Description
This is a really nice park and five minutes to the city of Chipley. Located between Bonifay and Marianna on I-10. It's a 45 minutes drive to Panama City Beach. Park is in a rural setting on 18 acres. Ability to add more homes on this large piece of property would obviously create an even better investment. Seller has 13 of the 17 units rented. They just remodeled another five units. Pro forma in four months after five more remodels is going to exceed $225k. There are basically no utility bills with five wells and each unit on its own separate septic for sewer. Tenants pay electric. The residents that live here like this property because its large and peaceful. There is a severe shortage of good housing in this area. Possible owner carry with 600k down. Actual cap rate is 11% and climbing. Serious only. Must see pofs before viewing property.
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51BEDS
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17.53ACRES
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0BATHS
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01/2 BATHS
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17,000SQFT
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$85$/SQFT
School Ratings & Info
Description
This is a really nice park and five minutes to the city of Chipley. Located between Bonifay and Marianna on I-10. It's a 45 minutes drive to Panama City Beach. Park is in a rural setting on 18 acres. Ability to add more homes on this large piece of property would obviously create an even better investment. Seller has 13 of the 17 units rented. They just remodeled another five units. Pro forma in four months after five more remodels is going to exceed $225k. There are basically no utility bills with five wells and each unit on its own separate septic for sewer. Tenants pay electric. The residents that live here like this property because its large and peaceful. There is a severe shortage of good housing in this area. Possible owner carry with 600k down. Actual cap rate is 11% and climbing. Serious only. Must see pofs before viewing property.
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