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8209 Highway 2301 Panama City, FL 32461
- Mobile or Manufactured Home / Resale (MLS)
Property Details for 8209 Highway 2301, Panama City, FL 32461
Features
- Price/sqft: $135
- Total Rooms: 6
- Room List: Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 1, Bathroom 2, Bathroom 3
- Heating: Central Furnace
Facts
- Year Built: 01/01/1980
- Property ID: 878025305
- MLS Number: 730828
- Property Type: Mobile or Manufactured Home
- County: WALTON
- Listing Status: Active
Sale Type
This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.
Description
This listing is NOT a foreclosure. 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 Brokerage:
Realty ONE Group Emerald Coast
1120 Thomas Dr
Panama City Beach
FL
32408
Copyright © 2024 Central Panhandle Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
All information provided is deemed reliable, but is not guaranteed and should be independently verified.