2605 Redwood Street, Panama City Beach, FL 32408

Local realty services provided by:Better Homes and Gardens Real Estate Historic
2605 Redwood Street,Panama City Beach, FL 32408
$1,010,000
  • 10 Beds
  • 6 Baths
  • 4,432 sq. ft.
  • Multi-family
  • Active
Listed by: oscar d forero
Office: coldwell banker realty
MLS#:785031
Source:FL_BCMLS

Price summary

  • Price:$1,010,000
  • Price per sq. ft.:$227.89

About this home

Start 2026 with a strong, stabilized income property at 2605 Redwood Street, a well-maintained duplex consisting of two separate buildings, each featuring two apartments for a total of four units. This turnkey asset is fully leased and positioned to deliver immediate and reliable cash flow. The property offers a desirable unit mix of spacious 3-bedroom and 2-bedroom apartments, each with 1½ bathrooms, appealing to long-term tenants and supporting consistent occupancy. All apartments have been recently renovated. Recent capital improvements significantly enhance the property's value and reduce near-term maintenance, including brand-new flooring throughout, A/C unit is less than 4 years old, the roof was replaced in 2019, part of the siding on each building has been replaced, a newly installed septic tank. With all apartments currently rented, the property generates an estimated Net Operating Income of $70,000 annually, offering investors an attractive 7% cap rate. The combination of

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Home facts

  • Year built:1978
  • Listing ID #:785031
  • Added:1 day(s) ago
  • Updated:February 11, 2026 at 04:42 AM

Rooms and interior

  • Bedrooms:10
  • Total bathrooms:6
  • Full bathrooms:4
  • Half bathrooms:2
  • Living area:4,432 sq. ft.

Heating and cooling

  • Cooling:CentralAir
  • Heating:Central

Structure and exterior

  • Roof:Composition, Shingle
  • Year built:1978
  • Building area:4,432 sq. ft.
  • Lot area:0.19 Acres

Schools

  • High school:Arnold
  • Middle school:Surfside
  • Elementary school:Patronis

Utilities

  • Sewer:Public Sewer

Finances and disclosures

  • Price:$1,010,000
  • Price per sq. ft.:$227.89
  • Tax amount:$4,271 (2025)
The information being provided by Central Panhandle Association Of REALTORS® is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Central Panhandle Association Of REALTORS®. Better Homes and Gardens Real Estate Historic is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Better Homes and Gardens Real Estate Historic, a broker participant of Central Panhandle Association Of REALTORS®. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, including but not limited to open house information, square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Central Panhandle Association Of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Properties in listings may have been sold or may no longer be available. Copyright 2026 Central Panhandle Association Of REALTORS®. All rights reserved.

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