annual rent, while two additional parcels (an entitled Panama City development site and an adjacent vacant Chipley lot) carry no current income and represent pure upside.
The portfolio is anchored by newer, stabilized product: a 12-unit community built in 2021 on Kimbrel Avenue and a 9-unit community of 2023-era mobile homes on Berthe Avenue together produce roughly 83% of in-place gross income and underwrite cleanly for financing. The Chipley cluster adds a vintage, value-add layer, a licensed eight-space park, a two-lot parcel, and a two-lot Highway 77 site, each with vacant homes, empty pads, and expansion land that generate upside not counted in current income.
This is an operator’s portfolio, ideally suited to a local, operations-minded owner: in-place yield today, plus three distinct infill and development levers, a ready infill pad on the anchor parcel, six open spaces across the Chipley cluster, and a shovel-ready entitled site in Panama City good for eight additional units. It is also, quite simply, scarce: recorded park trades in
the Panhandle are rare, and none in recent years has involved new-construction product.
Property Highlights
One-of-a-kind scarcity: A 36-month study of recorded park sales across all sixteen Panhandle counties (July 2026) found only a handful of arm’s-length park trades, and no new-construction manufactured-housing product among them. Washington County has recorded a single park transfer since 2023. This portfolio is the only 2021/2023-vintage manufactured-housing rental product to reach the market in the region.
100% new infrastructure at Kimbrel & Berthe: Following Hurricane Michael, both Panama City communities were rebuilt from the ground up: new sewer lines, new water lines and meters, and new underground electrical service at Kimbrel, and all-new sewer and water lines at Berthe. Every utility system serving the 21 newer homes is post-2020.
First-quality homes, built above factory standard: Upgraded wall insulation with full vapor-barrier wrap over wood sheathing, aluminum roofs, double-pane insulated windows, central air conditioning, and washer/dryer in every home. Specified by an owner who previously built custom homes professionally.
Quality tenancy, clean operations: Screened, stable tenants; rents collected by direct deposit; quiet, well-kept communities with low turnover across both markets.
Entitlements that cannot be replicated: 6703 Cherry Street is grandfathered for 7 mobile homes plus 1 RV site with utilities stubbed to the property; Panama City no longer issues new manufactured-housing entitlements.
An operator’s opportunity: This portfolio is ideally suited to a local, operations minded owner: in-place systems, hands-on upside levers at every property, and a single 45-minute SR-77 corridor connecting both markets for one-trip management.
