8209 Highway 2301

Panama City, FL 32461
$199,000
1470 sqft | 3 beds | 3 baths | 1.81 acres | #730828
For Sale

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.
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  • Property Details
      • Bedrooms:3
      • Bathrooms:3
      • Full Baths:3
      • Lot description:Cleared
      • Acres:1.81
      • Square Feet:1470
      • Property type:Purchase
      • Style:Mobile Home
      • Year built:1980
      • Sewer information:Septic Tank
      • Utility source:Well
      • Utility features:Electricity Connected, Septic Available, Water Available
      • Subdivision:No Named Subdivision
      • Elementary School:Deer Point
      • Middle School:Merritt Brown
      • High School:Mosley
      • County:Bay
      • Days on Market (Cumulative):862
      • Taxes annual:$829
      • MLS #:730828
      • Cost:199000
      • Property subtype:ManufacturedHome
      • MLS #:730828

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Last Updated: . Source: CPAR

Listing Courtesy
Listing Agent: Melissa Barbee
Listing Office: Realty One Group Emerald Coast

Tia BlumReal Estate Group
$
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Down Payment

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10.0%

Interest Rate

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6.0%

Tax Rate

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2.6%
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Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.

Estimated Monthly Payment
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Loan Amount
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Company

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Account

  • Roy F Furst

    Licensed Real Estate Broker

    Central Bay Realty

    Phone: (850) 257-5016

    Email: centralbayrealestate@gmail.com
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    IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.