Historical Multifamily Sale Listing - RV Park with 1.5M Upside

Multifamily For Sale

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RV Park with 1.5M Upside

4126 CR 616, Alvarado, TX 76009

N/A

37 Spaces | Multifamily

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Treed RV Pads

Multifamily Property - Off Market

Price:
N/A
No. Spaces:
37
Property Type:
Multifamily
Property Sub-type:
Mobile Home/ RV Community
Property Use Type:
Investment
Cap Rate:
7.75%
Occupancy:
95%
Year Built:
2006
Lot Size:
12.16 AC
Listing ID
15175271
Last Updated
over 1 year ago

Highlights

  • Cash Flowing Property with Ability to Expand
  • 6-12 Month path to cash, 1.M Upside (add 50 more pads)
  • Partial Seller Finance
  • Owner willing to Negotiate Management
  • Just outside Mansfield area in Alvarado.
  • Seller Highly Motivated

Description

Partially developed RV park on 12 acres. 37 of 87 planned pads complete with full hook-ups. Currently 7 cap, completed you have 15-17 cap crankable asset. 500K needed to finish. Get in with no money down, owner will consider 20% seller finance. Owner open to negotiate staying on to oversee park management.

Cash flowing property with ability to expand, 6 - 12 month path to cash, 1.5M upside, seller financed RV notes included, connections to fill park with oilmen riggers on 2 - 7 year contracts.

In need of significant debt relief from expenses incurred by medical diagnosis. High level of motivation.

1031 exch. needs larger financial coverage? Owners can add to equity/price and value, with any of the follow; a duplex on main road opposite park entrance. rents $1600 a month, never vacant. Upscale residential home in Alvarado that you can stay in while you visit your RV park. Small commercial strip center also available.

Ave rent is $275. Two other area parks rent for $325 - 450. They have greater amenities as this RV park is in development stages. Owner called 8/2/07 by drill co & asked if park could host 20 more men arriving in 60 days, plus 160 more arriving w/in 12 mos.

Easy access to South Fort Worth and South Dallas. Just outside rapidly growing Mansfield, TX in Alvarado. Mansfield has already annexed near by property. Mansfield Water Park to open May 2008 six miles away. 10 miles from Joe Pool Lake area.

Map of 4126 CR 616, Alvarado, TX 76009 (Johnson County)

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