The Lakes Real Estate | The Lakes Multi-Family Homes for Sale

Investment Opportunity! This is a turnkey Mobile Home Park for sale that is located in Panama City. The property features 7 mobile homes and room to add 2 more units. Four of the units are 2 bedrooms 1 bath and three of the units are 3 bedroom 2 baths. The property is currently generating 4200.00 per month. 2 of the 3/2's are 1100.00 a month and 2 of the 2/1's are 1000.00 a month. There is one 3/2 available and two 2/1 available. The property is easily accessible and is convenient to Tyndall Air Force Base and Highway 98. Whether you are an experienced Investor or just entering the mobile home park space, this property could offer long-term potential. Contact your favorite realtor today to schedule your showing.

1329 Transmitter Road, Panama City

Listing courtesy of Northwest Florida Realty, LLC.

$775,000

8 Beds ⋅ 8 Baths ⋅ 796884 MLS

Forget rental projections! This FOURPLEX generated $70,000 in rental income LAST YEAR! We're talking about FOUR fully occupied units, long-term tenants who've been here for over 5 years, and a prime Panama City Beach location directly across from the Navy base and just minutes from the beach. And here's the BONUS... an additional approx. 0.274-acre parcel of land is INCLUDED in the price! Now THAT'S what I call an investment opportunity! Search on YouTube ''7308 Kingman St | $70K Rental Income Fourplex + Extra Land | Panama City Beach FL'' for video tour. Welcome to 7308 Kingman Street, an income-producing fourplex offering immediate rental income with room for future growth! The property consists of four separate townhome-style units, each featuring 2 bedrooms and 1.5 bathrooms. All four units are currently occupied, providing an established rental history without the need to start from scratch finding tenants. The property has a new roof installed in 2018, and one of the HVAC systems was replaced in 2025. New Drain Field $15k installed recently. With long-term tenants already in place and the potential to increase rents over time, this property offers an opportunity for investors looking to grow their rental income. But what really sets this investment apart is the additional approx. 0.274-acre parcel included in the sale! Whether you're considering future development, expansion, or simply holding the land as a separate asset, this extra parcel adds another layer of potential. A property survey is available for review. Location is another major advantage! Situated directly across from Naval Support Activity Panama City and just minutes from the beautiful beaches of Panama City Beach, shopping, grocery stores, restaurants, and everyday conveniences, this property is positioned in an area with multiple sources of rental demand. Four income-producing units, $70,000 in last year's rental income, established tenants, and an additional parcel of land, all in one purchase! Opportunities like this are worth a closer look. Contact us today for additional financial information, the survey, or to schedule a private showing.

7308 Kingman Street, Panama City Beach

Listing courtesy of Dalton Wade Inc.

$120,000

2 Beds ⋅ 1 Baths ⋅ 215274 MLS

Opportunity awaits! This duplex was currently undergoing renovations and offers a chance to bring your vision to the finishing touches. The property remains in a partially finished condition, making it an option for investors or buyers prepared to take on a renovation project. Explore the potential with two rental units or live in one side and rent the other one renovations are complete. Bring your ideas and help shape this property's next chapter.

1500 Lafayette St, Birmingham

Listing courtesy of eXp Realty LLC Landmark Real Estate.

3707 Mystic Street Unit A-B, Panama City Beach

$599,900

5 Beds ⋅ 3 Baths ⋅ 796274 MLS

Picture this: it's 7 a.m., coffee in hand, and you're strolling across the street to watch the sun come up over the Grand Lagoon. Your boat is in the water from the public ramp one block away before the charter crowd wakes up. By lunch you're toes-in-the-sand at Gulf beach access #11, about half a mile from your door. By sunset you're on the deck at Schooners, about 1.5 miles away. And while you're living the dream, two homes are quietly working for you. That's what 3707 Mystic Street is: a beach lifestyle that pays its own way. This duplex lives like two separate homes, with two private entries, two separate parking areas and each unit's own patio, so neighbors and guests never feel like they're sharing. Mystic Surf (Unit A) is the guest favorite, with three king bedrooms plus a twin and trundle that sleep eight, surf murals in every bedroom, a kitchen big enough for the whole crew, a cozy electric fireplace and a storage shed for the kayaks and paddleboards. Mystic Sun (Unit B) is the hideaway, with two king suites, a full kitchen, a real wood-burning fireplace for those cool December nights and its own shed. For the second-home buyer, this is the beach house that doesn't sit empty. Keep one side as your private getaway, with its own entry, parking and patio. Rent the other side to guests and let them help cover your costs. Come down whenever you want, lock the door when you leave, and let the income keep rolling in. For the investor, this is two income streams on one turnkey property that's already operating as a vacation rental. There's no HOA and nothing to fix, short-term rentals are allowed, and you have the flexibility to run each unit however the market tells you to. For the buyer hunting for multifamily close to the beach, this is the one that's hard to find. Small multifamily properties this close to both the Gulf and the lagoon rarely come up, especially with true separation between units, a corner lot and room to grow. There's space for boat parking, so your boat lives right at home one block from the ramp. There's also room to add a hot tub, the kind of upgrade guests search for and happily pay more for. Everything worth doing is close. The Grand Lagoon marinas and charter fleets are 1 to 2 miles away. The trails and snorkeling at St. Andrews State Park are about 2 miles away. A cold one at Buster's Beer & Bait is an easy walk, and Pier Park is roughly 9 miles away. Now let's talk numbers. Both units have produced 2026 - $74,996 Gross and 2025 - $73,356 Gross There's no HOA fee eating into your returns, and both units are already up and running, so there's no setup period and no waiting for your first booking. Keep both on the short-term market for maximum income, or put one side on a mid- or long-term lease for steady, predictable cash flow. Adding a hot tub or capturing boat-friendly guests could push those numbers even higher.

3707 Mystic Street Unit A-B, Panama City Beach

Listing courtesy of Legacy Premier Agency.

