3900 17Th St Panama City, FL 32401

This exceptional multifamily investment opportunity is located in the heart of Historic St. Andrews, Florida, just two blocks from the Bay. Situated on a corner lot, this property comprises two structures: a 3,400 square foot single-family home featuring four bedrooms and 3.5 bathrooms, and a triplex with three one-bedroom, one-bathroom apartments. The single-family home includes a mother-in-law suite, offering the potential for a total of five rental units. The property boasts separate water and electric meters for each structure, simplifying management. Additional units could be constructed due to the favorable zoning and generous lot size. Amenities include a fiberglass saltwater pool, a two-car garage, and ample outdoor space suitable for recreational vehicles. The property generates a monthly rental income ranging from $5,500 to $6,500, projecting a strong capitalization rate of at least 8%. Built in 1950, this one-story building presents a compelling investment opportunity for both owner-occupants and investors. The address is 3900 W 17th St, Panama City, FL 32401. Asking price is $635,000.