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8209 Highway 2301, Panama City, FL 32461

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For Sale

$199,000

3 beds • 3 baths • 1,470 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Mobile/Manufactured Home
    Property type

  • $135.37
    Price per square foot

  • 41-50 Years Old
    Age

Explore this Property

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.
MLS# 730828

Courtesy Of Realty ONE Group Emerald Coast

(850) 238-8338

Property Features

  • Age
    41-50 Years Old
  • Architecture Style
    Other
  • Cooling System
    Central A/C
  • Heating Fuel
    Electric
  • Heating System
    Central Furnace
  • Lot Size
    1.81 Acres
  • Roof Type
    Unknown
  • Rooms
    Bedroom, Full Bath

Map and Directions

Directions to 8209 Highway 2301, Panama City, FL 32461

Home seller CENTURY 21 Blue Marlin Pelican

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CENTURY 21 Blue Marlin Pelican

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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