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Residential > Multi-family
Active
05/03/2023
List Price
$1,800,000

5802 Highway 22
Panama City, FL 32404

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  • 5802 Highway 22, Panama City, FL 32404 is a 4 bed, 2 bath, 1,479 ft² multi-family home house built in 1971 on a 2.050 acre lot. This multi-family home is currently for sale for $1,800,000, and it was last sold in 2002 for $560,000. The latest TopHap estimate of the multi-family home's value is $767,400.

    Property Valuations

    Latest estimates for 5802 Highway 22 based on TopHap automated valuation model (AVM).

    MLS Description

    The listing agent's description. Original Listing

    Here is your opportunity to purchase a 15 unit multifamily apartment complex with commercial road frontage property. This listing consists of two parcels of property. The Hwy 22 road frontage parcel is Parcel ID # 06086-010-000 which consists of .46 acre of vacant road frontage land. The second parcel is Parcel ID # 06086-000-000 which consists of 1.58 acres of land and holds 15 two bedroom one bath residential apartment units. There are currently 3 duplexes and 3 triplexes on this parcel. There are currently 7 occupied units at $1,100 per unit per month. There are several units that are in need of remodel (see photos.) At full occupancy, gross income would be $16,500 per month or higher with potential to rebuild several more units. Prior to Hurricane Michael, there were several more units on road frontage parcel. Slabs are still in place which would give potential Buyer more space for more units to be built. This property is just around the corner from Super Walmart, Starbucks, restaurants, shopping and a very short drive to Tyndall Air Force Base.

    Listing Agents

    The listing agent for 5802 Highway 22 is Daryle Burkey.

    Current Ownership

    Information about the current owner(s).

    Property History

    5802 Highway 22 has undefined property events records (listings, deeds, permits, tax, foreclosure, loan).

    Property Events

    Environment

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    School Information

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    Neighborhood

    This property is located in 32404.

    Market Trends

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    Copyright © 2024 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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