Date
Details
Price
Change
Source
11/08/2025
Listed
$1,850,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
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1/69
$1,850,000
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Property Description
ATTENTION!! ATTENTION!! ATTENTION!! 3 SEPARATE STRUCTURES, 2 SEPARATE PARCELS, 1 AWESOME PRICE!! 401 AND 405 Massalina Drive - Waterfront Opportunity on Massalina Bayou! Discover an exceptional investment OR lifestyle opportunity with 2 separate parcels sold together on the scenic Massalina Bayou. This RARE WATERFRONT package includes a NEW CONSTRUCTION (2025) 3-bed, 2-bath MAIN home with a private pool, a NEW CONSTRUCTION (2025) 2-bed, 1-bath CARRIAGE house, AND (4) four 1-bed, 1-bath waterfront apartments-all positioned to generate immediate SHORT -TERM or LONG-TERM income. Property Features: Main Residence (New Construction), 3 Bedrooms "¢ 2 Bathrooms, Private pool with water views, Scheduled to be fully furnished within the next few weeks. Turn-key as a primary residence or ready for both short- and long-term rentals. High-end finishes and thoughtful coastal design throughout Carriage House (New Construction). 2 Bedrooms "¢ 1 Bathroom. Currently leased with a 6-month tenant-income from day one, Modern layout with premium materials and stunning waterfront backdrop. Four Waterfront Apartments, Each unit: 1 Bedroom "¢ 1 Bathroom. Two of the four units currently rented and producing income. Ideal for long-term tenants or short-term rentals, Waterfront setting offers exceptional demand and rental potential Additional Highlights Newly constructed dock connecting both parcels, creating the feel of one expansive waterfront estate. Beautifully manicured landscaping throughout. Direct views of Massalina Bayou offering serene surroundings and a true coastal lifestyle. Prime location near top shopping, dining, entertainment, and local attractions. This unique combination of parcels provides endless possibilities-multigenerational living, a fully income-producing investment, or a luxurious primary residence with rental opportunities built in. With its unmatched flexibility, new construction quality, and breathtaking bayou views, 401 & 405 Massalina Drive is a ONE-OF-A-KIND chance to secure a premier waterfront property with incredible income potential. The number of bedrooms , bathrooms, and square footage represented in the listing is a total of all 3 structures that are being offered for sale. All measurements and dimensions to be verified by the Buyer.
Full Property Details
Full Property Details for 401 & 405 Massalina Dr
General
- Price: $1,850,000
- Taxes: $786 (2024)
- Status: Active
- Type: Multi-Family
- Source: Bay_County
- MLS ID: 781413
- Updated: 1/6/2026
- Added to Site: 71 day(s) ago
Interior
- Number of Rooms: 16
- Appliances: Gas Range, Tankless Water Heater
Rooms
Bathrooms
- Total Bathrooms: 7
- Full Bathrooms: 7
Bedrooms
- Total Bedrooms: 9
Additional Information
- Pool: Yes
- Private Pool: Yes
- Pool Description: Gunite, In Ground, Private
Exterior
- Exterior Features: Dock, Outdoor Kitchen
- Porch/Patio/Deck: Balcony, Covered, Patio, Porch
Parking
- Garage: Yes
- Garage Spaces: 1
- Covered Spaces: 1
Location
- County: Bay
- Subdivision: Bunkers Cove
- Driving Directions: US-98 BUS E/W Beach Drive, turn left on 4th St, right on Oak Avenue, left to W 4th St. cross over bridge. Home is on the left. Corner Massalina Drive and 4th St
School Information
- Elementary School: Cherry Street
- Middle School: Jinks
- High School: Bay
Community
- Community Name: 02 - Bay County - Central
Heating & Cooling
- Central air: Yes
- Air Conditioning: Yes
- Cooling Type: Central Air, Ceiling Fan(s)
- Heating Type: Central
Utilities
- Sewer: Public Sewer
- Utility Description: Sewer Available
Structural Information
- Construction: HardiPlank Type
- Windows: Double Pane Windows, Storm Window(s)
- Doors: Storm Door(s)
- Stories/Levels: 2
- Sq. Ft. Source: Owner
- Year Built: 2025
Lot Features
- Property View: Bayou
- Lot Size (Acres): 0.25
- Lot Size (Sq. Ft.): 10,890
- Lot Size: .25
- Lot Dimensions: 120 x 200
- Frontage: City Street
- Lot Features: Sprinkler System, Paved
- Zoning: Resid Multi-Family, Resid Single Family
Water Features
- Water Front: Yes
- Water View: Yes
- Water Front Desc.: Bayou
- Water Front View: Bayou
Financial Considerations
- Tax Amount: $786
- Tax Year: 2024
Disclosures and Reports
- Legal Description: SUDDUTHS 1ST ADD. LOT 21 BLDG 8 ORB 1256 P 962 ORB 2286 P 546 MAP 105C2 SUDDUTHS 1ST ADD. LOT 20 BLK 8 ORB 4783 P 213 MAP 1052C
- Property ID: 20456-010-000 & 20456-000-000
Listed by Beach Haven Realty
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Listing agent
— 401 & 405 Massalina Dr —
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Schools
Schools serving 401 & 405 Massalina Dr
School District:Bay County School District
| Name | Grades | Distance |
|---|---|---|
Merriam Cherry Street Elementary School 1125 Cherry Street, Panama City, FL 32401 | PK-5 | 0.8 mi |
Jinks Middle School 600 West 11th Street, Panama City, FL 32401 | 6-8 | 1.3 mi |
Bay High School 1200 Harrison Avenue, Panama City, FL 32401 | 9-12 | 1.1 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 401 & 405 Massalina Dr
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401 & 405 Massalina Drive, Panama City, FL 32401 (MLS# 781413) is a Multi-Family property with units containing 9 bedrooms and 7 full bathrooms. 401 & 405 Massalina Drive is currently listed for $1,850,000 and was received on November 08, 2025. Want to learn more about 401 & 405 Massalina Drive? Do you have questions about finding other Multi-Family real estate for sale in Panama City? You can browse all Panama City real estate or contact a Coldwell Banker agent to request more information.