405 Massalina DR, Panama City, FL 32401
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405 Massalina DR, Panama City, FL 32401
405 Massalina DR, Panama City, FL 32401
405 Massalina DR, Panama City, FL 32401
405 Massalina DR, Panama City, FL 32401
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Michael Herring

Michael Herring

+1(850) 321-0917
$ 865,000
Est. payment /mo
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405 Massalina DR Panama City, FL 32401

7 Beds

6 Baths

2,988 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,988 sqft

Price per Sqft $289

Subdivision Cove

MLS Listing ID 792225

Bedrooms 7

Full Baths 6

HOA Y/N No

Year Built 2025

Lot Size 6,098 Sqft

Acres 0.14

Property Sub-Type Quadruplex

Property Description

$7100 per month or $85,200 per year in rental income from the carriage house and quadplex/fourplex. Perfect for a DSCR loan where your rental income pays for your mortgage, plus you get a dock and a place to park your boat on deep water.
Waterfront masterpiece with deep water access to the Bay and the Gulf of Mexico.
This is the most versatile quadplex/fourplex plus carriage house (comes fully furnished) in Panama City.
Here is the rental income breakdown:
Carriage house = $1750 per month;
Apartment 1 (Civil Contractor) = $1450 per month;
Apartment 2 (Realtor) = $1450 per month; Apartment 3 (Property Maintenance Man) = $1,000 per month (reduced because he takes care of the lawn and pool - you could charge $1450); Apartment 4 (Josh) = $1450 per month
Total income = $7100 per month.

New custom landscaping and beautiful decking, shared dock with fish cleaning station. Location is easy to access to newly renovated downtown entertainment with shopping, dining, concerts and ongoing festivities.

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 use the carriage house a primary residence and rent out the fourplex for excellent rental income. With its unmatched flexibility, new construction quality, and breathtaking bayou views, this property checks all the boxes.

Location

State FL

County Bay

Community Short Term Rental Allowed

Area 02 - Bay County - Central

Interior

Heating Central, Electric

Cooling Central Air, Ceiling Fan(s)

Fireplace No

Appliance Gas Range, Tankless Water Heater

Exterior

Community Features Short Term Rental Allowed

Utilities Available Natural Gas Available

Waterfront Description Bayou,Seawall

Water Access Desc Bayou,Seawall

View Bayou

Roof Type Metal

Porch Covered, Porch

Private Pool No

Building

Lot Description Sprinkler System, Paved

Sewer Public Sewer

New Construction Yes

Schools

Elementary Schools Cherry Street

Middle Schools Jinks

High Schools Bay

Others

Restrictions Short Term Rentals Allowed

Tax ID 20456-000-000

Special Listing Condition Listed As-Is

Listed by Keller Williams Realty Emerald
Michael Herring

Michael Herring

Broker Associate | License ID: BK3256219

+1(850) 321-0917

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