Contact Information
Em Estates
Em Estates LLC
Mobile Home Park Details
- Price: $400,000
- Purchase Method: Cash, Seller Financing, New Loan, Assumable Loan
- Cap Rate: 14.9%
- Listing ID: 2207293
- Posted On: Mar 23, 2023
- Updated On: Apr 2, 2023
Description
Income producing mobile home park in the heart of Panama City close to the world’s most beautiful beaches. This is a well-maintained park that includes 8 park owned homes. Of the 8, 4 are rehabbed and occupied with annual leases, 3 have been partially rehabbed and the remaining 1 need mobile homes (they are just land and permitted for single wide units) . The park is located in a nice and quiet neighborhood and park where tenants have been residing as long as 10 years. This is in an excellent central location.
Average rents are $900/unit and some going renting as high as $1100 yet still room to potentially increase based on local average rent and continual value of land and area increasing each year . This is perfect for a new investor or seasoned landlord who wants to focus on a smaller size park.
Seller will consider financing with 35% down and additional terms to be determined.
If interested, please email bayviewmhp@gmail.com.
Amenities
- Handicap Accessible
Park Information
Community Type: | All Age |
Number of MH Lots: | 8 |
Total Occupancy: | 50.0 % |
Year Built: | 1960 |
Average MH Lot Rent: | $950 |
Financial Information (Actual)
Gross Income | $45,600 |
Operating Expense | $4,980 |
Net Operating Income | $45,185 |
Expense Ratio | 10.9 % |
Debt Info |
Lot Information
Singlewide Lots: | 7 |
Doublewide Lots: | 1 |
RV Information
Number of RV Lots: | 0 |
Utility Information
Water: | City |
Water Paid By: | Park |
Sewer: | City |
Park-Owned Homes
Number of Park-owned Homes: | 8 |
Average Rent for Park-owned Homes: | $950 |