Foreclosed Doublewide Demolition - Lot Subdivision
PENSACOLA, FLORIDA
$99,421
Acquisition Cost
$45,000
Value Add (estimated)
$240,000
After Repair Value (estimated)
65%
Return (estimated)
THE DEAL
Foreclosed doublewide mobile home on 1.5 acres purchased via online foreclosure auction. Property is in a growing suburb of Pensacola and zoned LDR (low density residential). Current zoning prohibits mobile homes unless they were placed on the property prior to the zoning.
Escambia County real estate auctions are cash only purchases. Three days after auction, the winning bidder receives a certificate of sale. Within 10 days after, the buyer receives the title from the Clerk of the County Court.
Once the property was owned by Bendokas Investments LLC, it was determined that the trailer was not useable.
The 1.5 acre lot will be subdivided into 4 buildable lots
THE NUMBERS
2 years back taxes $3500
Wetlands Study $750
Boundary Survey and Topo
Engineering $1450
Demolition $7500
Tap Fees $6500
Consulting Fees $2200