311 Pennsylvania Avenue, Lynn Haven, FL 32444
$1,450,000
Property Type:
Commercial for Sale
Square Footage:
8,000
Lot Size (sq. ft.):
22,651
Status:
Sold
Current Price:
$1,600,000
List Date:
2/05/2024
Last Modified:
11/25/2024
Description
*All units occupied and generating $12,950 a month*
311 Pennsylvania Ave consists of 2 separate 2 story buildings A & B. Each building contains 4 units (8 all together). Per owner each unit is 1000 SF with 2 bedrooms and 1 bathroom (16 bedrooms and 8 bathrooms all together), washer/dryer hookups are located in the storage closet outside each unit next to the front door on first floor units, on second floor units storage closet is located on balcony. All units have been completely remodeled with brand new stainless steel appliances, flooring, HVAC and water heaters, new wiring and plumbing. New roofs on both buildings and have been freshly painted on the exterior and interior. New landscaping and plenty of parking gives this property really great curb appeal.
Property is 375 feet from Leslie Porter Park right on the bay by the Bailey Bridge. The park comes equipped with a playground, a beach, picnic tables, bathrooms and a boat launch.
More Information MLS# 752344
Contract Info
List Price/SqFt: 200
List Date: 2024-02-03
List Price: $1,600,000
Current Price: $1,450,000
Sub-Type: Income Producing
Location
Sub Area: 0201 - Bay - Central NE
Community/Resort: None
Waterfront: No
Elementary School: Lynn Haven
Middle School: Mowat
High School: Mosley
Directions: Head north on Hwy 77, turn right on E Forth St, property is on the corner.
Area: 02 - Bay County - Central
Street #: 311
Street Name: Pennsylvania
Street Suffix: Avenue
State: FL
Zip Code: 32444
County: Bay
Subdivision: Bay Park Manor
Parcel ID: 08887-000-000
Legal Description: BAY PARK MANOR 102B4 LOTS 11,12 & 13 BLK J ***AND*** A PCL ADJOINING LOT 12 DESCR'D AS BEG AT INTER- SECTION OF EXTENDED R/W LINES OF N R/W 4TH ST & E R/W PENN AVE TH N 75.26' TO SW COR LOT 12 SELY ALG SLY LI OF SAID LOT 118.07' TO SE COR LOT 12 W 75.26' TO POB ORB 4741 P 1662
General Property Info
List Class: Apartment
Acreage: 0.52
Construction Status: Construction Complete
# of Units: 8
SqFt Unit: 1000
# of Stories in Building: 2
SqFt Tot Bldg: 8000
Year Built: 1984
Listing Info, Tax and Legal
HOA Fee: No
Remarks & Misc
Remarks: *All units occupied and generating $12,950 a month*
311 Pennsylvania Ave consists of 2 separate 2 story buildings A & B. Each building contains 4 units (8 all together). Per owner each unit is 1000 SF with 2 bedrooms and 1 bathroom (16 bedrooms and 8 bathrooms all together), washer/dryer hookups are located in the storage closet outside each unit next to the front door on first floor units, on second floor units storage closet is located on balcony. All units have been completely remodeled with brand new stainless steel appliances, flooring, HVAC and water heaters, new wiring and plumbing. New roofs on both buildings and have been freshly painted on the exterior and interior. New landscaping and plenty of parking gives this property really great curb appeal.
Property is 375 feet from Leslie Porter Park right on the bay by the Bailey Bridge. The park comes equipped with a playground, a beach, picnic tables, bathrooms and a boat launch.
Status Change Info
Sold Price/SqFt: 181.25
Sold Price/Acre: 2788461.54
Status: Sold
Under Contract Date: 2024-04-18
Sold Date: 2024-06-28
Sold Price: $1,450,000
Other
Year Built: 1984
Unit SqFt: 1000
Vacancy Rate: 0
Actual Gross Income: 155400
Expenses: 19255
Net Operating Income: 135198
Cap Rate: 8.5
# of Units: 8
Construction/Siding
Floor - Vinyl: 1
Roof - Composite Shngl: 1
Siding - Stucco: 1
Energy
AC - 2 or More: 1
AC - Central Elect: 1
Ceiling Fans: 1
Heat - Central Electric: 1
Water Heater - Electric: 1
Financing
Cash: 1
Conventional: 1
Utilities
Public Sewer - Connected: 1
Water Connected: 1
Floors in Unit/Home
Two: 1
Multi-Family
Year Built: 1984
# of Units: 8
Site Description
Corner Location: 1
Landscaped: 1
Property Features
Energy: AC - 2 or More; AC - Central Elect; Ceiling Fans; Heat - Central Electric; Water Heater - Electric
Financing: Cash; Conventional
Site Description: Corner Location; Landscaped
Utilities: Public Sewer - Connected; Water Connected
Listing Office:
Counts Real Estate Group Inc
Last Updated: November - 25 - 2024
Information deemed reliable but not guaranteed.