Investment Overview

Marcus & Millichap is pleased to present this three=property portfolio in Three Rivers, Texas. This portfolio consist of Choke Canyon RV Park, Kickin Bass Cabins, and Lago Vista RV Park. All three properties are adjacent to Choke Canyon State Park and are conveniently located within a five-minute drive from each other. Three Rivers, Texas, is halfway between San Antonio and Corpus Christi, being just a one-hour drive from each. The parks together are being offered at an 8.92 percent capitalization rate with an estimated net operating income of $388,016. The properties combined have 149 RV spaces, 26 cabins, 15 storage units, and one building that is currently leased out for a monthly rate of $2,500. The RV Spaces monthly rate ranges from $400-$500, and the cabins monthly rate ranges from $875-$1,050. The existing management team comprises three individuals who are willing to stay on with the new owner. One manager oversees both Choke Canyon RV and Lago VIsta RV, receiving a monthly salary of $1,250 plus 4 percent of the monthly gross rent. Kickin Bass Cabins has its own manager who receives a monthly wage of $2,000 along with 3 percent of the gross rent for that month. Additionally, there is a maintenance person who is compensated at a rate of $45 per hour. All three properties are on city water and a septic system. Water, sewage, trash, and electric are all included in the monthly rate. Please do not visit the properties without prior approval. Please arrange property tours with Marcus & Millichap listing agents. The proposed seller financing terms can be found on page 15.