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Mobile Home Park

Friendly RV Park

1800 Black Butte Dr, Weed, CA 96094

Listing Price: $2,200,000

Cap Rate
8.00%
Number of Spaces
47
Lot Size
2.97 acres
Occupancy
100.0%
Price/Space
$46,809
Spaces/Acre
15.82
Year Built
1980

Investment Overview

Friendly RV Park, a 43-site park located just off the I-5 in Weed, CA. Friendly RV is surrounded by natural beauty and unmatched outdoor recreation, nestled at the base of Mount Shasta in the Cascade Mountains, halfway between San Francisco and Portland. The community is comprised of 45 total rental units - 43 RV sites, a 1BR apartment & a 2BR apartment - and maintains an average occupancy rate of 62.8%. Current lot rents average $528 per site/ month in a market that can sustain considerably higher rents, based on a survey we conducted on comparable parks. Friendly RV is serviced by public sewer and water, both of which are paid for by the current landlord. At $2,200,000, Friendly RV Park is being offered at an 8% cap rate on entry, with 13.5% cash-on-cash. This deal should qualify for recourse financing at a 3.75% interest rate, 75% LTV and 25-year amortization on a 10-year term.

Investment Highlights

  • Public Utilities
  • No Rent Control
  • Upside in Rents

Exclusively Listed By

Broker of Record

  • Daniel A. Kapic

    Vice President/Regional Manager

    (916) 724-1400

    License(s) CA: 01437375

    California

Mobile Home Park

Friendly RV Park

Listing Price: $2,200,000

Cap Rate
8.00%
Number of Spaces
47
Lot Size
2.97 acres
Occupancy
100.0%
Price/Space
$46,809
Spaces/Acre
15.82
Year Built
1980

Investment Highlights

  • Public Utilities
  • No Rent Control
  • Upside in Rents

Investment Overview

Friendly RV Park, a 43-site park located just off the I-5 in Weed, CA. Friendly RV is surrounded by natural beauty and unmatched outdoor recreation, nestled at the base of Mount Shasta in the Cascade Mountains, halfway between San Francisco and Portland. The community is comprised of 45 total rental units - 43 RV sites, a 1BR apartment & a 2BR apartment - and maintains an average occupancy rate of 62.8%. Current lot rents average $528 per site/ month in a market that can sustain considerably higher rents, based on a survey we conducted on comparable parks. Friendly RV is serviced by public sewer and water, both of which are paid for by the current landlord. At $2,200,000, Friendly RV Park is being offered at an 8% cap rate on entry, with 13.5% cash-on-cash. This deal should qualify for recourse financing at a 3.75% interest rate, 75% LTV and 25-year amortization on a 10-year term.

Exclusively Listed By

Broker of Record

  • Daniel A. Kapic

    Vice President/Regional Manager

    (916) 724-1400

    License(s): CA: 01437375

    California

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