$199,000
- Beds
- 3
- Baths
- 3.0
- sq ft
- 1,470
8209 Highway 2301, Panama City, FL 32461
8209 Highway 2301
Panama City, FL 32461
- 832 days on market
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.
Details
Property type
Manufactured Home
Lot size
1.81 acres
Price per sq ft
$136
Year built
1980
Annual property taxes
$829
HOA
No
Price History
07/18/2024
CentralPanhandle #730828
Listed
$199,000
07/18/2024
CentralPanhandle #730828
Removed
$199,000
08/13/2022
CentralPanhandle #730828
Listed
$199,000
Schools & Community
Elementary school:
Deer Point
Middle school:
Merritt Brown
High school:
Mosley
Status: Active
Tomo last checked: 11/22/2024 at 11:10 PM
Listing updated: 09/24/2024 at 11:09 PM
Listed by: Melissa Barbee, Realty One Group Emerald Coast Phone #: (850) 238-8338
MLS: CentralPanhandle #730828
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