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401 & 405 Massalina Drive, Panama City, FL 32401

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For Sale

$1,850,000

9 beds • 7 baths

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • New Construction
    Age

Explore this Property

ATTENTION!! ATTENTION!! ATTENTION!! 3 SEPARATE STRUCTURES, 2 SEPARATE PARCELS, 1 AWESOME PRICE!! 401 AND 405 Massalina Drive - Waterfront Opportunity on Massalina Bayou! Discover an exceptional investment OR lifestyle opportunity with 2 separate parcels sold together on the scenic Massalina Bayou. This RARE WATERFRONT package includes a NEW CONSTRUCTION (2025) 3-bed, 2-bath MAIN home with a private pool, a NEW CONSTRUCTION (2025) 2-bed, 1-bath CARRIAGE house, AND (4) four 1-bed, 1-bath waterfront apartments-all positioned to generate immediate SHORT -TERM or LONG-TERM income. Property Features: Main Residence (New Construction), 3 Bedrooms - 2 Bathrooms, Private pool with water views, Scheduled to be fully furnished within the next few weeks. Turn-key as a primary residence or ready for both short- and long-term rentals. High-end finishes and thoughtful coastal design throughout Carriage House (New Construction). 2 Bedrooms - 1 Bathroom. Currently leased with a 6-month tenant-income from day one, Modern layout with premium materials and stunning waterfront backdrop. Four Waterfront Apartments, Each unit: 1 Bedroom - 1 Bathroom. Two of the four units currently rented and producing income. Ideal for long-term tenants or short-term rentals, Waterfront setting offers exceptional demand and rental potential Additional Highlights Newly constructed dock connecting both parcels, creating the feel of one expansive waterfront estate. Beautifully manicured landscaping throughout. Direct views of Massalina Bayou offering serene surroundings and a true coastal lifestyle. Prime location near top shopping, dining, entertainment, and local attractions. This unique combination of parcels provides endless possibilities-multigenerational living, a fully income-producing investment, or a luxurious primary residence with rental opportunities built in. With its unmatched flexibility, new construction quality, and breathtaking bayou views, 401 & 405 Massalina Drive is a ONE-OF-A-KIND chance to secure a premier waterfront property with incredible income potential. The number of bedrooms , bathrooms, and square footage represented in the listing is a total of all 3 structures that are being offered for sale. All measurements and dimensions to be verified by the Buyer.
MLS# 781413

Courtesy Of Beach Haven Realty

(770) 596-6599

Property Features

  • Age
    New Construction
  • Amenities
    Porch, Patio, Ceiling Fan, Water Front
  • Appliances
    Dryer, Dishwasher, Microwave, Washer
  • Cooling System
    Ceiling Fan(s)
  • Floor Covering
    Tile
  • Lot Size
    0.25 Acres
  • Rooms
    Den, Living Room

Map and Directions

Directions to 401 & 405 Massalina Drive, Panama City, FL 32401

Home seller CENTURY 21 Ryan Realty

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Ryan Realty

(850) 233-7926
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Copyright © 2025 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.