209 Sherman Avenue
Panama City, FL 32401
$275,000
Beds:
4
Baths:
4
Sq. Ft.:
1,920
Type:
House
Listing #1012259
INVESTMENT OPPORTUNITY -- FOUR FULLY OCCUPIED RENTAL UNITS! 209 Sherman Ave features four currently occupied apartment units, generating $750 per unit per month, or $3,000 in gross monthly rental income / $36,000 annually. Each unit is individually metered. Owner-reported utilities average approximately $250/month. Property taxes are approximately $2,500 annually. The property consists of two buildings on approximately 0.23 acres with off-street parking. Built in 1947, the property offers an established rental setup with four income-producing units in a convenient Panama City location. Strong opportunity for an investor seeking existing rental income and an occupied multifamily property. Buyer to verify all unit count, square footage, room dimensions, rental income, expenses, utility arrangements, taxes, insurance, zoning, permits, property condition and all other information deemed important by buyer.
Property Features
County:
Bay
Sub Area:
2702 Bay Central SE
MLS Area:
Bay County
Latitude:
30.15041
Longitude:
-85.633798
Project Name/Subdivision:
No Recored Sub
Directions:
Traveling East on Hwy 98, make a right on Sherman Ave. Travel approximately half a mile and the property will be on the Right.
Total Rooms:
6
Rooms:
Bedroom, Kitchen, Living Room
Full Baths:
4
Cooling:
Window Unit(s)
Floors:
Tile
Energy Features:
AC - Window/Wall
Style:
Duplex
Foundation:
Slab
Roof:
Metal
Water Source:
Public
Condition:
Construction Complete
Has Waterfront:
No
Is One Story:
No
Elementary School:
Cherry Street
Elementary School:
Cherry Street
Middle School:
Jinks
High School:
Bay
Property Type:
SFR
Property SubType:
Duplex - All Units
Year Built:
1947
APN:
22427-000-000
Status:
Active
Tax Year:
2025
Tax Amount:
$2,835.1
$ per month
Year Fixed. % Interest Rate.
| Principal + Interest: | $ |
| Monthly Tax: | $ |
| Monthly Insurance: | $ |
Listing Courtesy of EXP Realty LLC
© 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)
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 September 18, 2026, 7:34 PM CT
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