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116 Springfield Avenue, 
Panama City, FL 32401

$608,000


6

Beds


6

Baths


2,907

Sq Ft


Multi-Family

Active

Listed by

Heather Fox

Beachy Beach Real Estate

Last updated:

May 31, 2026, 02:26 PM

MLS#

790574

Source:

FL BCMLS

About This Home

116 Springfield Avenue

Welcome to a turnkey income-producing investment opportunity designed for ease, efficiency, and long-term value. Remodeled in 2021, this unique property features six detached single-family units, each offering one bedroom, one spacious bathroom, a comfortable living area, with a functional kitchen. Fully occupied and currently generating $63,900 in annual gross rental income, this property offers immediate cash flow with rent rolls available for review. Each unit was thoughtfully updated in 2021 with major improvements including 30-year dimensional shingle roofs, energy-efficient windows, updated electrical wiring, fresh sheetrock, interior paint, luxury vinyl plank flooring, new kitchen cabinetry, and updated countertops. For streamlined management, each unit is individually metered for both water and electricity, helping simplify operations and reduce owner responsibility. With six separate dwellings, modernized systems, and established rental income already in place, this property is a strong addition to any investment portfolio. Whether you are looking to expand your rental holdings, secure consistent income, or invest in a low-maintenance multi-unit property, this turnkey opportunity is ready to perform from day one. Buyer to confirm measurements. Some photos edited and staged

Home Facts

Multi-Family

6 Baths

6 Bedrooms

Built in 1952

Price Summary

608,000

$209 per Sq. Ft.

MLS #:

790574

Last Updated:

May 31, 2026, 02:26 PM

Added:

2 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

6

Bathrooms

Total Bathrooms:

6

Full Bathrooms:

6

Interior

Living Area:

2,907 Sq. Ft.


Structure

Structure

Building Area:

2,907 Sq. Ft.

Year Built:

1952


Lot

Lot Size (Sq. Ft):

13,503


Finances & Disclosures

Finances

Price:

$608,000

Price per Sq. Ft:

$209 per Sq. Ft.

Source:FL BCMLS
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®. Beachy Beach Real Estate is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Beachy Beach Real Estate, 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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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.