$499,000

4 Beds ⋅ 3 Baths ⋅ 796225 MLS

**Income-Producing Duplex in Downtown Panama City with Massalina Bayou Views!** Welcome to 339 Mercedes Avenue in Panama City, Florida, a fully furnished, turnkey duplex offering an incredible opportunity for investors, house hackers, or buyers looking for flexible living options near Downtown Panama City. This income-producing multifamily property is full of possibilities, live in one side and rent the other to help offset your monthly expenses, create space for multigenerational living, or rent both units for additional income potential. One side is currently being utilized as a short-term rental, making this property an attractive option for buyers looking for an established furnished rental setup. Both sides have been thoughtfully updated throughout and are being sold, fully furnished and turnkey, allowing the next owner to step right in. Each unit also offers its own spacious backyard, providing plenty of outdoor space for residents and guests. One of the standout features is the view of Massalina Bayou, giving this investment property a unique coastal Panama City setting while keeping you close to everything. Located near Downtown Panama City, shopping, dining, Ascension Sacred Heart Bay, and Tyndall Air Force Base, with Panama City Beach and the beautiful Gulf Coast beaches just a short drive away. Whether you're searching for a duplex for sale in Panama City, FL, an income-producing property, a furnished investment property, or a home where you can live in one unit and rent the other, 339 Mercedes Avenue offers flexibility, location, and investment potential all in one property. Live in one. Rent the other. Rent them both. The possibilities are yours at 339 Mercedes Avenue.

339 Mercedes Avenue, Panama City

Listing courtesy of Counts Real Estate Group Inc.

$575,000

796086 MLS

Beautiful Bay front lot with a commercial free standing building. This would be a wonderful site to build homes or town homes. Beautiful waterfront lot and over 1 acre. Building has been taken down to the studs. Heavy traffic count. Business or homes this will be a money maker for someone. Included is information for a 26 unit Home development which would be a money maker being so close to Tyndall Air Force Base. See Photo's for idea of what a developer could do here and make money! Seller will build the homes, townhomes, or apartments for the purchaser of the land. This is a great location because of Tyndall Air Force Base!

6213 E Highway 98, Panama City

Listing courtesy of Coastal Property Services, Inc.

$425,000

6 Beds ⋅ 6 Baths ⋅ 796036 MLS

RARE TRIPLEX INVESTMENT OPPORTUNITY NEAR TYNDALL AIR FORCE BASE! Opportunities to own an entire triplex don't come along often. This property features three separate 2-bedroom, 1.5-bath units and is currently generating a combined $3,240 in monthly rental income. Each unit has a functional two-story layout with both bedrooms and a full bath upstairs, while downstairs features an open living, dining and kitchen area, half bath, interior laundry room and LVP flooring. Units B and C each have privacy-fenced backyards, while Unit A has a partially privacy-fenced backyard that opens toward the large pond with a water feature and views of the neighboring walking park. Each unit also includes two designated parking spaces. Conveniently located near Tyndall Air Force Base with access to area shopping, dining and everyday conveniences, this triplex provides an opportunity to add a multi-unit property to your investment portfolio with existing rental income already in place. Whether you're looking to expand your portfolio or secure a property with three income-producing units under one ownership, this one deserves a closer look. Call today to schedule a preview of this investment opportunity!

5138 Lance Street, Panama City

Listing courtesy of CENTURY 21 Commander Realty.

509 Pinetree Drive Unit A & B, Panama City Beach

$279,997

3 Beds ⋅ 3 Baths ⋅ 796030 MLS

INVESTOR'S DREAM on the highly desirable west end of Panama City Beach! This unique property offers TWO separate units on a double lot, creating multiple opportunities for the savvy investor. Utilize the existing units as short-term vacation rentals, generate steady income with long-term rentals, or explore the potential to finish the downstairs garage area to create additional usable space and increase the property's income potential. Looking for a larger redevelopment opportunity? Take advantage of the double lot and explore the possibility of removing the existing structures and building brand-new construction. With its west-end location near 30A and the beaches, this property offers flexibility that's increasingly hard to find in Panama City Beach. Whether you're looking for STR potential, long-term rental income, a value-add project, or a future new-build opportunity, 509 Pinetree Drive gives you multiple ways to make the property work for your investment strategy. Bring your vision and take advantage of this rare west-end opportunity!

509 Pinetree Drive Unit A & B, Panama City Beach

Listing courtesy of Salty Marlin Realty LLC.

$774,900

6 Beds ⋅ 4 Baths ⋅ 795997 MLS

MOST DESIRABLE INVESTMENT OPPORTUNITY ON THE MARKET! DUPLEX - Brand-New Construction in the Heart of Belmont-DeVilliers! Whether you're looking for a Long-term rental, Short-term rental, Owner-occupied investment, or a combination of both, this beautifully designed new-construction duplex offers exceptional flexibility and income potential. Featuring two completely private 3Bed/ 2Bath units, this property offers a total of 6 bedrooms and 4 bathrooms. Each unit includes its own Full kitchen, Living area, Laundry room and Private Entrance. One unit is located on each floor, maximizing privacy and functionality. First-floor unit ~ 1,468 sq. ft. (heated/cooled) Second-floor unit ~1,376 sq. ft. (heated/cooled) Plus covered porches and spacious balcony. Both units feature an open-concept layout with modern finishes, including stainless steel appliances, quartz countertops, luxury vinyl plank flooring, and gas water heaters. The kitchens flow seamlessly into the living areas, creating comfortable and inviting spaces for everyday living or entertaining. Each primary suite offers a walk-in closet and a luxury bathroom with a double-sink vanity. The additional bedrooms provide plenty of space for family members, guests or tenants. The property also offers driveway parking for 4 vehicles. With excellent Short-term and Long-term rental income options, the possibilities are endless. Live in one and rent the other, use one as a guest suite, or maximize income renting both units. The flexible layout makes this property an excellent opportunity for both investors and owner-occupants. Ideally located just around the corner from Savoy Place, this home puts you close to the energy, dining, entertainment, and convenience of Downtown living while offering the privacy and benefits of brand-new construction. Don't miss this rare opportunity to own a versatile new-construction duplex in one of the area's most desirable locations!

410 W Wright St Street, Pensacola

Listing courtesy of Beach Properties Realty.

