Turnkey Income Property in
2605 Redwood Street, Panama City Beach, FL 32408
MULTI_FAMILY - Other - Panama City Beach, FL
Property size:
4,432 SFLot size:
0.19 AcresPrice / SF:
$191/SF- Added:
- Feb 9, 2026
- Days on Market:
- 94
- Last Refresh:
- May 14 at 7:06 pm
Property Features for 2605 Redwood Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 10
- Bathrooms
- 8
- Rooms
- Bathroom 6, Bedroom 5, Bedroom 7, Bedroom 2, Bathroom 4, Bedroom 9, Bedroom 6, Bedroom 4, Bedroom 1, Bedroom 8, Bedroom 10, Bathroom 2, Bathroom 7, Bedroom 3, Bathroom 5, Bathroom 1, Bathroom 3, Bathroom 8
- Parking features
- Garage
- Patio and Porch features
- Patio
- Exterior features
- Patio
- Fencing
- Fenced
- Appliances
- EnergyStarQualifiedAppliances, ElectricOven
- Standard status
- Active
- APN
- 31054-000-000
- Size
- 4,432 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- TREASURE COVE LOT 6 BLK 11 ORB 2074 P 941
- Tax Annual Amount
- 4271
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Cooling system
- Central Air
Building Details
- Year built
- 1978
- Building materials
- Block, Concrete, VinylSiding
- Roof type
- Shingle, Composition
- Architectural style
- Other
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 9, 2026
MLS# 785031
Listing URL
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
- Stabilized income property with an estimated $70,000 Net Operating Income and a 7% cap rate.
- Turnkey asset with four fully leased units, providing immediate and reliable cash flow.
- Recent renovations include new kitchens, flooring, and energy‑saving appliances in all apartments.
- Significant capital improvements, including a roof replaced in 2019, a new septic tank, and a relatively new A/C unit (less than 4 years old).
- Desirable unit mix of spacious 3‑bedroom and 2‑bedroom apartments, each with 1 1/2 bathrooms.
- Minimal deferred maintenance, reducing near‑term operational risk.
Overview
This well-maintained duplex at 2605 Redwood Street features two separate buildings, each containing 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 desirable unit mix of spacious 3-bedroom and 2-bedroom apartments, each with 1 1/2 bathrooms. All apartments have been renovated with new kitchens, new flooring throughout, 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 and the lot size is 0.19 acres.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Panama City Beach
- County
- Bay
- State
- Florida
- Longitude
- -85.753988
- Latitude
- 30.1571233
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Stabilized, fully leased duplex with strong income and recent upgrades.
Where is this quadplex located?
The property is located at 2605 Redwood Street Panama City Beach, FL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Stabilized income property with an estimated $70,000 Net Operating Income and a 7% cap rate.; Turnkey asset with four fully leased units, providing immediate and reliable cash flow.; Recent renovations include **new kitchens, flooring, and energy‑saving appliances** in all apartments.
