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2906 Sarah Jean Ct 4 Unit Mobile Home Park $1,399,000 ($349,750/Unit) 4.70% Cap Rate Panama City, FL 32408
EXECUTIVE SUMMARY
9 Vacant lots available, 4 units are already built and generating income. Sarah Jean Cottages consists of four 2 bed 2 bath 800 sf cottages and 9 additional buildable lots in this quaint Panama City Beach neighborhood. Short term rentals are allowed and three of the cottages are currently rented on Airbnb with great returns. The fourth unit has a long-term lease that is now on month to month. These beautiful properties have open floor plans with laminate flooring throughout, stainless steel appliances, granite countertops in the kitchen, tankless water heaters, tub/shower in guest bathroom and walk in shower in master. There are washers and dryers in the rental units. Paver driveways offer attractive parking. There are two different single story floor plans that have been built, but a two-story option could be built as well in the same footprint. An HOA has been drawn up but not finalized yet. The HOA would need to be established if the buyer wanted to sell the cottages individually. The common areas to maintain are the road, lift station and common grounds. The seller has done all of the needed development work except for installing electrical pedestals for the last 6 lots. Construction plans are available. Survey can be provided. Please note that the two-story house in the back of the property is not part of this sale. This sale includes three parcels: 30197-590-000, 30197-590-004, and 30197-590-014. Just a few minutes from the beach, and close to shopping, restaurants, boat rentals, and attractions such as golf, miniature golf, go-karts, Wonderworks, Ripley's and more!
PROPERTY FACTS
| Price | $1,399,000 | Apartment Style | Garden |
| Price Per Unit | $349,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.00 AC |
| Cap Rate | 4.70% | Building Size | 4,000 SF |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 2019 |
| Property Subtype | Manufactured Housing/Mobile Home |
| Price | $1,399,000 |
| Price Per Unit | $349,750 |
| Sale Type | Investment |
| Cap Rate | 4.70% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Manufactured Housing/Mobile Home |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 4,000 SF |
| No. Stories | 1 |
| Year Built | 2019 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
1 1
PROPERTY TAXES
| Parcel Number | 30197-590-000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $290,719 |
PROPERTY TAXES
Parcel Number
30197-590-000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$290,719
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2906 Sarah Jean Ct
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