RV Park/Campground Details

  • Purchase Method: Cash, New Loan
  • Cap Rate: 7.6%
  • Listing ID: 1726998
  • Posted On: Aug 4, 2022
  • Updated On: Feb 9, 2024

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, 2 cabins, 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 or go to a traditional transient RV model and easily increase the income. 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

  • Laundromat
  • Club House
  • Storage
  • Boat Access
  • Manager Office
  • Bathhouse
  • Wifi
Interested in purchasing this RV park? Get pre-qualified for a loan.

Park Information

Number of RV Lots: 75
Average RV Lot Rent: $425

Financial Information (Actual)

Gross Income: $492,000
Operating Expense: $167,000
Net Operating Income: $325,000
Expense Ratio: 33.9 %

Utility Information

Water: City
Sewer: Septic

Video

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