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    2602 Willow Oak Ct Panama City, FL 32408

    Sponsored
    For Sale
    $990,000

    Six-unit, high-yield investment opportunity.

    Property size:
    3,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional six-unit apartment building in Panama City, Florida, presents a compelling investment opportunity. Constructed in 2020, the property boasts a total of 3,000 square feet and features three distinct one-bedroom, one-bathroom unit layouts. Two units offer 400 square feet with kitchenettes, two provide 500 square feet with kitchenettes and living rooms, and the remaining two units encompass 600 square feet, each including a full kitchen and living room. Currently 100% occupied, the property generates a substantial net operating income (NOI) of $78,954, resulting in an attractive 7.98% capitalization rate. The asking price is $990,000, translating to $165,000 per unit and $330 per square foot. Convenient amenities include individual unit entrances, a shared laundry facility, and a private central garden. The property's location offers proximity to award-winning beaches. Attractive seller financing is available, featuring an 85% loan-to-value ratio, 7% interest, 35-year amortization, and a 5-year balloon payment. The average rent per unit is $1,567, significantly below market rates, suggesting strong potential for future rental income growth. This property is available for sale individually or as part of a larger portfolio. The address is 2602 Willow Oak Ct, Panama City, FL 32408.

    Property Features for 2602 Willow Oak Ct

    General Information

    Property type
    Multifamily properties
    Square Feet
    3,000 SF
    Class
    B

    Building Details

    Units
    6

    HighLights

    • Attractive financing terms available: 85% LTV, 7% interest, 35‑year amortization, 5‑year balloon payment.
    • Newly constructed in 2020.
    • Six‑unit apartment building, 100% occupied with an average rent of $1,567 per unit, below market rates.
    • Exceptional location, walking distance to award‑winning beaches.
    • Offered for sale individually or as part of a larger portfolio.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Panama City
    County
    Bay
    State
    Florida
    Longitude
    -85.766617099102
    Latitude
    30.167751782225

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    FAQs

    What type of property is this?
    Multifamily property - Six-unit, high-yield investment opportunity.
    Where is this multifamily property located?
    The property is located at 2602 Willow Oak Ct Panama City, FL.
    What is the asking price?
    The asking price for this property is $990,000.
    What are key features of this property?
    This property features: Attractive financing terms available: 85% LTV, 7% interest, 35-year amortization, 5-year balloon payment.; Newly constructed in 2020.; Six-unit apartment building, 100% occupied with an average rent of $1,567 per unit, below market rates.
    Request Owner's contact information
    2602 Willow Oak Ct Panama City, FL 32408
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    Panama City, FL 32408
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2602 Willow Oak Ct Panama City, FL 32408
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