Rec Room with seating for 25 people, great for events
Rec Room with seating for 25 people, great for events
Gunite Heated swimming pool with water fountain in courtyard
Gunite Heated swimming pool with water fountain in courtyard
3 bedroom 3 bath house would make great Bed and Breakfast
3 bedroom 3 bath house would make great Bed and Breakfast
RV expantion before we added gravel
RV expantion before we added gravel
Plenty of parking in front of hotel rooms with electric to plug your boat in
Plenty of parking in front of hotel rooms with electric to plug your boat in
Rec Room with seating for 25 people, great for events
Gunite Heated swimming pool with water fountain in courtyard
3 bedroom 3 bath house would make great Bed and Breakfast
RV expantion before we added gravel
Plenty of parking in front of hotel rooms with electric to plug your boat in

RV Park/Campground Details

  • Cap Rate: 20.0%
  • Listing ID: 1714532
  • Posted On: Jul 15, 2022
  • Updated On: Oct 19, 2022

Description

Under Contract. We have a very rare opportunity for investors or someone who wants to live in the main house and have rentals that will make you a very nice living. Our property is 2.5 acres 1/3 mile from The World Famous Lake Fork. It constists of a 3 bedroom, 3 bath 1900sq' home (could be a Bed and Breakfast). 4 Hotel rooms, a cottage, Recreation Room with pool table, and we started expanding by putting in a 7 RV lot RV Park. The Septic was just put in in Oct 2021, all permits are approved, and we built up and graveled the area. We are now just waiting for the electric company to put in the transformer ( Dec-Jan) We also have a new salt water gunite inground pool. We have been remodeling it so we do not have 2 yrs of bookings, but we have started to book them this spring and in March we did $10,800 for the month. That is without the RV Park and the stand alone cottage. My Pro Forma numbers are for next year with everything finished $185,000 gross and 10% operating expenses, thats a 20% CAP RATE......The estimate to complete the project is $50k. Due to a stroke we need to sell.

Location

1/3 of a mile from The World Famous Lake Fork. Lake Fork has been voted the #1 Bass Fishing Lake from Bassmaster for many years. Fisherman from all over the country come to our many fishing tournamnets, which are held 1/3 of a mile away. So Location, Location, Location...

Amenities

  • Pool
  • Club House
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Park Information

Number of RV Lots: 7
Year Built: 2022
Average RV Lot Rent: $450
Size: 2.5 acre(s)
Development Land: This is land for developing a RV park.

Financial Information (Pro Forma)

Gross Income: $185,000
Operating Expense: $18,500
Net Operating Income: $166,500
Expense Ratio: 10.0 %

Utility Information

Water: City
Sewer: Treatment Plant

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