 15.6
  • Room Length: 15.11
  • Room Level: First
  • Room Type: Primary Bedroom
  • Room Width: 15.6
Rental
Rental Information
  • Occupant Type: Occupied
  • Lease Term: Other

Property History for 119 College Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 119 College Avenue

Taxable ValueLand$31,800Additions$146,990Total$178,790
Tax Record2023$2,910 ($243 / month)
Home Facts
Total Finished SqFt3,110 SqFtAbove Grade Finished SqFt3,110 SqFtStories2Lot Size17,860 SqFtStyleMulti-Family Dwelling (2-4)Year Built1925Year Renovated1975CountyBAYAPN22946-000-000

Schools near 119 College Avenue

This home is within Bay.
Rating
School
Type
Grades
Distance
Merriam Cherry Street Elementary School
Public - PK to 5
Jinks Middle School
Public - 6 to 8
Bay High School
Public - 9 to 12
Margaret K. Lewis In Millville
Public - PK to 12
Rating
School
Distance
Merriam Cherry Street Elementary School
PublicPK to 5

Jinks Middle School
Public6 to 8

Bay High School
Public9 to 12

Margaret K. Lewis In Millville
PublicPK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 119 College Avenue, Panama City, FL 32401

119 College Avenue is a multi-family home for sale in Panama City, FL 32401. This property was listed for sale on June 21, 2024 by ERA Neubauer Real Estate, Inc, it's currently listed at $769,000. It has been on the market for a total of 155 days and was last sold on January 20, 2021. This listing's school district is Bay. Nearby schools include Merriam Cherry Street Elementary School, Jinks Middle School and Bay High School. 119 College Avenue is a 15-bed, 9-bath, 5,222 sqft multi-family home built in 1925.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of ERA Neubauer Real Estate, Inc; ERA Neubauer Real Estate Inc

The data relating to real estate for sale/lease on this web site come in part from a cooperative data exchange program of the Emerald Coast Association of REALTORS, Central Panhandle Association of REALTORS, Pensacola Association of REALTORS and Capital Area Technology & REALTOR Services. The properties displayed may not be all of the properties in the MLS's database, or all of the properties listed with Brokers participating in the cooperative data exchange program. Information deemed reliable but not guaranteed. Copyright© 2024 Emerald Coast Association of REALTORS, Central Panhandle Association of REALTORS, Pensacola Association of REALTORS and Capital Area Technology & REALTOR Services. All Rights Reserved.