3510/ 3536 Saint John Street, Panama City, FL 32401

Property Description

PRICE IMPROVEMENT - NOW OFFERED AT $6.2 MILLION. This stabilized 50-unit garden-style apartment community presents an exceptional opportunity to acquire a well-maintained, income-producing asset with significant recent capital improvements and long-term upside. The property features a highly desirable unit mix of 8 one-bedroom, 20 two-bedroom, 12 three-bedroom, and 10 four-bedroom apartments, with 42 units renovated since 2020, showcasing updated flooring, fresh paint, windows, and modern fixtures. Ownership has invested heavily in the property's infrastructure, including new metal roofs, upgraded electrical panels, and numerous HVAC and water heater replacements, minimizing near-term capital expenditures. Additional revenue is generated through an on-site laundry facility, while a separate office building with storage provides efficient on-site management and operational support. The community maintains consistently strong occupancy and is further enhanced by an assumable $4.57 million fixed-rate, 3.75% non-recourse loan (subject to lender approval), providing a significant financing advantage in today's interest rate environment. Ideally located near major employers, schools, shopping, dining, and just minutes from Panama City Beach, the property benefits from strong rental demand in one of Northwest Florida's fastest-growing markets. Now priced at $6.2 million, this is a compelling opportunity for investors seeking immediate cash flow, operational stability, favorable financing, and future growth potential.