240 Harmon Avenue, Panama City, FL

$6,700,000

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29,796

Square feet

1.05

Acres

About 240 Harmon Avenue

Discover an exceptional investment opportunity with this fully renovated, multifamily apartment community situated on a prime waterfront location. Boasting 34 units, this property seamlessly integrates residential living with marina access, featuring a 22-slip marina ideal for water enthusiasts. The community offers a diverse mix of unit configurations, including 12 one-bedroom units, each 650 sq. ft., and 22 two-bedroom units, each 920 sq. ft., designed for comfortable, modern living. Recent renovations in 2020 have transformed 22 of these units down to the ''studs,'' bringing them up to contemporary standards with high-quality finishes. New roofs and mechanicals provide peace of mind, while stainless appliances and composite floors enhance the style and functionality of each livingspace. Every unit features new interior sheet rock, insulation, siding, windows, and doors, all compliant with the 2019 Miami / Dade FL Building Code. Currently 100% occupied, the property is a beacon of stability and profit potential. With $4.4 million in fixed-rate 3.75% assumable, non-recourse financing available, this is a rare chance to secure a prime asset in a sought-after location with immediate cash flow. Don't miss the opportunity to own this unique, garden-style apartment community that combines luxury living with waterfront charm.

Features of 240 Harmon Avenue

MLS® # RX-11076691
Price $6,700,000
Square Footage 29,796
Acres 1.05
Year Built 1966
Type Commercial
Sub-Type Income
Style Marina, Resident. Multi-Fam.
Status Active

Community Information

Address 240 Harmon Avenue
Area 5940
Subdivision DAVIS PLAT
City Panama City
County Bay
State FL
Zip Code 32401

Amenities

Utilities 3-Phase Electric, Cable, Public Sewer, Public Water
Is Waterfront Yes
Waterfront Ocean Access

Interior

Appliances Building and Land, License
Heating Electric
Cooling Electric
# of Stories 2

Exterior

Lot Description Multi Fam
Roof Other

Additional Information

Zoning PC05
RE / Bank Owned No

Listing Details

OfficeLuxe Coastal Realty Group LLC

Listing Map

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