Prime income-producing multifamily asset in Marbella, Panama City. Property consists of 10 rental units within an existing 2,027 SqFt building situated on a 774.38 m² development site. Currently generating approximately $267,600 gross annual income with stabilized occupancy above 95%. Zoned 1ZM6 with potential for future residential development of up to 15 stories. Excellent opportunity to acquire a cash-flowing asset while benefiting from long-term redevelopment potential in one of Panama City's most desirable and walkable districts. Located near banking headquarters, shopping centers, hospitals, restaurants, Casco Viejo, and Tocumen International Airport. Ideal for investors, developers, and multifamily operators. Buyer to verify all zoning, development rights, dimensions, and income figures during due diligence.
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Panama City is located in Florida. Panama City, Florida has a population of 34,521. Panama City is less family-centric than the surrounding county with 24.07% of the households containing married families with children. The county average for households married with children is 27.71%.
The median household income in Panama City, Florida is $51,569. The median household income for the surrounding county is $60,473 compared to the national median of $69,021. The median age of people living in Panama City is 39.2 years.
The average high temperature in July is 90 degrees, with an average low temperature in January of 42 degrees. The average rainfall is approximately 59.8 inches per year, with 0 inches of snow per year.