$5,195,000

795863 MLS

Riviera Place Apartments | DeFuniak Springs, Florida Introducing a stabilized multifamily investment opportunity in Northwest Florida. Riviera Place Apartments is a well-maintained, approximately 42,000 SF, 55-unit garden-style apartment community offered at $5,195,000. The property combines strong current occupancy, recent capital improvements, and attractive existing debt. Most notably, the property has an assumable Freddie Mac first mortgage at a fixed 3.54% interest rate, subject to lender approval and assumption requirements. The loan originated March 24, 2022 with an original principal balance of $3,120,000, a 10-year term and 30-year amortization. Investment Highlights Asking Price: $5,195,000 55 Units NOI: $390,465.64 Cap Rate: 7.51% 95%+ Occupancy Approximately 42,000 SF Garden-style / single-story multifamily 3.54% fixed-rate assumable Freddie Mac financing Flood Zone X Significant recent capital improvements Metal roofs Low-maintenance hard-coat stucco exteriors On-site laundry and video monitoring/security system Additional rent-growth potential within the existing rent roll The latest rent roll reflects 96.4% occupancy, while the current T12 reports $605,757.74 in total income and $390,465.64 in NOI. Offering Memorandum, current T12, rent roll and loan documentation available upon request.

125 N Davis Lane, Defuniak Springs

Listing courtesy of SVN Riviera Commercial.

$435,000

7 Beds ⋅ 4 Baths ⋅ 795846 MLS

Triplex Multi-Units, First Floor, 3 Bedroom 2 Bath with Kitchen & Living Room. Second Floor, with private entrance. 2 Each, 2 Bedroom 1 Bath units with Kitchen & Living Room. Best use owners occupy First Floor, Rent/Lease out Second Floor units, per month. All units separately metered both Power and PC Water/Septic. Great way to offset Mortgage. Rent out second floor Pro forma at $1600.00 each per month. Tenants pay their own power and PC utilities. Currently used as a strong investment, Multifamily First floor, with private bedrooms, shared amenities kitchen and 2 baths. Second floor, 2 units with private bedrooms 1 bath, shared amenities kitchen and bath. Dimensions and Measurements not verified, Buyer to measure to own satisfaction. All measurements are approximate. All information in this listing is believed to be accurate but must be verified by Buyer or Buyer's agent.

1908 Laurel Avenue, Panama City

Listing courtesy of JONES REAL ESTATE AND RENTALS LLC.

17462 Front Beach Road Unit 11C3, Panama City Beach

$225,000

1 Beds ⋅ 1 Baths ⋅ 795765 MLS

INVESTOR'S DREAM - Renovated & furnished condo!! New interior paint, backslash in kitchen, new stove, countertop, sink, popcorn ceiling removed in living room, new TV, and more. This condo is a short stroll to the dedicated beach access, and nestled in a quiet area of the Horizon South Condominiums complex. It is located on the desired westend of Panama City Beach. So many amenities in this community across the street including; 4 pools, hot tub, pickleball & tennis courts, shuffle board, basketball court, 18 hole mini-golf course, and more! *Measurements are approx. and should be verified by Buyer*.

17462 Front Beach Road Unit 11C3, Panama City Beach

Listing courtesy of Berkshire Hathaway HomeServices Beach Properties of Florida.

$2,000,000

10 Beds ⋅ 6 Baths ⋅ 795742 MLS

Gulf View! Fully Furnished Duplex! Built in 2017 duplex offers two identical 5 bedroom, 3 bathroom units just steps from public beach access. Unit features include open floorplan, granite countertops, stainless steel appliances, vinyl plank flooring. The flexible floor plan includes 1st floor bedroom, 2nd floor suite with balcony, bunk room, and 2 bedrooms. Private driveways & covered rear patios, with room for a small private pool. Great for a vacation home, multi-family retreat, or income-producing property, property is turnkey. Projected combined rental income exceeds $300,000 annually(buyer to verify). All info taken from appraiser site & sizes approx., please verify.

6006 Thomas Drive, Panama City Beach

Listing courtesy of Counts Real Estate Group.

13903 Millcole Avenue Unit A & B, Panama City Beach

$2,300,000

8 Beds ⋅ 10 Baths ⋅ 795717 MLS

This listing includes both sides A & B. Located in the center of PCB this is a rare opportunity to own a new duplex with gulf views, dedicated private gated beach and new pools in the welcoming Bid A Wee subdivision. The private beach is for the owners and their guest and is only a few steps from the duplex. Short term rentals are allowed. It is the responsibility of the buyer to verify all measurements if important.

13903 Millcole Avenue Unit A & B, Panama City Beach

Listing courtesy of Beach King Realty.

258 San Vincente Street, Panama City Beach

$519,900

3 Beds ⋅ 3 Baths ⋅ 795584 MLS

Great investment property could be 2 rental units or live in one side and rent out the efficiency, office or mother-in-law portion, many possibilities for this. The home is situated on 2 lots. Presently being rented as a single home with 4 bedrooms and 3 baths. Per the Panama City Beach Planning Division this lot is zoned CH (Commercial -High Intensity). A duplex is allowable subject to Land Development Code (LDC) Section 5.04.09, Townhomes are allowable subject to LDC 5.04.32. Note that a development order may be required to building permit issuance. Call today for more details on this property.

258 San Vincente Street, Panama City Beach

Listing courtesy of Top Producers Real Estate Group.

$1,174,999

795696 MLS

Rare opportunity to acquire a 14-unit multifamily property positioned directly along W Hwy 98 in Panama City, offering investors an established income-producing asset in a highly visible and strategically located corridor. With approximately 42,250 vehicles traveling this segment of W Hwy 98 daily, and updates from 2021 including new electrical, sewer and water lines, windows, doors, drywall, trusses and roof, the property benefits from exceptional exposure and convenient connectivity throughout Panama City and the surrounding Bay County market. Located in the historic St. Andrews area, this property places residents within easy reach of everyday necessities, restaurants, shopping, employment centers, schools, recreation and major transportation routes. The surrounding area provides convenient access to the Port of Panama City, Gulf Coast State College, Florida State University-Panama City, downtown Panama City, the Hathaway Bridge and the beaches of Panama City Beach. For residents, the location offers the convenience of being close to work, education, dining and entertainment, while investors benefit from the property's established multifamily use and proximity to major demand drivers throughout the Panama City market. Lucille Moore Elementary School is approximately 0.2 miles away, with Jinks Middle School approximately 2.5 miles and Bay High School approximately 2.9 miles from the property. The property's history as a multifamily asset dates back to its construction in approximately 1970, with public records also reflecting its historic operation as Bay Villa Apartments. Whether you're looking to add an established multifamily asset to your portfolio, or capitalize on the continued demand for housing in the Panama City/St. Andrews area, 3533 W Hwy 98 presents a unique opportunity to own a sizable multifamily property along one of the area's most traveled corridors. Buyer to independently verify all measurements, zoning, permitted uses, unit configuration, financials, traffic counts, and other property information deemed important to buyer. All financial information is approximate, provided by owner.

