5801&5803 Pinetree A,B,C&D, Panama City Beach, FL 32408 (MLS# 721364)

5801&5803 Pinetree A,B,C&D, Panama City Beach, FL 32408

$922,500

Property Type: Residential Bedrooms: 8 Baths: 4 Square Footage: 3,072 Lot Size (sq. ft.): 12,000 Status: Sold

Current Price: $922,500 List Date: 1/22/2022 Last Modified: 9/24/2024

Overview

Description

Fantastic opportunity for a multifamily investment. 2 buildings with 2 parcel IDs, 2 units in each building. Each unit (total of 4) is a 2BD/1BA. At only 3 blocks from the beach, this is an investors’ dream and would make adorable vacation rentals. With some TLC and some perks like a golf cart, each unit is projected to generate $25-35K gross annually. Currently occupied with long term tenants, with a 30 day clause to move out after successful closing. Monthly gross rent income for the 4 units long-term is currently $4525. Add a swimming pool in the back for an unforgettable retreat. All unit metered for separate cable tv, water, electric and security lighting. Each unit has private storage/laundry area. All unit have new appliances.

Listing Details MLS# 721364

Contract Info

List Price/SqFt: 309.24

Location

Area: 03 – Bay County – Beach
Street #: 5801&5803
Street Name: Pinetree
Unit #: A,B,C&D
State: FL
Zip Code: 32408
County: Bay
Sub Area: 0323 – Beach – South of Grand Lagoon
Subdivision: Biltmore Beach 1st Add
Community/Resort: None
Waterfront: No
Parcel ID: 31987-000-000&31986-000-000
Elementary School: Patronis
Middle School: Surfside
High School: Arnold
Directions: Take Thomas Drive south towards beach, turn right or north on Luff Street, at end of Luff, turn left or west on Pinetree Avenue, property is down on the left or south side of street.
Legal Description: BILTMORE BEACH 1ST ADD LOT 11 BLK B ORB 3876 P 1747

General Property Info

Sub-Type: Multi Family
Design: N/A
Apx SqFt(Htd/Cooled): 3072
SqFt Source: Prop App Site
Full Baths: 4
Total Baths: 4
Year Built: 1980
Construction Status: Construction Complete
Garage Y/N: No
Lot Dimensions: 100X120
Acreage: 0.28
Lot Size (SqFt): 12000

Status Change Info

Under Contract Date: 2022-02-10
Sold Date: 2022-04-08
Sold Price/SqFt: 300.29
Sold Price/Acre: 3294642.86

Listing Info, Tax and Legal

HOA Fee: No
New Buyer Fee: No
Last Taxes: 1451
Last Tax Year: 2021
Brokerage Interest: No Interest
As Is: Yes

Remarks & Misc

Remarks: Fantastic opportunity for a multifamily investment. 2 buildings with 2 parcel IDs, 2 units in each building. Each unit (total of 4) is a 2BD/1BA. At only 3 blocks from the beach, this is an investors' dream and would make adorable vacation rentals. With some TLC and some perks like a golf cart, each unit is projected to generate $25-35K gross annually. Currently occupied with long term tenants, with a 30 day clause to move out after successful closing. Monthly gross rent income for the 4 units long-term is currently $4525. Add a swimming pool in the back for an unforgettable retreat. All unit metered for separate cable tv, water, electric and security lighting. Each unit has private storage/laundry area. All unit have new appliances.

More Information

Appliances

Dishwasher: Yes
Microwave: Yes
Range – Electric: Yes
Refrigerator: Yes

Furnished

Unfurnished: Yes

Rooms

Bedroom: Yes
Full Bathroom: Yes

Utilities

All Utilities: Yes
Water Connected: Yes
Septic Tank: Yes

Cooling

Central Air: Yes
Heat Pump: Yes

Property Features

Appliances: Dishwasher; Microwave; Range – Electric; Refrigerator Cooling: Central Air; Heat Pump Furnished: Unfurnished Rooms: Bedroom; Full Bathroom Utilities: All Utilities; Septic Tank; Water Connected

Room Information

Room Name	Dimensions	Length	Width
Bedroom	0 x 0	0.00	0.00
Bedroom	0 x 0	0.00	0.00
Full Bathroom	0 x 0	0.00	0.00
Bedroom	0 x 0	0.00	0.00
Bedroom	0 x 0	0.00	0.00
Bedroom	0 x 0	0.00	0.00
Bedroom	0 x 0	0.00	0.00
Bedroom	0 x 0	0.00	0.00

Listing Office: Sand Seeker Realty LLC

Last Updated: September – 24 – 2024

Information deemed reliable but not guaranteed.