FL > Panama City > No Named Subdivision
Panama City, FL 32461,8209 Hwy 2301
Panama City, FL 32461,8209 Hwy 2301
Panama City, FL 32461,8209 Hwy 2301
Panama City, FL 32461,8209 Hwy 2301
Panama City, FL 32461,8209 Hwy 2301
Panama City, FL 32461,8209 Hwy 2301
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Gene Darden

Gene Darden

+1(205) 426-1113
$ 199,000
Est. payment | /mo

1.81 Acres Lot

Save
$ 199,000
Est. payment | /mo
Save

1.81 Acres Lot

Key Details

Property Type Mobile Home

Sub Type Mobile Home

Listing Status Active

Purchase Type For Sale

Subdivision No Named Subdivision

MLS Listing ID 730827

HOA Y/N No

Year Built 1980

Lot Size 1.810 Acres

Acres 1.81

Property Description

Property has 4 addresses. 2 park owned existing mobile homes on property that are leasing for a total of $2080 a month. Expenses are extremely low because of well and septic. All figures and info are supplied by Seller and are not guaranteed and should be verified. Electric is less than $50 a month and Culligan has a water purifier rental for $130 a mo. Taxes are $945 a year or $79 a month. NOI around $21,855 a year giving a Cap Rate of 10.98%. Both units have been extremely well appointed during the rehab process with new kitchen cabinets in both units. Both even have granite kitchen countertops. Unit 8213 up front is a 1bd/1ba. Unit 8211 in back is a 14' wide (not the normal 12) and is a 2bd/2ba. Both bedrooms have their own bathrooms. One even has a garden tub and walk-in closet. Both units have Central HVAC and most appliances are new. Both units have washers and dryers. You'll see the quality and very little deferred maintenance the Seller takes pride in. Seller has another MHP (MLS# 737012) and owns both land and all units. 11 paying rentals located appx 1.5 miles away at 6904 thru 6920 Penny Rd. Asking Price $1.2M. Onsight Manager/Maintenance person takes care of both parks and is extremely trustworthy. Seller offering both properties at $1.4M (savings of appx 100k). Cap Rate is currently 8.08%. The larger park has 2 vacant lots that used to have units on them. Let someone put a unit on each of those vacant lots for $600 per unit raise rents by 7.5% and your total Cap Rate would be 10.06% based on $1.3M sale price. Call today for more details.

Location

State FL

County Bay

Area 04 - Bay County - North

Interior

Heating Central, Electric

Cooling Central Air, Electric

Fireplace No

Appliance Electric Water Heater

Exterior

Utilities Available Electricity Available, Septic Available, Water Available

Waterfront No

Building

Entry Level One

Sewer Septic Tank

Water Well

Level or Stories One

Schools

Elementary Schools Deer Point

Middle Schools Merritt Brown

High Schools Mosley

Others

Tax ID 05450-018-000

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by Realty One Group Emerald Coast
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+1(205) 426-1113

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8209 Hwy 2301