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Welcome to a Turnkey Investment Opportunity!This fully remodeled property at 116 Springfield Ave offers six detached single-family units, each featuring one bedroom, one spacious bathroom, a living area, and a kitchen. These units, completely updated in 2021, are fully occupied and generating $61,500 in annual gross income with rent rolls available. The updates include new (2021) 30-year dimensional shingle roofs, energy-efficient windows, updated electrical wiring, fresh sheetrock, paint, and luxury vinyl plank flooring, as well as new kitchen cabinets and countertops. Each unit is individually metered for water and electricity, ensuring efficient management. Professionally managed by ERA Neubauer Property Management, this property is an excellent addition to any investment portfolio. As an added bonus, the adjacent cleared lot (Parcel ID 24228-005-000) with mixed-use zoning is also listed for sale at 65,000, (MLS 766435) providing an ideal opportunity for additional development or other creative uses. Schedule your private showing today with your preferred real estate professional!
| DAYS ON MARKET | 264 | LAST UPDATED | 2/26/2025 |
|---|---|---|---|
| TRACT | NO RECORDED SUBDIVISION | YEAR BUILT | 1952 |
| COMMUNITY | 27 - Bay County | COUNTY | Bay |
| STATUS | Active | PROPERTY TYPE(S) | Single Family |
| Elementary School | Cherry Street |
|---|---|
| Jr. High School | Everitt |
| High School | Rutherford |
| PRICE HISTORY | |
| Prior to Feb 26, '25 | $605,000 |
|---|---|
| Feb 26, '25 - Today | $599,997 |
| ADDITIONAL DETAILS | |
| AIR | Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Cooktop, Electric Cooktop, Refrigerator |
| AREA | 27 - Bay County |
| LOT | 0.31 acre(s) |
| LOT DESCRIPTION | Cleared, Corner Lot |
| LOT DIMENSIONS | 154x100x154x101 |
| SEWER | Public Sewer |
| STORIES | 1 |
| STYLE | Traditional |
| SUBDIVISION | NO RECORDED SUBDIVISION |
| WATER | Public |
| ZONING | Resid Multi-Family |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listing provided by ERA Neubauer Commercial
The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is believed to be accurate but is not guaranteed.
All listings are provided courtesy of the Emerald Coast Association of Realtors
© 2025 Emerald Coast Association of REALTORS®, Inc. (ECARMLS). All rights reserved. Vendor Member Number: 28306
All listings are provided courtesy of the Emerald Coast Association of Realtors
© 2025 Emerald Coast Association of REALTORS®, Inc. (ECARMLS). All rights reserved. Vendor Member Number: 28306
This IDX solution is (c) Diverse Solutions 2025.