Contact Information

Mobile Home Park Details

  • Price: $1,500,000
  • Purchase Method: Cash, New Loan
  • Cap Rate: 8.9% (Pro Forma)
  • Listing ID: 6923181
  • Posted On: Jun 17, 2025
  • Updated On: Jul 5, 2025

Description

CURRENTLY UNDER CONTRACT-Welcome to where New Class meets Affordable Housing! This 13 Unit is crawling with potential. With 13 Homes and 16 Pads, this MHP is ready for you to bring in 3 new homes.

Panama City Florida is an explosive economy that is consistently growing every single day. With affordable housing at an all-time low, this park is perfect blend of comfort and affordability. FPL is in discussion for placing underground utilities. Bay County has a 2.86% growth rate every year. Today, Bay County has an incredible population of 198,000+!

SWs are 3/2, 3 of the DWs are 3/2, 1 DW is 4/3 and the last is 4/2.
This 13 Unit is Self-Managed by the Seller. Seller States that property is only 20k a year in expenses. I am being conservative and placing expenses at a 20% Expense Ratio.

No Sign; Do Not Disturb Tenants.

Age of homes are as follows: 2002, 1998 x 3, 1999, 1995 x 3, 2003, 2005 x 4

Tenants pay all utilities
All homes have new AC units.
Seller simply pays for Taxes, Insurance, trash and streetlights.
Will share t12 and RR after prospective buyer has shown Proof of Funds/Pre-Qual.

Location

EAST BAY PARK MAP 132C1 LOT 5 BLK C ORB 1234 P 981 ORB 1975 P 271 ORB 2434 P 1371 ORB 2670 P 2173

Amenities

  • Storage
Interested in purchasing this mobile home park? Get pre-qualified for a loan.

Park Information

Community Type: All Age
Number of MH Lots: 16
Total Occupancy: 92.3 %
Size: 2 acre(s)

Financial Information (Pro Forma)

Gross Income: $162,600
Operating Expense: $32,400
Net Operating Income: $130,200
Expense Ratio: 19.9 %

Lot Information

Singlewide Lots: 8
Doublewide Lots: 5

Utility Information

Water: City
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 13
Average Rent for Park-owned Homes: $1,200

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