RV Park/Campground Details
- Purchase Method: Cash
- Cap Rate: 12.0%
- Listing ID: 784406
- Posted On: Mar 1, 2018
- Updated On: May 31, 2018
Description
GOOD CASH FLOW AND 25 YEARS OF RENTAL HISTORY! Northview Estates RV and Mobile Home Park is a 53 lot manufactured housing community located on the north edge of Washburn, ND. 40 miles north of Bismarck and 70 miles south of Minot, ND. 27 permanent manufactured homes, including two park owned homes. 18 dedicated RV spaces and seven 'overflow' mobile home lots accommodate a significant annual influx of power plant maintenance personnel plus road construction crews, custom harvesters and other trades and crafts personnel needed to perform a variety of services in the local economy along with RV travelers exploring North Dakota's Lewis and Clark country. RV income contributes more than 50% of annual gross revenues with many guests returning annually, several living in the RV park year around. Park has paved streets, city water and sewer. RV Park hosts are on-site. Same owners for over 25 years! Co-owner Mike Nelson is a licensed ND real estate broker.
Park Information
Number of RV Lots: | 18 |
Year Built: | 1976 |
Size: | 10.9 acre(s) |
Financial Information
Gross Income: | $172,000 |
Operating Expense: | $64,000 |
Net Operating Income: | $98,000 |
Expense Ratio: | 37.2 % |
Utility Information
Water: | City |
Sewer: | City |