218 N Kimbrel AVE #4 Active Save Request In-Person Tour Request Virtual Tour
Panama City,FL 32404
Key Details
Property Type Mobile Home
Sub Type Mobile Home
Listing Status Active
Purchase Type For Sale
Subdivision [No Recorded Subdiv]
MLS Listing ID 769912
HOA Y/N No
Year Built 2021
Lot Size 1.500 Acres
Acres 1.5
Property Sub-Type Mobile Home
Property Description
This exceptional mobile home park, permitted for 13 homes, is a fantastic investment opportunity located in a growing area. The property features 12 newly installed homes that were fully rented in 2023 and 2024, providing immediate and stable rental income. Additionally, there are 2 available lots ready for future development or expansion.Key Property Features:Permitted for 13 Homes: 12 new homes installed and rented, with room for expansion on 2 available lotsNew Homes & AC Units: 12 new homes equipped with new AC units installed on platforms elevated 2 feet above the ground for durability and easy maintenanceElectrical Upgrades:12 new power poles with electrical panels installed at each of the 12 homesFlorida Power & Light is in the process of installing new underground electric lines to all homes, with 2 supply boxes and community lighting plannedWater & Sewer:Complete installation of new water lines, sewer lines, and shut-off valves in 2023Separate water meters installed for each home, with tenants responsible for city waterStreet & Driveways:Newly paved asphalt street (March 2024) for easy accessPaved driveways installed (March 2024) for all homesPrivacy & Security: A new wood fence surrounds the entire perimeter of the property, providing both privacy and securityLighting & Aesthetics:Solar lighting installed at the front of each homeHigh-quality skirting around each home, installed to a higher standard than most in FloridaTwo sets of steps at each home for tenant convenienceAdditional Highlights:Turnkey Investment: With all 12 homes rented and ready to generate income, this property is a profitable, hassle-free investmentExpansion Potential: With 2 additional available lots, you can easily add more homes to increase rental income in the futurePrime Location: Conveniently located with easy access to local amenities, schools, and transportation routesWith a cap rate of 7.81%, this mobile home park offers a unique opportunity for investors to acquire a property with newly constructed homes and significant infrastructure upgrades. The improvements made in 2023 and 2024 ensure minimal ongoing maintenance, making this a low-risk, high-return investment.Seller has two other properties for sale as weill. 420/428 Berthe Avenue and 2630/2650 Blocker Church Road
Location
State FL
County Bay
Area 02 - Bay County - Central
Interior
Heating Central,Electric
Cooling Central Air,Electric
Fireplace No
Appliance Electric Water Heater
Exterior
Fence Perimeter
Utilities Available Electricity Available,Sewer Available,Water Available
Roof Type Shingle
Building
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
Schools
Elementary Schools Callaway
Middle Schools Everitt
High Schools Rutherford
Others
Tax ID 06057-000-000
Acceptable Financing Cash,Conventional
Green/Energy Cert Solar
Listing Terms Cash,Conventional
Special Listing Condition Listed As-Is