901 Lane Lane

Chipley FL 32428

17000 sq. ft.

763607 sq. ft.

Multi-Family

Currently for sale - view listing

Overview

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 mol. Ability to add more homes on this large piece of property would obviously create an even better investment. Seller has 12 of the 17 units rented. Seller just remodeled another five units. Pro forma in six months after five more remodels is going to be approximately $200k. 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 it?s large, quiet and peaceful. There is a severe shortage of good housing in this area. Possible owner carry with 500k down. Actual cap rate is 10% and climbing. Only would consider financing with 500 down. Serious only please. Nice home at 781 Brickyard is included in sale of property. RV spaces may be allowed here.