RV Park/Campground Details
- Purchase Method: Cash, New Loan
- Cap Rate: 9.6%
- Listing ID: 714028
- Posted On: Oct 17, 2016
- Updated On: Sep 7, 2017
Description
Club Royal Oak, known as “The Crown Jewel of Kings River,” is a gated 100-site RV resort featuring 36 riverfront sites, 45 pull-through sites and five tent sites in an idyllic setting along the banks of the Kings River in Kingsburg, California. 85 of these sites are full hookup.
The owner has made significant infrastructure and amenity improvements, including a septic expansion to provide full hook-ups to an additional 50 sites, which was completed in October 2016. In August of 2016, the installation of 521 solar panels was completed on the covered RV storage area, estimated to generate 90 percent of the resort's energy usage and significantly reduce utility costs. Remodeled in 2009 and again in 2016, the resort also features a reception area, two offices, a small convenience store, fitness center, dry sauna, two large restrooms with showers, laundry facility and clubhouse featuring a pool table, darts, flat screen television, barbecue area and full kitchen all with high-end finishes. In addition to the extensive improvements, there is approximately 3.5 acres of undeveloped land with the potential of increasing the number of riverfront sites.
Each summer, the resort hosts “Kasonno’s Flat Bottom Boogie,” a nationally renowned speedboat extravaganza with fun for all ages. The four-day event includes a boat show, speed exhibition, food, games, concert and awards ceremony. Started in 2009, the Flat Bottom Boogie began to draw speedboat enthusiasts to this oasis and soon gained a faithful following that frequents the park year-round.
A new operator will benefit from an excellent on-site management team, recently upgraded infrastructure and a resort that has been meticulously maintained for over 10 years by a passionate owner/operator. Income
has grown year over year and is projected to increase over 30 percent in 2016.
Please coordinate all showings through the broker--DO NOT disturb the management team.
Amenities
- Laundromat
- Club House
- Boat Access
- Manager Office
- Bathhouse
- Store
- Wifi
- Fitness Center
Park Information
Number of RV Lots: | 100 |
Size: | 27.7 acre(s) |
Financial Information
Gross Income: | $557 |
Operating Expense: | $251 |
Net Operating Income: | $306 |
Expense Ratio: | 45.1 % |