RV Park/Campground Details

Purchase Method: Cash, New Loan
Cap Rate: 19.0%
Listing ID: 137394
Posted On: Apr 16, 2012
Updated On: May 8, 2014

Description

NO WAY! $2.9 MILLION in note receivables with an average 8.3% int rate - included FREE at this new low price! ABSURD pricing by these AGING MOTIVATED SELLERS! I don't expect this deal to stay on the market very long now! DONT MISS OUT! Effec Cap Rate of 19%

The Summit Vacation Resort is a mixed-use timeshare resort w/ "Right to Use" Membership only, having condo, cabin, tent and RV park components on the Guadalupe River in New Braunfels, Comal County, TX; in the heart of the TEXAS HILL COUNTRY - an area known for its water sports.

A well-established, maintained and stabilized resort, The Summit has an excellent reputation within the timeshare community; and is a part of the RCI timeshare & Coast to Coast networks. There are approx..1511 resort members and 385 timeshare condo resort members. There are currently 239+/- weeks unsold based on currently constructed condos.
Please call listing broker for financials/details

The Tangible Assets incl:
+/- 129.139 Acre mixed-use site with offices, utility bldgs, restrm facilities, clubhouse, pools, gym, playgrounds, restaurants, 30 cabins, 12 SFR condos,106 RV spaces and contig. raw land for future development. The subj prop is composed of 7 different Tax Acct #s:77059, 77060, 371381, 79790, 77057, 77334, 371380

Location

CONTACT Listing Agent --MUST have accompanied appt to show/ view this property ! Call Listing Broker for full details. Financials available upon receipt of signed Confidentiality Agreeemtn (see links&attachments)

The Summit Vacation Resort is located on the Guadalupe River east of (below) the Canyon Lake Reservoir on River Road. The main office is located at 13105 River Road, New Braunfels, TX. 78132 The 12 subject condo addresses are 3060-3121 Summit Hurst, New Braunfels, TX 78132.

This resort is minutes from Canyon Lake, New Braunfels, the world-famous water park "Schlitterbahn", Gruene, Fredericksburg, Wimberley, San Marcos and many local wineries. This resort is halfway between Austin and San Antonio on River Rd.; and can be easily accessed from both Hwy 281 and IH 35. See Location Maps for details.