Do Real Estate on the Go!
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$499,900
9 Beds
7 Baths7 full baths
--sqft
507 N Gray Ave, Panama City, FL 32401
$499,900
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Multi Family
Built in 1930
$-- HOA
0.48 acre lot
--/sqft
Description
CURRENTLY UNDER CONTRACT, SELLER ACCEPTING BACKUP OFFERS.
FULLY OCCUPIED | INCOME PRODUCING MULTI-FAMILY | PRIME PANAMA CITY LOCATION
Investor opportunity in the heart of Panama City! This 6-unit multi-family property is 100% occupied and generating immediate cash flow with multiple income streams and value-add potential.
Situated on a large lot at 507 N Gray Ave, this property features a main house with separate upstairs apartment PLUS a detached 4-unit apartment building (former Russell Motel) - making it ideal for long-term rentals, workforce housing, travel nurse housing, or furnished rentals.
Current Performance:
Total Units: 6
9 Bedrooms / 8 Bath...
- Houzeo last checked: 54 Minutes ago
- Listing updated: June 1, 2026 at 8:34 am
- Listing Provided by: Regina M Kukla (850) 319-4596 , Jennifer H Cole (701) 520-4521 | Counts Real Estate Group Inc (850) 249-1414
- Source: Bay/Panama City/Central Panhandle MLS-FL | MLS#: 787457
Property Details
Status
Pending
Type
Multi Family
No. of Stories
-
County
City
Neighborhood
Year Built
1930
HOA Fees
-
Finished Area
- sqft
Lot Size
0.48 acre lot
Basement Area
- sqft
MLS Name
Bay/Panama City/Central Panhandle MLS
MLS Number
787457
MLS Status
ActiveUnderContract
Days on Market
67
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Houzeo Corp. holds real estate brokerage licenses in Alabama (License No. 000157023 - 0) and Texas (License No. 9013396)
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New York State Fair Housing Notice .
