3533 US-98 Panama City, FL 32401

This 14-unit multifamily property has been completely revitalized and treated as effectively new as of 2021. The community consists of studio units, each approximately 280 square feet, and each unit was fully updated in 2021 with brand-new electrical wiring, sewer and water lines, windows and doors, drywall, trusses, and a roof. The property is currently reported as fully occupied with consistent rental income. The site provides 15 parking spaces for tenants and guests.

The property is located at 3533 US-98 in Panama City, Florida (Bay County) and sits on approximately 0.2 acres. The listing indicates the property is currently under contract and the seller will consider backup offers. A rent roll and financials are available upon request.

For buyers seeking a turnkey, low-renovation-hold asset, the scope of 2021 improvements covers both unit finishes and key building systems, including updated utilities and roofing. With the property described as fully occupied at the time of listing, it may appeal to investors looking for immediate income rather than a value-add redevelopment. The seller also cites an approximately 10% cap rate, based on available performance information provided through the rent roll and financials request.