5102 E 12th St | Panama City, FL 32404
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5102 E 12th St
Panama City, FL 32404
18% CASH-ON-CASH RETURN! PANAMA CITY MHP! · Multifamily Property For Sale
·
21,500 SF
Investment Highlights
- 24-PAD MOBILE HOME PARK FOR SALE! NEW 5- A YEAR NNN LEASE IS IN PLACE! $12,750 PER MONTH IN YEAR ONE, INCREASING BY $500 PER MONTH EVERY YEAR!
- AMAZING SELLER FINANCING IS AVAILABLE! APPROX TERMS: $750K DOWN, 2% FIXED IR (YEARS 1-2), 9% FIXED IR (YEARS 3-7), INTEREST-ONLY PAYMENTS, 7-YEAR BALL
- ALL MOBILE HOMES ARE TENANTS OWNED, AND NOT OWNED BY THE OWNER!
- 8.4% CAP RATE IN 2022! 18% CASH-ON-CASH RETURN in 2022! 9% CAP RATE IN 2023! 20% CASH-ON-CASH RETURN IN 2023!
- THE LEASE IS PURE NNN, TENANT IS RESPONSIBLE FOR ALL EXPENSES PER THE LEASE!
- THE CURRENT TENANT HAS BEEN IN THIS BUSINESS FOR YEARS AND HAS A STRONG TRACK RECORD OF SUCCESS MANAGING SIMILAR PROPERTIES!
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Microwave
- Washer/Dryer Hookup
- Ceiling Fans
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Tub/Shower
- Wi-Fi
- Yard
- Dining Room
- Family Room
- Freezer
- Instant Hot Water
- Lawn
- Patio
- Porch
- Smoke Free
- Window Coverings
Site Amenities
- 24 Hour Access
- Courtyard
- Fenced Lot
- Picnic Area
- Gated
- Trash Pickup - Curbside
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+2 | 24 | - | - |
Property Taxes
| Parcel Number | 14958-000-000 | Improvements Assessment | $207,558 |
| Land Assessment | $308,241 | Total Assessment | $515,799 |
Property Taxes
Parcel Number
14958-000-000
Land Assessment
$308,241
Improvements Assessment
$207,558
Total Assessment
$515,799
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