819 Russ Lake DR Active Save Request In-Person Tour Request Virtual Tour
Panama City,FL 32404
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Subdivision No Named Subdivision
MLS Listing ID 769484
Style Duplex
Bedrooms 5
Full Baths 3
Year Built 1971
Annual Tax Amount $1,352
Tax Year 2024
Lot Size 0.310 Acres
Property Sub-Type Duplex
Property Description
Investor & Builder Alert! Multi-Use Duplex with Expansion Potential—FHA 203(k) Eligible!
Opportunity is knocking in Springfield! This permitted duplex offers 2,260 sq ft of rentable space on a .31-acre corner lot in a mixed-use zone—and it's eligible to be subdivided! Whether you're looking to build a second duplex, add a single-family home, or simply maximize rental income, the possibilities here are huge.
Live in one unit and rent the other, or lease both for passive income. The upper unit features 3 spacious bedrooms, 2 full baths, and an ensuite primary suite. The lower unit includes 2 bedrooms, 1 bath, and easy front/back yard access. Each unit has indoor laundry, separate utilities, and individual electrical and water meters—perfect for long-term tenants or short-term rental flexibility.
Renovations are underway and include:
✔️ New windows, subfloor, PEX plumbing & electrical wiring
✔️ New HVAC system & ductwork (upstairs)
✔️ Recessed lighting throughout
✔️ Tankless water heater
✔️ New roof (2019), new siding, exterior stairs to upper unit
✔️ RV hookups + large storage shed
Public utilities + natural gas onsite. Located in a quiet neighborhood just 7 miles from Tyndall AFB and 25 minutes to Panama City Beach—home to the world's most beautiful beaches.
Bonus: Construction materials on site convey with sale.
This is a rare chance to capitalize on Springfield's growth. Schedule your showing today and bring your vision to life!
Location
State FL
County Bay
Area 02 - Bay County - Central
Interior
Heating Central
Cooling Central Air
Exterior
Utilities Available Electricity Available
Building
Dwelling Type Duplex
New Construction No
Schools
Elementary Schools Parker
Middle Schools Rutherford Middle
High Schools Rutherford