3533 W Highway 98, Panama City

Listing courtesy of CENTURY 21 Commander Realty.

$255,000

4 Beds ⋅ 3 Baths ⋅ 795634 MLS

Possible rental income with mother in law! Welcome to this beautifully designed all-brick home, offering lasting durability, timeless curb appeal, and custom interior finishes throughout. From the moment you enter, you will notice the attention to detail, thoughtful design, and quality craftsmanship that make this property truly stand out. The home features inviting living spaces, stylish custom touches, and a functional layout designed for both everyday living and entertaining. The all-brick exterior provides low-maintenance beauty, while the interior offers a warm and distinctive atmosphere that feels anything but ordinary. The standout feature of this property is the private mother-in-law suite, complete with its own full kitchen, full bathroom, bedroom, and private living space. This versatile addition is ideal for extended family, visiting guests, a private home office, or potential rental income. It provides independence and privacy while remaining conveniently located on the same property. Whether you are looking for additional space for loved ones or an opportunity to generate extra income, this unique home offers flexibility that is difficult to find. Do not miss the opportunity to own a thoughtfully designed property with exceptional features and multiple possibilities.

128 Central Avenue, Panama City

Listing courtesy of Central Bay Realty and Property Management LLC.

$249,000

3 Beds ⋅ 3 Baths ⋅ 795589 MLS

Welcome to low-maintenance living at its finest in the desirable Jakes Landing neighborhood! This stunning, modern townhome offers a bright, open-concept floor plan designed for effortless everyday living and entertainment. The main level seamlessly connects the spacious living and dining areas to a chef-inspired kitchen featuring granite countertops, stainless steel appliances, crisp cabinetry, and a large island perfect for prep or breakfast seating. Upstairs, the expansive primary suite serves as a private retreat complete with an ensuite bath and generous closet space, while the additional bedrooms offer versatility for family, guests, or a home office. Conveniently located near the Hwy 77/390 corridor, you're just minutes from top-rated schools, dining, shopping, major employers, Tyndall AFB, and the white-sand beaches of Panama City Beach. Schedule your private showing today!

1720 Jakes Drive, Panama City

Listing courtesy of Keller Williams Success Realty.

$250,000

4 Beds ⋅ 4 Baths ⋅ 795519 MLS

INVESTMENT OPPORTUNITY -- FOUR FULLY OCCUPIED RENTAL UNITS! 209 Sherman Ave features four currently occupied apartment units, generating $750 per unit per month, or $3,000 in gross monthly rental income / $36,000 annually. Each unit is individually metered. Owner-reported utilities average approximately $250/month. Property taxes are approximately $2,500 annually. The property consists of two buildings on approximately 0.23 acres with off-street parking. Built in 1947, the property offers an established rental setup with four income-producing units in a convenient Panama City location. Strong opportunity for an investor seeking existing rental income and an occupied multifamily property. Buyer to verify all unit count, square footage, room dimensions, rental income, expenses, utility arrangements, taxes, insurance, zoning, permits, property condition and all other information deemed important by buyer.

209 Sherman Avenue, Panama City

Listing courtesy of eXp Realty, LLC.

$159,900

558759 MLS

Investor special!!! Tenant in place in one of the units, leaving the other to be fine tuned. There have been some improvements done to the vacant unit but it needs just a little more. Total sq footage is 2300 . Live in one and rent out the other!

309 & 311 N Merrick Avenue, Ozark

Listing courtesy of At Home Realty Services.

1110 Sheffield Avenue Unit AB, Panama City

$278,000

6 Beds ⋅ 4 Baths ⋅ 795413 MLS

20k Price Reduction. Ready to Sell, Bring All Buyers. Duplex, Investment Opportunity. Both units are 3 Bedroom 2 Bathroom. Close to Rutherford High School. One, side rented producing $1700 per month. Recent Roof. Front unit is in the process of upgrades. More Photos to come. All information deemed reliable please verify for accuracy.

1110 Sheffield Avenue Unit AB, Panama City

Listing courtesy of Alan Ballas Realty.

7300 Sunset Avenue Unit A & B, Panama City

$499,000

4 Beds ⋅ 2 Baths ⋅ 795186 MLS

Rare opportunity to own a furnished duplex just moments from the sugar-white sands of Panama City Beach! Each side features 2 bedrooms, 1 bath, brand-new kitchen cabinets and appliances, separate parking, a private backyard, and its own outdoor shower. Short-term rentals are allowed, offering excellent flexibility to rent both units, live in one and rent the other, or create the perfect beach getaway for family and guests. Enjoy lagoon views from the yard, convenient access to the nearby boat ramp, and incredible proximity to the beach. Being sold furnished, this property offers a turnkey opportunity with multiple possibilities for personal use and rental income. Two units, one fantastic location, and endless potential near the Gulf!

7300 Sunset Avenue Unit A & B, Panama City

Listing courtesy of EXP Realty LLC.

4111 Appalachee Street Unit A, Panama City Beach

$995,000

6 Beds ⋅ 6 Baths ⋅ 795113 MLS

This is a rare find on the east side of Panama City Beach. Three attached townhomes with 2 bedrooms 2 baths each, single car carport for each unit, new windows, sheetrock, glass doors, and roof. The property had some damages from Hurricane Michael. Most things have been fixed except cosmetics. Shared pool in the back with nice deck for entertaining. Approximately 1 block from Beach Access 17. Perfect for an investor! More photos to come!

