2605 Redwood Street, Panama City Beach, FL 32408
MULTI_FAMILY - Panama City Beach, FL
- Added:
- Feb 10, 2026
- Days on Market:
- 120
- Last Refresh:
- Jun 10 at 4:06 am
Property Features for 2605 Redwood Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Standard status
- Active
- APN
- 31054-000-000
- Size
- 4,432 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Description
- TREASURE COVE LOT 6 BLK 11 ORB 2074 P 941
Building Details
- Year built
- 1978
- Building materials
- Block, Concrete, VinylSiding
- Roof type
- Composition, Shingle
Listing agent Oscar D Forero License #SL3636248 (850) 319-4106
Listing office Coldwell Banker Realty 726 Thomas Drive Suite A, Panama City Beach, FL (850) 234-6696
Listing date Feb 10, 2026
Copyright © 2026 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.
HighLights
- Fully leased, turnkey duplex with four renovated units, providing immediate and reliable cash flow.
- Desirable unit mix of spacious 3‑bedroom and 2‑bedroom apartments, each with 1‑1/2 bathrooms.
- Recent capital improvements including a relatively new A/C unit, roof replacement (2019), partial siding replacement, and newly installed septic tank.
- All apartments have been renovated with new flooring, new kitchens, and energy‑saving appliances.
- Minimal deferred maintenance, reducing operational risk and enhancing property value.
- Construction materials include block, concrete, and vinyl siding.
Overview
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $71.8k | $16.20 |
| − Vacancy | −$4.4k | −$1.00 |
| EGI | $67.4k | $15.20 |
| − OpEx | −$20.2k | −$4.56 |
| NOI | $47.2k | $10.64 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Panama City Beach
- County
- Bay
- State
- Florida
- Longitude
- -85.754018
- Latitude
- 30.157114
