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Harrison Lilly Team

Owner/Operator | Harrison Lilly Emerald Coast | Harrison Lilly Realty | PLACE

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35103536 3510/ 3536 Saint John St , Panama City, FL 32401
$6,225,000
Est. Payment: $34,392.23/mo
1.51 Acres
Status: Active | Days on site: 243
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ELCR - E29927
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Harrison Lilly Team
Owner/Operator

House Description

MAJOR PRICE IMPROVEMENT - This stabilized 50-unit garden-style apartment community presents an exceptional opportunity to acquire a well-maintained, income-producing asset with significant recent capital improvements and long-term upside. The property features a highly desirable unit mix of 8 one-bedroom, 20 two-bedroom, 12 three-bedroom, and 10 four-bedroom apartments, with 42 units renovated since 2020, showcasing updated flooring, fresh paint, windows, and modern fixtures. Ownership has invested heavily in the property's infrastructure, including new metal roofs, upgraded electrical panels, and numerous HVAC and water heater replacements, minimizing near-term capital expenditures. Additional revenue is generated through an on-site laundry facility, while a separate office building with storage provides efficient on-site management and operational support. The community maintains consistently strong occupancy and is further enhanced by an assumable $4.57 million fixed-rate, 3.75% non-recourse loan (subject to lender approval), providing a significant financing advantage in today's interest rate environment. Ideally located near major employers, schools, shopping, dining, and just minutes from Panama City Beach, the property benefits from strong rental demand in one of Northwest Florida's fastest-growing markets. Steady occupancy and an assumable $4.57M, 3.75% fixed-rate non-recourse loan enhance the investment's strength in today's lending environment. Positioned near major retailers, schools, employment centers, and within minutes of Panama City Beach, the property sits in a high-demand rental corridor with long-term growth potential. A recent price adjustment further improves the opportunity for investors seeking stability and upside.

Highlights

Listed by Marcy L O'Donnell , 848-220-5555 Luxe Coastal Realty , 848-220-5555. Emerald Coast Multiple Listing Services

Property Type

Commercial Sale

Lot/Acreage
1.51

County

Bay

Area

27 - Bay County

Listing ID

990826

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Interior Features

Exterior Features

Principal Interest
$34,392
Taxes
$3,968

Home Price

$6,225,000

Loan Details

30 yrs
7.374%

Down Payment

20%
$1,245,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$34,392.23

Principal

Taxes

Principal Taxes HOA Total
Monthly $34,392.23 $3,968.44 $0.00 $38,360.67
Yearly $412,706.74 $47,621.25 $0.00 $460,327.99
Total $12,381,202.21 $1,428,637.50 $0.00 $13,809,839.71

Today's Rates

30 Year

7.37%

20 Year

7.27%

15 Year

6.8%

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Market insight data is pulled from the same city as the listing being viewed (Panama City, FL).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Information provided by Emerald Coast Multiple Listing Services, and is deemed reliable but not guaranteed accurate.

IDX service by Blueroof 360

Data last updated: 2026-10-07T06:31:40.000Z

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