4111 Appalachee Street Unit A, Panama City Beach

Listing courtesy of Realty One of Northwest Florida LLC.

$350,000

6 Beds ⋅ 4 Baths ⋅ 795016 MLS

Built in 2024, this Panama City duplex offers two units, each featuring 3 bedrooms, 2 bathrooms, and over 1,050 square feet of living space, totaling over 2100sqft. Both units are currently leased at $1,650 per month each, providing combined scheduled gross rental income of $3,300 per month before expenses. The lease for 314 Bayou Avenue runs October 1, 2025, through September 30, 2026, and the lease for 316 Bayou Avenue runs September 1, 2025, through August 31, 2026. An opportunity to purchase a newer duplex with existing leases in place. Buyer to verify square footage, lease terms, and operating expenses.

314 & 316 Bayou Avenue, Panama City

Listing courtesy of ERA Neubauer Real Estate Inc.

$689,900

4 Beds ⋅ 2 Baths ⋅ 794974 MLS

Toucan's Towers short term rental DUPLEX in an X FLOOD ZONE is a rare find in Mexico Beach! Multifamily property with gulf views and walking distance to, you guessed it, Toucan's on the Beach restaurant (coming soon again to Mexico Beach!). A short stroll down to the white sand beaches of the gulf with incredible opportunity for both full-time living AND short term or long term rental investing. Live on one side, rent the other. Rent both. Occupy both for yourself or family/friends! The options are truly endless. Each side is independent of the other with separate parking under the home and entrances. At both 715 and 717 Fortner Ave, you'll find gulf views, convenient location, great proximity to the beach, restaurants nearby, etc! If you are looking for a ''no brainer'' investment along the beautiful Forgotten Coast, it has arrived. The sellers have very loosely rented this property - too good not to use for themselves!!

717 Fortner Avenue, Mexico Beach

Listing courtesy of Selling The Coast LLC.

$1,797,000

2 Beds ⋅ 2 Baths ⋅ 794913 MLS

Investment Opportunity! Turnkey 12-unit townhome community in a prime, centrally located Panama City location with convenient access to major highways. Each unit features 2 bedrooms, 1.5 bathrooms, LVP flooring, updated countertops, stainless steel appliances, and washer/dryer hookups. The property is divided across three separate parcels, with each unit individually metered for added convenience and straightforward expense management. Each unit also has assigned parking. A great opportunity for investors looking for a well-maintained, income-producing property in a convenient location.

1623 N James Avenue, Panama City

Listing courtesy of CENTURY 21 Commander Realty.

$250,000

2 Beds ⋅ 2 Baths ⋅ 794873 MLS

INVESTORS WANTED -- BRAND-NEW INCOME-PRODUCING DUPLEX WITH FREE LOT! Looking for an affordable way to add new construction to your rental portfolio? This brand-new duplex offers an excellent opportunity to generate cash flow with minimal maintenance. Convenient Panama City Location Located just one block off MLK Blvd near 15th Street, the property is close to shopping, employment, transportation, and everyday conveniences. The new MLK Recreation Center is just a stone's throw away, and a nearby bus stop is within easy walking distance. PROPERTY FEATURES • Brand-new construction • Two separate 1-bedroom / 1-bath units • Estimated rent of approximately $1,300 per month per unit • Approximately $2,600/month in combined projected rental income • Durable Hardie® siding • Quartz countertops • Luxury vinyl plank (LVP) flooring • Designed with low-maintenance rental ownership in mind The efficient 1-bedroom floor plans are ideal for singles, couples, retirees, or anyone looking for an attractive new home with manageable monthly expenses. EVEN MORE INCOME POTENTIAL One of the biggest advantages of this property is the opportunity to expand the rental income. The property has space for an additional dwelling unit if split. For an additional fee, I can build the accessory unit for the buyer. The additional unit is projected to rent for approximately $1,300 per month, potentially increasing total gross rental income to approximately: $5,200 PER MONTH / $62,400 PER YEAR That gives an investor the opportunity to purchase the duplex today and add another income-producing unit. New construction. Low maintenance. Strong rental potential. Future expansion opportunity. Call or message me for pricing, additional property details, rental projections, or information on adding the third unit. Owner/Agent Rental amounts are estimates only and are not guaranteed. Buyer should independently verify rental rates and investment performance.

900 E 14th Street Unit A-B, Panama City

Listing courtesy of JC Real Estate Group, LLC..

$675,000

6 Beds ⋅ 6 Baths ⋅ 794807 MLS

Income-producing opportunity in Panama City! Located at 2600, 2602, and 2604 E 1st Plaza, this six-unit property features one-bedroom, one-bathroom units with approximately 518 square feet each. Convenient to shopping and schools, each unit includes water and garbage service in the rent. Reported monthly rents range from $1,076 to $1,225, totaling $6,891 in gross monthly rental income, or $82,692 annualized at current rental rates before expenses. An opportunity to establish or expand your rental portfolio. Buyers should verify square footage, lease terms, rental income, and operating expenses during due diligence.

2600 E 1st Plaza, Panama City

Listing courtesy of ERA Neubauer Real Estate Inc.

$275,000

558432 MLS

Don’t miss this fantastic opportunity to own a well-established mobile home park offering excellent income potential and room for growth! This property includes: 9 Mobile Homes and 1 Single-Family House– providing consistent rental income Mature Pecan Trees – adding beauty and charm to the property Available Lots – space to add 6 more mobile homes and increase revenue! 2.74 acres total. The site is outside the City Limits and not zoned! The park is well-maintained with open green spaces, established landscaping, and utility hookups in place. Located on a quiet street with easy access to local amenities and major roadways, this property is ideal for investors looking to expand their portfolio or those seeking passive income with long-term upside. The combination of current cash flow and development potential makes this property a rare find. Don’t wait—opportunities like this don’t last long!

220 County Road 401, Elba

Listing courtesy of 1st Class Real Estate Wiregrass.

$350,000

6 Beds ⋅ 4 Baths ⋅ 794731 MLS

Built in 2023, this duplex features two 3-bedroom, 2-bathroom units, both currently occupied and leased at $1,650 per month each. Combined scheduled gross rental income is $3,300 per month before expenses. Convenient to Tyndall Air Force Base and Business 98, this property offers an opportunity to add a newer duplex with existing tenants to your investment portfolio.

