4021 Dolphin Dr 5 Unit Apartment Building $1,500,000 ($300,000/Unit) Panama City, FL 32408

Premier opportunity to acquire a fully renovated, five-unit multifamily property ideally positioned just steps from the white-sand beaches of Panama City Beach. Dolphin Drive Beach Cottages features five spacious 1-bedroom, 1.5-bath units—each approximately 714 SF—with modern interiors, private balconies, and on-site covered parking.
Currently operated as a short-term rental portfolio, the property offers a flexible investment profile suitable for Airbnb, mid-term, or long-term tenants. With professional property management in place, an investor can achieve stabilized returns while enjoying strong demand from beachgoers, snowbirds, and seasonal workers.
The property is directly across from the luxury beachfront community of Hadley’s Beach, adding long-term value and redevelopment potential into a similar luxury single-family or townhome development.
The location combines residential charm and convenience—tucked in a quiet neighborhood with a rare public boat ramp, yet moments from St. Andrews State Park, Emerald Coast Beaches, and the vibrant dining and entertainment corridor along Thomas Drive. This is a rare chance to own a high-performing coastal multifamily asset with both income and redevelopment appeal.