Homes for sale - 218 N Kimbrel AVE #4, Panama City, FL 32404

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Shantel Peterson

[email protected] +1(850) 543-9000

$ 2,800,000

Est. payment | -/mo

1.5 Acres Lot

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$ 2,800,000

Est. payment | -/mo

Save

1.5 Acres Lot

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

Listed by Think Real Estate

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(850) 543-9000

[email protected]

Niceville, Florida, 32578, USA

218 N Kimbrel AVE #4 Panama City, FL 32404