215 N MacArthur Avenue, Panama City, FL 32401

• 7 beds |
• 4 baths |
• 3,184 sqft

Property Description

This property will sell quickly because of the tremendous investment income. 3 individual residences onsite. 213 N. Macarthur a 2 bedroom / 2 bathroom residence (above garage) could rent for $1850 per month. 213 1/2 N. Macarthur a 1 bedroom / 1 bathroom (below garage) residence could rent for $1,000 per month. $2850 per month in potential rental income - enough to cover your mortgage - so you get to live in the main home which boasts 4 bedrooms / 2 bathrooms and a generous 1756 square feet and rent the 2 apartments. The entire property is a whopping 3184 square feet on a 1/3 acre. There is a pool in the backyard that serves as an anchor for both the main home and two apartments. Tenants will pay extra for this type of amenity. Or, utilize both or one of the apartments for a mother-in-law quarters. Located in the historic Cove neighborhood, close to all major roads, 23rd Street, 15th Street, Highway 77. Located very close the Ascension Sacred Heart, so perfect for a doctor that wants the additional income. Also, right in the middle of town where you can get to Tyndall Air Force Base to the east, the Navy Base to the west, and close enough to Panama City Beach for a day trip. This home old Florida charm with original hardwood floors in the main living area, large front porch, and a newer metal roof. The kitchen has been completely updated and features all stainless appliances, and a Rinnai tankless hot water system PLUS it comes with a large detached two car garage. Gas water heater and gas heat in the upstairs apartment. Downstairs apartment has a window unit for heat and air. - alley parking for 3 cars at the efficiency apartment -2 cars , 1 behind the other can park on the upstairs apartment driveway (not covered) The entire property is on city water and sewer. Come find out why so many people are flocking to the Cove - make this home your own, it will not last long.

Listing Status:

Active

Date Added:

October 26, 2025 at 05:00AM

Listing Office:

Keller Williams Realty SRB : 850-654-2900

Listing Agent:

Mike Herring : 850-321-0917

MLS ID:

988363

Interior

• Appliances: CooktopMicrowaveElectric RangeGas Water HeaterTankless Water Heater
• Flooring: Hardwood
• A/C:
• Heating:

Exterior

• Style: Contemporary
• Parking: Attached Carport

Construction

• General: 2

Location

• Originating MLS: Emerald Coast Association of REALTORS®
• County: Bay

Lot

• Zoning: Resid Single Family20736-000-000

Utilities

• Utilities: Electricity ConnectedCable Available
• Sewer: 0

Financial

• Source: Emerald Coast Association of REALTORS®

This listing courtesy of Mike Herring, Keller Williams Realty SRB