2605 Redwood St Panama City Beach, FL 32408

The property at 2605 Redwood Street is a well-maintained duplex consisting of two separate buildings, each featuring two apartments, for a total of four units. This turnkey asset is fully leased and positioned to deliver immediate and reliable cash flow. The property offers a unit mix of spacious 3-bedroom and 2-bedroom apartments, each with 1-1/2 bathrooms. All apartments have been renovated, with new flooring throughout, new kitchens, and energy-saving appliances, appealing to long-term tenants and supporting consistent occupancy. Recent capital improvements significantly enhance the property's value and reduce near-term maintenance, including brand-new flooring throughout. The A/C unit is less than 4 years old, the roof was replaced in 2019, part of the siding on each building has been replaced, and a newly installed septic tank. With all apartments currently rented, the property generates an estimated Net Operating Income of $70,000 annually, offering investors an attractive 7% cap rate. The combination of strong in-place income, recent upgrades, and minimal deferred maintenance makes this an ideal acquisition for investors seeking stable returns with limited operational risk. The property size is 4432 square feet.