James Avenue Townhomes offer a compelling multifamily investment opportunity in the heart of Panama City, FL. The 12-unit townhome community at 1623 N James Ave benefits from its central location near retail corridors, dining options, and major employment hubs. With stabilized rents positioned below market, the property presents a clear value-add opportunity through rental upside, while maintaining a consistent tenant base in a high-demand rental market. Constructed in 1983 with wood frame construction, each unit offers a spacious 2-bedroom, 1.5-bath layout across approximately 972 square feet. Significant capital improvements were made between 2019 and 2023, including new roofs (2019), upgraded water heaters (2023), modern appliances, flooring, and bathroom fixtures (2019–2020), as well as updated windows, doors, and metal roofs. Each unit is individually metered for water and electric, providing operational efficiency for future ownership. As Panama City continues to attract residential and commercial development, centrally located assets like James Avenue Townhomes are well-positioned to benefit from increased demand, rising rental rates, and long-term appreciation. Investment Highlights Tenants pay for both electric and water Stabilized deal with steady rents at $1,300/month Located near strong retail tenants Spacious units all units renovated Property located outside of flood zone