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141 Cheri Lane
Panama City, FL 32404

$650,000

Beds: 9
Baths: 5 | 3
Sq. Ft.: 4,280
Type: Condo
Listing #986541
This impressive two-story quadplex in Panama City presents a prime investment opportunity. Fully rented and generating $4,950 monthly, this eight-bedroom, nine-bathroom property spans more than 4,280 square feet of heated and cooled space. With a new roof, newer water heaters and updated interiors and exteriors, this property offers both stability and modern amenities. Comprising three two-bedroom, 1.5-bath units (972 square feet each) and one spacious three-bedroom, two-bath unit (1,364 square feet), this property is designed to attract and retain tenants. Each unit features updated flooring, refreshed kitchens and new paint throughout. The exterior has been similarly revitalized, ensuring excellent curb appeal. Ideal for investors and military personnel, this property is located in a great area, offering easy access to local amenities and services. With a new HVAC system and updated fixtures, this quadplex is fully equipped to continue generating reliable rental income.
Property Features
Location Information
County: Bay
Sub Area: 2702 Bay Central SE
MLS Area: Bay County
Latitude: 30.132476
Longitude: -85.597317
Project Name/Subdivision: No Named Subdivision
Directions: From Panama City Mall, Turn left onto N Cove Blvd/Martin Luther King Jr Blvd. Turn left onto US-98 BUS E. Turn left onto Cheri Ln. The property is on the left.
Interior Features
Total Rooms: 14
Interior: Newly Painted
Full Baths: 5
1/2 Baths: 3
Cooling: Central Air
Appliances: Water Heater - Elect
Exterior Features
Style: Fourplex
Stories: 2
Lot Features: Cleared, Dead End, Interior, Level
Lot Size in Acres: 0.26
Lot Size in Sq. Ft.: 11,325
Dimensions: 135x84
Zoning: Resid Multi-Family
Condition: Renovated, Construction Complete
Has Waterfront: No
Is One Story: No
School
Elementary School: Parker
Middle School: Rutherford ( Middle )
High School: Rutherford
Additional Information
Property Type: CND
Year Built: 1984
Status: Active
Tax Year: 2024
Tax Amount: $5,747.79


$ per month
Year Fixed. % Interest Rate.
Principal + Interest: $
Monthly Tax: $
Monthly Insurance: $
Term
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Down Payment
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List Price:
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Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This program only provides an estimate.
Listing Courtesy of Scenic Sotheby's International Realty
© 2026 Emerald Coast Association of REALTORS®. All rights reserved.
Copyright 2026 Emerald Coast Association of REALTORS®. All rights reserved.
IDX information is provided exclusively 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 is Deemed Reliable, but is Not Guaranteed Accurate by the Emerald Coast Association of REALTORS® MLS. (iHomefinder, Inc Member Number 28165)
ECAR MLS data last updated at January 22, 2026, 10:42 PM CT