1400 Gulf Ave
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1400 Gulf Ave
10 Unit Apartment Building $900,000 ($90,000/Unit) 6.50% Cap Rate Panama City, FL 32401
Investment Highlights
- Around 25% rental upside
- The property is located off 15th Street in Panama City
- Top three largest vacation destinations in the country.
- Strong occupancy and collections
- Downtown Panama City is less than two miles from the site, offering major shopping centers, dining, and other tourist attractions.
- Locational benefits along with offering floorplans make this a highly attractive rental option for those working at one of the many close by major eco
Executive Summary
Broker of Record
Kyle Matthews
License No. CQ1052263 (FL)
(866) 889-0550
Matthews Real Estate Investment Services
1600 West End,
Ste. 1500 Nashville, TN 37203
Kyle Matthews
License No. CQ1052263 (FL)
(866) 889-0550
Matthews Real Estate Investment Services
1600 West End,
Ste. 1500 Nashville, TN 37203
Property Facts
| Price | $900,000 | Apartment Style | Low Rise |
| Price Per Unit | $90,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.39 AC |
| Cap Rate | 6.50% | Building Size | 4,600 SF |
| Gross Rent Multiplier | 7.71 | No. Stories | 1 |
| No. Units | 10 | Year Built | 1977 |
| Property Type | Multifamily | Parking Ratio | 2.61/1,000 SF |
| Property Subtype | Apartment |
| Price | $900,000 |
| Price Per Unit | $90,000 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| Gross Rent Multiplier | 7.71 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 4,600 SF |
| No. Stories | 1 |
| Year Built | 1977 |
| Parking Ratio | 2.61/1,000 SF |
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | - |
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PROPERTY TAXES
| Parcel Number | 18793-000-000 | Improvements Assessment | $304,721 |
| Land Assessment | $47,587 | Total Assessment | $321,573 |
PROPERTY TAXES
Parcel Number
18793-000-000
Land Assessment
$47,587
Improvements Assessment
$304,721
Total Assessment
$321,573
zoning
| Zoning Code | GC 1 (accommodate low-impact, small-scale, neighborhood retail and service uses in smaller storefront buildings) |
| GC 1 (accommodate low-impact, small-scale, neighborhood retail and service uses in smaller storefront buildings) |
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1400 Gulf Ave
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