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1400 Gulf Ave 10 Unit Apartment Building $875,000 ($87,500/Unit) 7.20% Cap Rate Panama City, FL 32401
Executive Summary
2019 Roof
Exterior Hardiboard
Windows replaced
Doors replaced
Water heaters replaced 7 of 10 units
Air Conditioning
5 units with hot/cold framed into wall
5 units with mini-splits
Plumbing
Electrical (interior & exterior)
Bathrooms
Appliances
Lease all units to HUD-VASH program at $1,030 per month
Add washer/dryer connections for increased rent
Lease all units to HUD-VASH program at $1,030 per month
*V-Rent means the voucher rent amount paid by HUD-VASH, tenant pays the balance
Units 10
Total SF 3,944
No of Bldgs 1
No of Stories 1
Year Built 1977
Roof Type/Age Built-up/2019
Parcel # 18793-000-000
Acres 0.39 +/-
Tenant Pays Electric, water, sewer
Landlord Pays Garbage
Washer/Dryer No connections
Exterior Hardiboard
Windows replaced
Doors replaced
Water heaters replaced 7 of 10 units
Air Conditioning
5 units with hot/cold framed into wall
5 units with mini-splits
Plumbing
Electrical (interior & exterior)
Bathrooms
Appliances
Lease all units to HUD-VASH program at $1,030 per month
Add washer/dryer connections for increased rent
Lease all units to HUD-VASH program at $1,030 per month
*V-Rent means the voucher rent amount paid by HUD-VASH, tenant pays the balance
Units 10
Total SF 3,944
No of Bldgs 1
No of Stories 1
Year Built 1977
Roof Type/Age Built-up/2019
Parcel # 18793-000-000
Acres 0.39 +/-
Tenant Pays Electric, water, sewer
Landlord Pays Garbage
Washer/Dryer No connections
Property Facts
| Price | $875,000 | Building Class | C |
| Price Per Unit | $87,500 | Lot Size | 0.39 AC |
| Sale Type | Investment | Building Size | 3,944 SF |
| Cap Rate | 7.20% | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1977 |
| Property Subtype | Apartment | Parking Ratio | 3.04/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | GC 1 - accommodate low-impact, small-scale, neighborhood retail and service uses in smaller storefront buildings | ||
| Price | $875,000 |
| Price Per Unit | $87,500 |
| Sale Type | Investment |
| Cap Rate | 7.20% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Building Size | 3,944 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1977 |
| Parking Ratio | 3.04/1,000 SF |
| Zoning | GC 1 - accommodate low-impact, small-scale, neighborhood retail and service uses in smaller storefront buildings |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 18793-000-000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $389,103 |
Property Taxes
Parcel Number
18793-000-000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$389,103
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1400 Gulf Ave