147/ 149 Claire Avenue, Panama City

Listing courtesy of ERA Neubauer Real Estate Inc.

$2,075,000

2 Beds ⋅ 1 Baths ⋅ 794715 MLS

Investor opportunity! The Lenawee Apartments, located at 6318-6321 Lenawee St in Panama City, FL, offer a multifamily investment opportunity with 18 total units across five buildings. The property includes four quadplexes with 16 two-bedroom, one-bath units of approximately 750 square feet each, along with a duplex featuring two additional two-bedroom, one-bath units of approximately 832 square feet each. All five buildings were constructed in 1985 and feature stucco exteriors. Recent improvements include 2019 roofs and 2020 water heaters, and the units are individually metered for water and electricity. Conveniently located near retail, dining, major roadways, and Tyndall Air Force Base, the property offers strong potential for an investor looking to add a multifamily property to their portfolio.

6321 Lenawee Street Unit D, Panama City

Listing courtesy of CENTURY 21 Commander Realty.

$725,000

6 Beds ⋅ 4 Baths ⋅ 794706 MLS

Two residences, one property, and an incredible opportunity just steps from the Gulf in sought-after Bid-A-Wee!Located within a section of the neighborhood where SHORT-TERM RENTALS ARE PERMITTED, 13801 Bay Avenue offers a rare combination of flexibility, beach access, and investment potential in the heart of Panama City Beach. Situated on a single parcel are two separate 3-bedroom, 2-bath residences totaling approximately 2,300 square feet of living space. Both offer their own living areas, kitchens, laundry, private entrances, fenced outdoor spaces, and garage access, creating countless possibilities for how the property can be enjoyed. The main home has received updates throughout and includes a sunroom/breezeway leading to the garage and backyard, while the second residence offers an open layout and covered front porch. With six bedrooms and four bathrooms between the two, the setup works beautifully for extended family, guests, a primary residence with additional income potential, or a vacation rental investment. Generous parking also provides room for additional vehicles or a boat. And then there's the location! Bid-A-Wee is known for its gated, deeded beach access, offering a more private way to enjoy Panama City Beach's sugar-white sand and emerald Gulf waters. The beach is just a short walk or quick golf-cart ride away, while Pier Park, shopping, restaurants, entertainment, nightlife, and everyday conveniences are all just minutes from home. Properties offering this combination of two residences, short-term rental potential, garage and outdoor space, beach access, and a central PCB location don't come along often. Whether you're looking for a primary home with additional living quarters, a multigenerational setup, beach getaway, or income-producing opportunity, 13801 Bay Avenue gives you the flexibility to make it your own. Two residences. Six bedrooms. Beach access. Short-term rental potential. One unique Bid-A-Wee opportunity.

13801 Bay Avenue, Panama City Beach

Listing courtesy of eXp Realty, LLC.

$240,000

2 Beds ⋅ 2 Baths ⋅ 794618 MLS

INVESTORS WANTED -- BRAND-NEW INCOME-PRODUCING DUPLEX! Looking for an affordable way to add new construction to your rental portfolio? This brand-new duplex offers an excellent opportunity to generate cash flow with minimal maintenance. Convenient Panama City Location Located just one block off MLK Blvd near 15th Street, the property is close to shopping, employment, transportation, and everyday conveniences. The new MLK Recreation Center is just a stone's throw away, and a nearby bus stop is within easy walking distance. PROPERTY FEATURES • Brand-new construction • Two separate 1-bedroom / 1-bath units • Estimated rent of approximately $1,300 per month per unit • Approximately $2,600/month in combined projected rental income • Durable Hardie® siding • Quartz countertops • Luxury vinyl plank (LVP) flooring • Designed with low-maintenance rental ownership in mind The efficient 1-bedroom floor plans are ideal for singles, couples, retirees, or anyone looking for an attractive new home with manageable monthly expenses. EVEN MORE INCOME POTENTIAL One of the biggest advantages of this property is the opportunity to expand the rental income. The property has space for an additional accessory dwelling unit, and I already have a permitted plan available. For an additional fee, I can build the accessory unit for the buyer. The additional unit is projected to rent for approximately $1,300 per month, potentially increasing total gross rental income to approximately: $3,900 PER MONTH / $46,800 PER YEAR That gives an investor the opportunity to purchase the duplex today and add another income-producing unit without having to start the planning process from scratch. New construction. Low maintenance. Strong rental potential. Future expansion opportunity. Call or message me for pricing, additional property details, rental projections, or information on adding the third unit. Owner/Agent Rental amounts are estimates only and are not guaranteed. Buyer should independently verify rental rates and investment performance. See 1347 Mercedes Ave and 900 E 14th St for the additional properties.

904 E 14th Street Unit A-B, Panama City

Listing courtesy of JC Real Estate Group, LLC..

$225,000

558561 MLS

Four 2Bd/1Ba townhomes. 1229, 1245, 1339, and 1352 Harris Road are also available. Prospective buyers must submit a pre-approval letter or proof of funds to the listing agent prior to touring the properties.

1263 Harris Road, Ozark

Listing courtesy of Forrest & Fields CRE.

$225,000

558560 MLS

Four 2Bd/1Ba townhomes. 1229, 1245, 1263, and 1352 Harris Road are also available. Prospective buyers must submit a pre-approval letter or proof of funds to the listing agent prior to touring the properties.

1339 Harris Road, Ozark

Listing courtesy of Forrest & Fields CRE.

$225,000

558562 MLS

Four 2Bd/1Ba townhomes. 1229, 1263, 1339, and 1352 Harris Road are also available. Prospective buyers must submit a pre-approval letter or proof of funds to the listing agent prior to touring the properties. See attached sheet for other properties listed with Kelly Woodham.

1245 Harris Road, Ozark

Listing courtesy of Forrest & Fields CRE.

$225,000

558563 MLS

Tenant occupied. 1245, 1263, 1339, and 1352 Harris Road are also available. Prospective buyers must submit a pre-approval letter or proof of funds to the listing agent prior to touring the properties. See attached sheet for other properties listed with Kelly Woodham.

