Seacrest Advisors is pleased to announce the exclusive offering of Bay Breeze Apartments. Bay Breeze is a 44-unit garden style apartment community located in Panama City, Florida. The assets consists of two phases which were built in 1985 and are adjoined by a 0.85-acre improved parcel where a new owner can immediately add common area amenities or decide to build additional units in the future. The community has a very favorable unit mix comprised of all two-bedroom & one-bathroom units that average 910 square feet each. The north phase, which consists of 20 units, presents a new owner with the immediate opportunity to raise the market rents by $125 / unit through interior unit renovations, as already proven concept in the south phase. Collectively, Bay Breeze’s average in place rents are approximately 14% below submarket values, illustrating further elevation in the potential revenue stream. Bay Breeze is located in a residential neighborhood setting with several nearby public amenities such as the John B. Gore park and Patterson Park. The community is also a few minutes away from Downtown Panama City which boats multiple trendy restaurants and other retail destinations. Additionally, Bay Breeze is also a few minutes away from the Tyndall Air Force Base, one of the region’s largest employers. Bay Breeze offers a new owner the rare opportunity to acquire a well-maintained asset with multiple avenues to further enhance the value in a growing submarket.