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819 Russ Lake Drive, Panama City, FL 32404

$200,000
: 5
BD
: 3
BA

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Sold Price: $200,000
List Price: $220,000
Closing Date: Apr 09, 2026
MLS#: 769484
Status: CLOSED
Type: Multifamily
Subtype: Duplex
Bedrooms: 5
Bathrooms: 3
Lot Size: 13,547
Neighborhood: Bay - Central SE

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Property Description

Investor Alert! Duplex + Big Lot with Expansion Potential - FHA 203(k) Eligible! Opportunity knocks in Springfield! This 2,260 sq ft permitted duplex sits on a large .31-acre corner lot—zoned mixed-use with the option to build another duplex or rezone for single-family residential. Live in one unit and rent the other, or lease both for instant income. Upstairs: 3 beds / 2 baths + ensuite primary Downstairs: 2 beds / 1 bath + yard access Each unit features indoor laundry, separate utilities, and individual meters—ideal for long- or short-term tenants. Upgrades include: new windows, PEX plumbing, electrical wiring, HVAC & ductwork, recessed lighting, tankless water heater, 2019 roof, new siding, exterior stairs, RV hookups & storage shed. Just 7 miles to Tyndall AFB and 25 minutes to Panama City Beach. Bonus: construction materials on site convey! Expand, rezone, or rent—this property offers options and income! Schedule your showing and Let's Make Deal Today!

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Additional Information

Acres: 0.31
Elementary School: Parker
High School: Rutherford
Lot Dimensions: 97x140
Middle School: Rutherford Middle
Neighborhood: Bay - Central SE
Project Facilities: Short Term Rental Allowed
Subdivision: No Named Subdivision
Utilities: Electricity Available
Year Built: 1971