2605 Redwood Street, Panama City Beach, FL 32408
Local realty services provided by:CENTURY 21 Beggins Enterprises
2605 Redwood Street,Panama City Beach, FL 32408
$850,000
- 10 Beds
- 8 Baths
- 4,432 sq. ft.
- Multi-family
- Active
Listed by: oscar d forero, heather davis
Office: coldwell banker realty
MLS#:785031
Source:FL_BCMLS
Price summary
- Price:$850,000
- Price per sq. ft.:$191.79
About this home

Start 2026 with a strong, stabilized income property at 2605 Redwood Street, a well-maintained duplex consisting of two separate buildings, each featuring two apartments for a total of four units. This turnkey asset is fully leased and positioned to deliver immediate and reliable cash flow.
The property offers a desirable unit mix of spacious 3-bedroom and 2-bedroom apartments, each with 1½ bathrooms. All apartments have been renovated with new kitchen, new flooring throughout, and Energy saving appliances. appealing to long-term tenants and supporting consistent occupancy. All apartments have been recently renovated. Recent capital improvements significantly enhance the property's value and reduce near-term maintenance, including brand-new flooring throughout, A/C unit is less than 4 years old, the roof was replaced in 2019, part of the siding on each building has been replaced, a newly installed septic tank.
With all apartments currently rented, the property generates an estimated Net Operating Income of $70,000 annually, offering investors an attractive 7% cap rate. The combination of strong in-place income, recent upgrades, and minimal deferred maintenance makes this an ideal acquisition for investors seeking stable returns with limited operational risk.
Whether you're expanding an existing portfolio or entering the multifamily market, 2605 Redwood Street represents a compelling opportunity to secure a high-performing asset in the new year.
No signs on the property, please do not disturb tenants....
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Home facts
- Year built:1978
- Listing ID #:785031
- Added:129 day(s) ago
- Updated:June 20, 2026 at 03:04 PM
Rooms and interior
- Bedrooms:10
- Total bathrooms:8
- Full bathrooms:4
- Half bathrooms:4
- Rooms Total:10
- Kitchen Description:Electric Oven
- Living area:4,432 sq. ft.
Heating and cooling
- Cooling:CentralAir
- Heating:Central
- Central air:Yes
Structure and exterior
- Roof:Composition, Shingle
- Year built:1978
- Building area:4,432 sq. ft.
- Lot area:0.19 Acres
- Architectural Style:Duplex
- Construction Materials:Block, Concrete, VinylSiding
- Exterior Features:Patio
Schools
- High school:Arnold
- Middle school:Surfside
- Elementary school:Patronis
Utilities
- Sewer:Public Sewer
Finances and disclosures
- Price:$850,000
- Price per sq. ft.:$191.79
- Tax amount:$4,271 (2025)
Features and amenities
- Amenities:ElectricOven
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