For sale Multi-Family Home

Listed May 30, 2026

$578,000 Est. $3,823/mo

116 Springfield Avenue

  • 6

    Beds

  • 6

    Baths

  • 2,907

    Sq ft

The story

  • Pool

Serious price improvement. The numbers make great sense, solid ROI. Add to your portfolio today! 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

Facts & features

Home type

Multi-Family Home

Year built

1952

Price per sq ft

$199

Included features

  • Pool

    Yes

  • Cooling

    Window Units

  • Appliances

    Electric Cooktop, Electric Oven

  • Roof

    Shingle

  • Sewer

    Public Sewer

Mortgage calculator

Estimated monthly payment

$3,823 /mo

7% rate · 30-yr fixed · 20% down

  • Principal & interest $3,076
  • Property tax $578
  • Insurance $169

Includes principal, interest, taxes & insurance.

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Listing Broker

Beachy Beach Real Estate

Broker Name

Beachy Beach Real Estate

Agent

Heather Fox

Location

Panama City FL 32401