For Sale!!! 164 Space 55+ Snowbird RV Park Under $12,000 ... · 170 Space with Storage RV Park for...
Transcript of For Sale!!! 164 Space 55+ Snowbird RV Park Under $12,000 ... · 170 Space with Storage RV Park for...
• 9.09% cap rate• 14.2% Cash on Cash, 20% Total Return• 23 Park models and 15 Permanent Trailers• Large Sites, all with full hookups and 50amp• 20% Extended Stay• New Chip Sealed Streets, Clubhouse Renovation and Entry Wall• Well/Septic Recently Certified• Motivated Seller!!!
Information contained herein has been obtained from the owner of the property or from other sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
Southern Mesa RV Park18540 S Avenue 3E
Yuma, AZ 85365SALES PRICE - $1,700,000
For Further Information Contact:John Sheedy – Vice PresidentCell: 602.821.4666Fax: [email protected]
For Sale!!!164 Space 55+ Snowbird RV Park
Under $12,000 Per Site
SOUTHERN MESA
170 Space with Storage RV Park for Sale!
Southern Mesa RV Park
Sales Price$1,700,000
Down Payment$425,000
Property Information:Located in the snowbird destination of Yuma Southern Mesa is a 170 space RV park being sold for below replacement cost with huge upside. The park was bought in a distressed state in early 2014 and the buyer has spent an excess of $100,000 renovating the clubhouse and pool and chip sealing the streets which has brought in more tenants however still below comparable parks in occupancy. Broker estimates that with occupancies at 90% for prime winter months (January – March), 65% for holiday and spring months (November, December, April) and normal slow traffic for rest of year total revenues should exceed $300,000 annually with current rents. Only other nearby park is Del Pueblo
which is a 4-5* with expensive amenities park yet has nearly double the rent so Southern Mesa offers a nice affordable option for snowbirds. Park amenities include pool, spa, clubhouse, putting green, horseshoe pits, and large sites with pads. Each site has 50amp service and full hookups. The park is
on a well and septic system and both have been maintained and seller can provide reports for buyers. Monthly sites are $399 in the winter and annual rates are $1795. Management is in place and the
owner comes to the park only about twice a year. Big upside for a hands on owner to take this park to the next level. Other upside includes adding more park models and increasing advertising to attract
snowbirds with big rigs in need of larger sites and more space.
County
YumaState
Arizona
Expense Ratio
53.4.%
Age
1985
Loan
New Loan
Total Parcel Size
9.5 acres
Permanent Occupancy
20%
Water
Well
Sewer
Septic
Address/City
18540 Avenue S Avenue 3E, Yuma
Cap Rate/Cash on Cash Return
9.0%/14.3%
Electrical Service
All 50 AMP Sites
RV Spaces
170 (164 RV + 5 Overflow + Storage)
Loan Information (FOR SOUTHERN MESA ONLY) :Banks asking for 25% down payment or $437,500. Loan to be $1,312,500 at 5.5% with a ten year term amortized over 25 years. Monthly payments to be $7,829 or $93,948 annually
NET INCOME $154,575TOTAL ANNUAL PRINCIPAL PAYMENT $93,948ESTIMATED ANNUAL PRE-TAX INCOME $60,627PRINCIPAL REDUCTION YEAR 1 $24,441TOTAL RETURN $85.068
CASH ON CASH - 14.2% TOTAL RETURN – 20%
SOUTHERN MESA