$1,250,000
$1,390,000
10.1%For more information regarding the value of a property, please contact us for a free consultation.
20 Beds
10 Baths
8,310 SqFt
SOLD DATE : 10/16/2024
Key Details
Sold Price $1,250,000
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 8,310 sqft
Price per Sqft $150
Subdivision No Named Subdivision
MLS Listing ID 759896
Sold Date 10/16/24
Bedrooms 20
Full Baths 10
HOA Y/N No
Year Built 1986
Annual Tax Amount $598
Tax Year 2023
Lot Size 0.360 Acres
Acres 0.36
Property Description
Situated at 1000 Transmitter Rd, this property unveils a compelling investment opportunity featuring ten extensively renovated two-bedroom, one-bathroom units, each approved for Section 8 rentals at an attractive rate of $1300 per unit. Boasting contemporary amenities, including full-sized kitchens, washer and dryer hookups, separate metering, a 2019-permitted roof, 2020 water heaters, 2020 HVAC (excluding condensers), a new deck, updated sewer lines, wiring, and a refurbished parking lot with ample tenant parking, these 830 sqft units epitomize modern living. Nestled in the heart of Bay County, Florida, the city of Panama City has experienced a remarkable population surge, reaching 36,775 residents in 2023--a 12.27% increase since the 2020 census. With an annual growth rate of 3.93%, Panama City stands as a testament to economic resilience, offering compelling prospects for both residents and businesses. The city's average household income of $70,585 fosters financial well-being in the community. Additionally, the recent boost in military construction funding for Tyndall Air Force Base, reaching an impressive $3.4 billion, not only marks a pivotal moment in the base's recovery from Hurricane Michael but is expected to drive job growth and housing demand in the surrounding area, painting a promising economic landscape. As Tyndall AFB transforms into an ''installation of the future,'' this property at 1000 Transmitter Rd becomes not just a home but a strategic investment within a thriving community poised for economic revitalization. Parcels include 15029-085-000, 15029-085-001, & 15029-085-002
Location
State FL
County Bay
Community Short Term Rental Allowed
Area 02 - Bay County - Central
Interior
Furnishings Unfurnished
Fireplace No
Exterior
Community Features Short Term Rental Allowed
Utilities Available Electricity Connected, Trash Collection
Accessibility Common Area
Schools
Elementary Schools Parker
Middle Schools Rutherford Middle
High Schools Rutherford
Others
Tax ID 15029-085-000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Other
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