RV Park/Campground Details

Purchase Method: Seller Financing
Cap Rate: 7.2%
Listing ID: 457333
Posted On: Jul 1, 2014
Updated On: Nov 14, 2014

Description

$1,200,000 Sales Price with 5% Owner Financing
88 Sites Including 8 Park Models, 14 Mobile Homes, and 28 Annuals
Golf Course Views From Many Lots
Located in the Cool White Mountains
Three Hour Drive from Phoenix
Close to Painted Desert and Petrified Forest National Parks
Adjoining 1.4 Acre Parcel Allows For Future Development
Owner Willing to Finance for 30 Years Amortized with a 10 Year Balloon at 5%

Location

Just a three hour drive from Phoenix in the White Mountains this RV Resort is ideal for an investor open to a potential cash cow property on a prime site. Open year around with 28 annual rentals, Putters Paradise RV Park offers perhaps the only RV and mobile home park in the Southwest with direct golf course views at this price per space. The park consists of 88 spaces including eight park models, 15 mobile homes and 5 permanent trailers, and a magnificent two story clubhouse with a manager apartment. Putters Paradise is the only RV park in Snowflake and affords tremendous marketing upside. Park is within walking distance of Snowflake Municipal Golf Course as well as the world famous Snowflake LDS Temple. The Petrified Forest and Painted Desert National Parks are close via car and White Mountain destinations of Show Low and Pinetop-Lakeside within 20 minutes. Raising rates is likely due to marketing upside and lack of rate increase in recent years. 28 of the spaces are inhabited via annual leases and the remainder are currently used for RV's but can be converted to mobile homes. More park models especially on lots with golf course views could really drive up revenue as well as acquiring more mobile homes.