209 Sherman Avenue, Panama City

$250,000

4 Beds
4 Baths
1,920 Sqft
0 Acre
0 Garage

INVESTMENT OPPORTUNITY -- FOUR FULLY OCCUPIED RENTAL UNITS! 209 Sherman Ave features four currently occupied apartment units, generating $750 per unit per month, or $3,000 in gross monthly rental income / $36,000 annually. Each unit is individually metered. Owner-reported utilities average approximately $250/month. Property taxes are approximately $2,500 annually. The property consists of two buildings on approximately 0.23 acres with off-street parking. Built in 1947, the property offers an established rental setup with four income-producing units in a convenient Panama City location. Strong opportunity for an investor seeking existing rental income and an occupied multifamily property. Buyer to verify all unit count, square footage, room dimensions, rental income, expenses, utility arrangements, taxes, insurance, zoning, permits, property condition and all other information deemed important by buyer.

Essential Information
MLS® #1012259
Price$250,000
Bedrooms4
Bathrooms4.00
Full Baths4
Square Footage1,920
Year Built1947
TypeResidential
Sub-TypeDuplex - All Units
StyleDuplex
StatusActive
Community Information
Address209 Sherman Avenue
Area27 - Bay County
SubdivisionNo Recored Sub
CityPanama City
CountyBay
StateFL
Zip Code32401
Utilities

Electric, Public Sewer, Public Water

Interior
CoolingWindow Unit(s)
Exterior
RoofMetal
ConstructionBlock
FoundationSlab
School Information
ElementaryCherry Street
MiddleJinks
HighBay
Listing Details
OfficeEXP Realty LLC
Property History
Price Reduced from $275,000 to $250,000
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Listing information last updated on October 14th, 2026 at 4:52pm CDT.