116 Springfield Avenue, Panama City, FL 32401 (MLS# 790574)

116 Springfield Avenue, Panama City, FL 32401

New Listing

$608,000

Property Type: Residential Bedrooms: 6 Baths: 6 Square Footage: 2,907 Lot Size (sq. ft.): 13,504 Status: Active

Current Price: $608,000 List Date: 5/30/2026 Last Modified: 5/30/2026

Overview

Description

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 prop … (Read more)

Listing Details MLS# 790574

Contract Info

List Price/SqFt: 209.15

Location

Area: 02 – Bay County – Central
Street #: 116
Street Name: Springfield
Street Suffix: Avenue
State: FL
Zip Code: 32401
County: Bay
Sub Area: 0202 – Bay – Central SE
Subdivision: No Named Subdivision
Community/Resort: None
Waterfront: No
Parcel ID: 24226-000-000
Elementary School: Cherry Street
Middle School: Rutherford Middle
High School: Rutherford
Directions: From Bay Medical Center, head south on North Bonita Ave. Turn left on Bus-US 98. Take a right onto Everitt Ave., left on E First Court. Proceed to Second Street and take a left onto Springfield Ave. The property will be on the corner lot on the right.
Legal Description: N MOORETOWN (1.15) LOTS 1,2 BLK 9 ORB 4686 P 914

General Property Info

Sub-Type: Multi Family
Design: N/A
Apx SqFt(Htd/Cooled): 2907
SqFt Source: Prop App Site
Full Baths: 6
Total Baths: 6
Year Built: 1952
Construction Status: Construction Complete
New Construction: No
Garage Y/N: No
Lot Dimensions: 154 X100X154X101
Acreage: 0.31
Lot Size (SqFt): 13504
Pool: No

Listing Info, Tax and Legal

Homestead: No
HOA Fee: No
Is Subject Leased: Yes
New Buyer Fee: No
Last Taxes: 8434
Last Tax Year: 2025
Brokerage Interest: No Interest

Remarks & Misc

Remarks: 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

Great Room

First: Yes

More Information

Master Bathroom

First: Yes

Appliances

Cooktop – Electric: Yes
Oven – Electric: Yes
Refrigerator: Yes

Interior Features

Floor – Vinyl Plank: Yes

Construction/Siding

Block: Yes
Foundation – Slab on Grade: Yes
Roof – Dimensional Shg: Yes

Existing Leases

7 – 12 Months: Yes
1 or More Years: Yes

Exterior

Porch Covered: Yes

Financing

Cash: Yes
Conventional: Yes
FHA: Yes

Furnished

Unfurnished: Yes

Lot Features

Corner Lot: Yes

Lot Access

City Street: Yes

Parking Features

Driveway: Yes

Mstr Bath / Mstr Bdrm

MBath Shower/Tub Combo: Yes

Present Zoning

Resid Multi-Family: Yes
Other – See Remarks: Yes

Rooms

Bedroom: Yes
Great Room: Yes
Master Bathroom: Yes
Master Bedroom: Yes

Utilities

Electricity – Connected: Yes
Public Sewer – Connected: Yes
Public Water – Connected: Yes

Master Bedroom

First: Yes

Bedroom

First: Yes

Cooling

Window Unit(s): Yes

Property Features

Appliances: Cooktop – Electric; Oven – Electric; Refrigerator Master Bedroom: First Bedroom: First Cooling: Window Unit(s) Existing Leases: 7 – 12 Months; 1 or More Years Exterior: Porch Covered Financing: Cash; Conventional; FHA Furnished: Unfurnished Lot Features: Corner Lot Lot Access: City Street Master Bathroom: First Great Room: First Parking Features: Driveway Rooms: Bedroom; Great Room; Master Bathroom; Master Bedroom Utilities: Electricity – Connected; Public Sewer – Connected; Public Water – Connected Present Zoning: Resid Multi-Family; Other – See Remarks

Room Information

Room Name	Level	Dimensions	Length	Width	Remarks
Master Bedroom	First	13 x 9	13.00	9.00	Buyer to verify
Bedroom	First	13 x 8	13.00	8.00
Master Bedroom	First	13 x 8	13.00	8.00
Master Bedroom	First	13 x 8	13.00	8.00
Great Room	First	20 x 13	20.00	13.00
Master Bathroom	First	13 x 8	13.00	8.00

Listing Office: Beachy Beach Real Estate

Last Updated: May – 30 – 2026

Information deemed reliable but not guaranteed.