6 Beds
6 Baths
2,907 sqft
$578,000
116 Springfield Avenue, Panama City FL, 32401
Price per sqft$198.83
Built in1952
Property size2,907 sqft
Property typeMulti-family
Overview
Active
Listed May 30, 2026
Updated Aug 21
Serious price improvement. The numbers make great sense, solid ROI. Add to your portfolio today! 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 property is a strong addition to any investment portfolio.
Whether you are looking to expand your rental holdings, secure consistent income, or invest in a low-maintenance multi-unit property, this turnkey opportunity is ready to perform from day one. Buyer to confirm measurements. Some photos edited and staged
$3,845/mo
Est. mortgage payment based on a $578,000 home price.
All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.
Additional information
- MLS® ID
- 790574
Interior Features
- Bedrooms
- 6
- Bathrooms
- 6
- Cooling
- Yes
- Basement
- No
Exterior Features
- Lot Size
- 0.31 Acres
Other Property Details
- Taxes
- $8,434
- Tax Frequency
- Annually
Courtesy of Beachy Beach Real Estate, Heather Fox,
Listing Contact: 850-541-5774
All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Local Insight Realty shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
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