420/428 Berthe Avenue, Panama City, FL 32404 (MLS# 769913)

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Property Description
This well-maintained and fully permitted mobile home park offers an excellent opportunity for investors or developers. This sale includes 428 Berthe Avenue as well. Located in a desirable area, the property is permitted for 13 homes, with 8 new homes recently installed and one used home. The park is already generating steady rental income, with homes renting for $1,750 to $1,850, and one older unit at $1,300. Property Features: Homes: 8 brand new, well-sized homes recently installed and rented, plus 1 used home. Air Conditioning: Each home is equipped with a new AC unit installed on a platform 2 feet above ground for improved durability. Electrical: 8 new electrical pedestals with dedicated panels for each new home. All new underground electrical systems were installed last year by Florida Power & Light to service all 9 homes and 2 supply boxes. Water & Sewer: Full water line installation, water meters, and sewer lines with city sewer access. A lift station, 2 pumps replaced 2 years ago, and a Culligan-serviced well ensure reliable water delivery. Street: Recently paved asphalt (March 2024), providing an upgraded and attractive entrance. Driveways: Compacted gravel driveways for easy vehicle access. Fencing: A newly installed wood fence at the front of the property offers privacy and security. Lighting: Solar-powered lighting at the front of each home, with additional lighting at the rear of 3 homes. Skirting & Steps: Durable, high-quality skirting and 2 sets of steps at each home for easy access and attractive curb appeal. Investment Highlights: Fully permitted for 13 homes, with a current setup of 9 homes (8 new and 1 used). Strong rental income potential, with competitive rents and high demand in the area. Significant infrastructure upgrades, including electrical, water, and sewer systems, ensuring minimal future maintenance needs. Recently paved street and newly installed fencing, enhancing the overall value of the property. With a cap rate of 8.72%, this property offers a solid foundation for steady rental income, while also providing room for future growth with the potential to expand to full capacity. Whether you're looking to expand your portfolio or seeking a long-term investment with low maintenance, this mobile home park is an ideal choice. Seller has two other parks available for sale as well. 218 Kimbrel Avenue, and 2630/2650 Blocker Church Road

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