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8209 Hwy 2301

Panama City, FL 32461
  • $199,000
  • STATUS: Active
  • ON SITE: 669 Days
  • MLS #: 730827
UPDATED: 142 min ago
$199,000
  • 0
    BEDS
  • 1.81
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Manufactured Home
Built:
1980
County:
Bay

School Information

Elementary School:
Middle School:
High School:

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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© 2024 Central Panhandle Association of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' 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 is not guaranteed accurate by the MLS or Counts Real Estate Group, Inc.. Data last updated: 2024-06-13T10:04:21.89.
www.countspanamacity.com/homes/132131106
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8209 Hwy 2301 Panama City, FL 32461

  • Price: $199,000
  • Status: Active
  • On Site: 669 Days
  • Updated: 142 min ago
  • MLS #: 730827
0
Beds
0
Baths
0
½ Baths
1.81
Acres
1980
Built
Neighborhood:
No Named Subdivision
County:
Bay
Area:
Bay County-North
Elementary School:
Deer Point
Middle School:
Merritt Brown
High School:
Mosley
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.
Exterior Features

Levels One Road Frontage Type City Street Stories 1

Interior Features

Appliances Electric Water Heater Cooling Central Air Electric Cooling YN Yes Heating Central Electric Heating YN Yes

Property Features

Association YN No Building Area Total 1470 Listing Agreement Exclusive Right To Sell Listing Terms Cash Conventional Occupant Type Occupied Property Sub Type Mobile Home Property Sub Type Additional Mobile Home Sewer Septic Tank Utilities Electricity Available Septic Available Water Available Water Source Well Waterfront YN No Zoning Description Resid Multi- Family

Central Panhandle Association of REALTORS (Panama City MLS) logo Listing provided courtesy of Realty One Group Emerald Coast: (850) 238-8338. Listing information © 2024 Central Panhandle Association of Realtors MLS.


© 2024 Central Panhandle Association of Realtors MLS. All rights reserved. IDX information is provided exclusively for consumers' 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 is not guaranteed accurate by the MLS or Counts Real Estate Group, Inc.. Data last updated: 2024-06-13T10:04:21.89.
 
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Counts Real Estate Group, Inc.
3009 Highway 77, Suite H
Panama City FL, 32405