116 Springfield Avenue, Panama City, FL 32401

Panama City
Local realty services provided by:ERA Neubauer Real Estate, Inc.
116 Springfield Avenue,Panama City, FL 32401
$608,000
  • 6 Beds
  • 6 Baths
  • 2,907 sq. ft.
  • Multi-family
  • Active
Listed by: heather fox
Office: beachy beach real estate
MLS#:790574
Source:FL_BCMLS

Price summary

  • Price:$608,000
  • Price per sq. ft.:$209.15

About this home

Welcome to a turnkey income-producing investment opportunity designed for ease, efficiency, and long-term value. Remodeled in 2021, this unique property features six detached single-family units, each offering one bedroom, one spacious bathroom, a comfortable living area, with a functional kitchen. Fully occupied and currently generating $63,900 in annual gross rental income, this property offers immediate cash flow with rent rolls available for review. Each unit was thoughtfully updated in 2021 with major improvements including 30-year dimensional shingle roofs, energy-efficient windows, updated electrical wiring, fresh sheetrock, interior paint, luxury vinyl plank flooring, new kitchen cabinetry, and updated countertops. For streamlined management, each unit is individually metered for both water and electricity, helping simplify operations and reduce owner responsibility. With six separate dwellings, modernized systems, and established rental income already in place, this...

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Home facts

  • Year built:1952
  • Subdivision & Development:No Named Subdivision
  • Listing ID #:790574
  • Added:75 day(s) ago
  • Updated:August 13, 2026 at 02:32 PM

Rooms and interior

  • Bedrooms:6
  • Total bathrooms:6
  • Full bathrooms:6
  • Rooms Total:6
  • Kitchen Description:Electric Cook Top, Electric Oven
  • Living area:2,907 sq. ft.

Heating and cooling

  • Cooling:WindowUnits

Structure and exterior

  • Roof:Shingle
  • Year built:1952
  • Building area:2,907 sq. ft.
  • Lot area:0.31 Acres
  • Construction Materials:Block
  • Exterior Features:Porch
  • Foundation Description:Slab

Schools

  • High school:Rutherford
  • Middle school:Rutherford Middle
  • Elementary school:Cherry Street

Utilities

  • Sewer:Public Sewer

Finances and disclosures

  • Price:$608,000
  • Price per sq. ft.:$209.15
  • Tax amount:$8,434 (2025)

Features and amenities

  • Amenities:ElectricCooktop, ElectricOven
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