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Debbie Kirkland

[email protected] +1(850) 212-0440

$ 199,000

Est. payment -/mo

Save

Active

8209 Highway 2301 Panama City, FL 32461

3 Beds

3 Baths

1,470 SqFt

UPDATED:

09/30/2024 05:04 PM

Key Details

Property Type Manufactured Home

Sub Type Manufactured Home

Listing Status Active

Purchase Type For Sale

Square Footage 1,470 sqft

Price per Sqft $135

Subdivision No Named Subdivision

MLS Listing ID 730828

Style Mobile Home

Bedrooms 3

Full Baths 3

HOA Y/N No

Year Built 1980

Annual Tax Amount $829

Tax Year 2022

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

Community Short Term Rental Allowed

Area 04 - Bay County - North

Interior

Heating Central, Electric

Cooling Central Air, Electric

Furnishings Unfurnished

Fireplace No

Exterior

Community Features Short Term Rental Allowed

Utilities Available Electricity Connected, Septic Available, Water Available

Waterfront No

Building

Lot Description Cleared

Sewer Septic Tank

Water Well

Architectural Style Mobile Home

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

Debbie Kirkland

Broker | License ID: BK3052075

+1(850) 212-0440

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Tallahassee, FL

Debbie Kirkland

Debbie Kirkland

8209 Highway 2301 Panama City, FL 32461

Key Details

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Exterior

Building

Schools

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8209 Highway 2301