223 Venado Place, Panama City Beach, FL 32413 (MLS# 728420)

SOLD This walking distance to the beach quadplex is just what you’ve been looking for – maximum flexibility: Keep as quadplex with current annual leases and outstanding Cap Rate. Change to nightly rentals and make a fortune! Sitting on a 150X65 parcel, 1,500 feet from the beach, close enough to enjoy and view, enough above sea level and far enough away to avoid beach impact of hurricanes and costly insurance. Currently configured as three 2-bedroom one bath apartments, and one 1-bedroom one bath apartment. Building constructed the way a beach structure should be in 1989, hurricane straps before they were required, secondary waterproof membrane under shingles, stucco exterior walls.

Supplements: Grandfathered in – Bay County density ordinances no longer permit 4 dwellings on this size parcel; the limit is 3. Convert to 2-bedroom 2-bathroom duplex and maximize resale. Convert to a 4-bedroom 4-bathroom two story 2,654 sq ft beach house, with plenty of parking for guests. This property is already a money maker but has so much more potential yet!