1229 Harris Road, Ozark

Listing courtesy of Forrest & Fields CRE.

$300,000

558559 MLS

Four 2Bd/1.5Ba townhomes. 1229, 1245, 1263, and 1339 Harris Road are also available. Prospective buyers must submit a pre-approval letter or proof of funds to the listing agent prior to touring the properties.

1352 Harris Road, Ozark

Listing courtesy of Forrest & Fields CRE.

1347 Mercedes Avenue Unit A-B, Panama City

$240,000

2 Beds ⋅ 2 Baths ⋅ 794521 MLS

INVESTORS WANTED -- BRAND-NEW INCOME-PRODUCING DUPLEX! Looking for an affordable way to add new construction to your rental portfolio? This brand-new duplex offers an excellent opportunity to generate cash flow with minimal maintenance. Convenient Panama City Location Located just one block off MLK Blvd near 15th Street, the property is close to shopping, employment, transportation, and everyday conveniences. The new MLK Recreation Center is just a stone's throw away, and a nearby bus stop is within easy walking distance. PROPERTY FEATURES • Brand-new construction • Two separate 1-bedroom / 1-bath units • Estimated rent of approximately $1,300 per month per unit • Approximately $2,600/month in combined projected rental income • Durable Hardie® siding • Quartz countertops • Luxury vinyl plank (LVP) flooring • Designed with low-maintenance rental ownership in mind The efficient 1-bedroom floor plans are ideal for singles, couples, retirees, or anyone looking for an attractive new home with manageable monthly expenses. EVEN MORE INCOME POTENTIAL One of the biggest advantages of this property is the opportunity to expand the rental income. The property has space for an additional accessory dwelling unit, and I already have a permitted plan available. For an additional fee, I can build the accessory unit for the buyer. The additional unit is projected to rent for approximately $1,300 per month, potentially increasing total gross rental income to approximately: $3,900 PER MONTH / $46,800 PER YEAR That gives an investor the opportunity to purchase the duplex today and add another income-producing unit without having to start the planning process from scratch. New construction. Low maintenance. Strong rental potential. Future expansion opportunity. Call or message me for pricing, additional property details, rental projections, or information on adding the third unit. Owner is the listing Agent Rental amounts are estimates only and are not guaranteed. Buyer should independently verify rental rates and investment performance.

1347 Mercedes Avenue Unit A-B, Panama City

Listing courtesy of JC Real Estate Group, LLC..

$2,975,000

8 Beds ⋅ 8 Baths ⋅ 794371 MLS

Completely reimagined and extensively renovated in 2026, this Miramar Beach duplex offers two identical three story residences totaling 5,040 square feet of heated and cooled living space. With no HOA, deeded beach access directly across Scenic Gulf Drive, Gulf views, a fenced shared pool, and an updated paved driveway with on site parking, this is a rare Emerald Coast opportunity. Each residence offers approximately 2,520 square feet with 4 bedrooms, 3 full bathrooms, and 1 half bathroom. The first floor includes two bedrooms, a full bathroom, and a spacious living area with direct pool access. One first floor bedroom in each residence features custom built bunk beds for additional sleeping accommodations. The second floor features an open living and dining area, half bathroom, Gulf view balcony, and updated kitchen with quartz countertops, white shaker cabinetry, subway tile backsplash, stainless steel appliances, and generous storage. The third floor provides two bedrooms, two full bathrooms, and an additional Gulf view balcony. Permitted improvements include a metal reroof, siding, doors, flooring, sheetrock, kitchens, bathrooms, water heaters, vanities, plumbing and electrical fixtures, trim, ceiling fans, lighting, paint, and refreshed exterior amenities. This property offers exceptional flexibility for investment, multigenerational living, or a coastal retreat.

1656 Scenic Gulf Drive, Miramar Beach

Listing courtesy of Counts Real Estate Group Inc.

$74,900

3 Beds ⋅ 2 Baths ⋅ 214349 MLS

INVESTMENT for you, HOME for two lucky tenants OR time for a change by making this duplex back to it original layout. Let's get creative and make this old charmer like new!!! It is a must see in a great location!

212 Montana St, Dothan

Listing courtesy of JW Grant Realty.

$349,000

9 Beds ⋅ 6 Baths ⋅ 794136 MLS

**INVESTOR ALERT** This piece of property on the East end of the beach has so many options, making this perfect for your next investment! Almost .7 of an acre in the Upper Grand Lagoon area, with current Trailer Park Zoning, has five mobile homes on the property. Four are being rented to long term tenants under market value. The other could be remodeled or replaced because of the zoning. All are metered separately and pay their own electric and water. Leaving this property ''as is'' gives strong cash-flow opportunity. This would also make a great development opportunity. Currently, it could be developed as two duplexes, or with a development order could be changed to multi-family. Please do not disturb tenants. All measurements/information are approximate. Buyer to do their own due diligence.

2122 Anne Avenue, Panama City

Listing courtesy of SimpliHOM.

$400,000

2 Beds ⋅ 1 Baths ⋅ 794088 MLS

SELLER PROVIDED APPRAISAL & SURVEY IN DOCUMENTS! GREAT INVESTMENT OPPORTUNITY! This is 1 of 3 Apartment Buildings For Sale. There is Q1-4, R1-4 & S1-4. Other Parcel Numbers: 07238-006-000, 07238-003-000 Each building has 4 apartments 2/1 Bath about 750 sq. ft. each with total area of 3000 sq. ft. total. All 3 buildings have 12 total units, 9,000 sq ft total. $1,200,000 for all three buildings. Rental Income available and expenses. Vacancy is typically 90% and rent fast when turned over. Buyer and Buyers agent to verify all dimensions and anything deemed important.

1341 E Park Road Unit S1-4, Panama City

Listing courtesy of Anchor Realty Florida.

