Contact Information
Steven Livshin
RV Park/Campground Details
- Price: $3,995,000
- Purchase Method: Cash, New Loan
- Cap Rate: 7.3%
- Property ID: 1726998
- Posted On: Aug 4, 2022
- Updated On: Feb 8, 2023
Property Description
Presenting the Okeechobee FL Portfolio, which consists of 75 lots in two RV communities: Lakeside Village RV Resort and Southern Sun RV Resort. Both communities are located on Lake Okeechobee, which is considered Florida’s “inland sea,” as demonstrated by the high demand for boating and freshwater fishing attractions. Each community offers amenities packages tailored to boating and fishing, which is an appealing bonus for the residents.
The portfolio benefits from all long-term RV residents and strong management, providing a more stable resident base due to the low turnover. Current ownership is absentee which makes this portfolio an easy acquisition for a buyer looking for passive income.
With 18 park models and below market rent on all lots there is tremendous room for upside. Due to the long-term nature of the residents, an owner can operate the portfolio similarly to a mobile home park or multi-family property. Additionally, the communities are a short 12-minute drive from each other, allowing for shared staffing between the parks. This offering presents the unique opportunity to purchase 2 waterfront RV parks with rental upside on Lake Okeechobee.
Amenities
- Club House
- Storage
- Boat Access
- Manager Office
- Bathhouse
- Wifi
Park Information
Number of RV Lots: | 75 |
Average RV Lot Rent: | $400 |
Financial Information (Actual)
Gross Income | $477,249 |
Operating Expense | $187,881 |
Net Operating Income | $289,368 |
Expense Ratio | 39.4 % |
Debt Info |
Utility Information
Water: | City |
Sewer: | Septic |