Description
COUNTRY SIDE ESTATES MOBILE HOME PARK
Country Side Estates Mobile Home community was one of few mobile home parks in the Panama City/Destin Florida area that survived the most severe hurricane to hit the panhandle area of Florida in many years.
Over 30,000 people in the area are homeless and consequently, that’s causing a major housing crisis that will be around for a long time to come. Unfortunately, that’s a huge contributing factor as to why the rental home forecast looks so promising. Within the next two (2) years the park will have reached full occupancy. The reason is because Country Side Estates will be only one of a few parks available to offer housing to these people.
The following operating summary will include the actual income, as it is today, post hurricane. Also, we’ve outlined several projections and revenue forecasts for your review. FEMA has stepped in and is starting to replace some damaged units, plus they’re installing forty-five (45) FEMA homes on the 58 vacant sites that are available.
All the park owned units are considered manufactured homes because they meet up with HUD standards. All park owned units have central air and heat, carpeted floors, with upgraded bathrooms and kitchens.
All tenants pay their own electric, water/sewer. The park pays for the trash removal.
The park is serviced by public utilities (water/sewer). There’s no reported damage to utility infrastructure. Utility and street easements are present with smooth flowing ingress and egress. No adverse easements or encroachments are known.
There are no known liens or code violations registered against the property.
The property is zoned multi-family/residential. If it were used for a future development project, the 27.66 acres would accommodate approximately 270 single family homes.