$400,000

2 Beds ⋅ 1 Baths ⋅ 794086 MLS

SELLER PROVIDED APPRAISAL & SURVEY IN DOCUMENTS! GREAT INVESTMENT OPPORTUNITY! This is 1 of 3 Apartment Buildings For Sale. There is Q1-4, R1-4 & S1-4. Other Parcel Numbers: 07238-006-000, 07238-003-000 Each building has 4 apartments 2/1 Bath about 750 sq. ft. each with total area of 3000 sq. ft. total. All 3 buildings have 12 total units, 9,000 sq ft total. $1,200,000 for all three buildings. Rental Income available and expenses. Vacancy is typically 90% and rent fast when turned over. Buyer and Buyers agent to verify all dimensions and anything deemed important.

1339 E Park Road Unit R1-4, Panama City

Listing courtesy of Anchor Realty Florida.

8723 Conch Shell Court, Panama City Beach

$399,000

2 Beds ⋅ 2 Baths ⋅ 794082 MLS

Charming 2-bedroom, 2-bath Bamboo Cottage in Latitude at Watersound, beautifully updated with thoughtful upgrades throughout. The kitchen features quartz countertops, a gas range, KitchenAid appliances, custom lighting, and a stylish backsplash, while plantation shutters and fresh interior paint add to the home's polished feel. Both bathrooms feature tile, and the home offers 8-foot oversized doors throughout, a screened-in porch, and a recently epoxied garage floor. The primary closet has also been enhanced with custom shelving for added organization and storage. Whether you're looking for a vacation getaway, an investment property, or your own Latitude at Watersound retreat, this charming cottage is ready to enjoy and make your own.

8723 Conch Shell Court, Panama City Beach

Listing courtesy of Legacy Premier Agency.

$400,000

2 Beds ⋅ 1 Baths ⋅ 794078 MLS

SELLER PROVIDED APPRAISAL & SURVEY IN DOCUMENTS! GREAT INVESTMENT OPPORTUNITY! This is 1 of 3 Apartment Buildings For Sale. There is Q1-4, R1-4 & S1-4. Other Parcel Numbers: 07238-006-000, 07238-003-000 Each building has 4 apartments 2/1 Bath about 750 sq. ft. each with total area of 3000 sq. ft. total. All 3 buildings have 12 total units, 9,000 sq ft total. $1,200,000 for all three buildings. Rental Income available and expenses. Vacancy is typically 90% and rent fast when turned over. Buyer and Buyers agent to verify all dimensions and anything deemed important.

1337 E Park Road Unit Q1-4, Panama City

Listing courtesy of Anchor Realty Florida.

$389,900

793822 MLS

143 Claire Ave Turnkey 6 Unit Multifamily Investment Excellent investment opportunity! 143 Claire Ave is a remodeled 6-unit multifamily property, consisting of six studio apartments. The property has been updated and offers an investor the opportunity to acquire an income producing asset without taking on a major renovation project. Each unit features an efficient studio layout, making the property well suited for tenants looking for affordable, low maintenance living. With six individual rental units under one roof, this property provides multiple income streams and strong potential for consistent occupancy. Whether you're looking to add to an existing rental portfolio or get into multifamily investing, 143 Claire Ave offers a great combination of updated units, rental income potential, and manageable size. Six units. Remodeled. Income producing. Ready for its next owner.

143 Claire Avenue Unit 101, Panama City

Listing courtesy of CENTURY 21 Commander Realty.

2313/2311 Anne Avenue, Panama City Beach

$899,000

6 Beds ⋅ 6 Baths ⋅ 793756 MLS

Performing, luxury DUPLEX short term rental on the desirable east end of Panama City Beach. Fully furnished, averaging $43k income per unit per year. -Individual, privately fenced backyard per unit -Private, covered porches -Individual, private garage per unit -In ground sprinkler system -Oversized lot with room for pool or expansion

2313/2311 Anne Avenue, Panama City Beach

Listing courtesy of Corcoran Reverie SRB.

$389,900

6 Beds ⋅ 6 Baths ⋅ 793806 MLS

143 Claire Ave Turnkey 6 Unit Multifamily Investment Excellent investment opportunity! 143 Claire Ave is a remodeled 6-unit multifamily property, consisting of six studio apartments. The property has been updated and offers an investor the opportunity to acquire an income producing asset without taking on a major renovation project. Each unit features an efficient studio layout, making the property well suited for tenants looking for affordable, low maintenance living. With six individual rental units under one roof, this property provides multiple income streams and strong potential for consistent occupancy. Whether you're looking to add to an existing rental portfolio or get into multifamily investing, 143 Claire Ave offers a great combination of updated units, rental income potential, and manageable size. Six units. Remodeled. Income producing. Ready for its next owner.

143 Claire Avenue Unit 101, Panama City

Listing courtesy of CENTURY 21 Commander Realty.

$545,000

6 Beds ⋅ 6 Baths ⋅ 793726 MLS

Discover a rare gem in this triplex located in Lynn Haven, Florida. 913, 915, 917 Bradford Circle presents an outstanding investment opportunity with immediate returns and substantial growth potential. All three units are currently occupied, ensuring a steady stream of income from day one, totaling an impressive $3,000 per month. What truly sets this property apart is the untapped potential for increased profitability; current rental rates have remained the same for some time, offering an opportunity for the new owner to optimize income and significantly boost your return on investment. You might also consider occupying one unit and renting out the remaining two, offering both a place to live and rental income. Beyond its financial appeal, the triplex boasts a location that is highly attractive to renters. Situated just minutes away from Lynn Haven schools, a diverse array of shops and dining options, beautiful community parks, and convenient boat ramps, residents will enjoy unparalleled access to amenities and recreational activities. The property has a total of six bedrooms and six bathrooms, with each of the three units thoughtfully designed to include two bedrooms and two bathrooms, for those tenants that need the extra space! Some recent upgrades include a newer metal roof installed in 2022 and two newer air conditioning units. Don't miss this chance to acquire a turn-key investment that combines stable current cash flow with the exciting prospect of future appreciation and enhanced rental income. *All measurements to be verified by the buyer.

917 Bradford Circle, Lynn Haven

Listing courtesy of ERA Neubauer Real Estate Inc.

The Lakes Multi-Family Properties for Sale

Newest The Lakes Multi-Family Homes for Sale

How much is your home worth?

How much is your home worth?

Prevail Real Estate

Search

Resources

About