This RV Park is in an ideal location for travelers passing through South Texas, or for permanent South Texan residents. The owner is an older gentleman who stopped marketing/promoting the RV park after COVID. He currently only rents out the permanent buildings to tenants.
This is a perfect opportunity to start promoting and running the park as-is, or to build additional RV spots to add value to the property and maximize profit.
Assets included on the property:
ā 6 developed acres: electric, water, 3 septics
ā Single Family Home: 3 bed 2 bath, 1,464 sq ft
ā Doublewide Home: 3 bed 2 bath, 1,248 sq ft
ā Two Park Model Homes: 400 sqft each
ā 12 RV Spots: 20 X 15 Pads, 100 amp pedestals
ā Large Storage Building + Unfinished Efficiency Apartment
Location: The best part about the property is its location
ā 15 minutes from South Padre Island (Massive vacation, tourism, travel destination)
ā 30 minutes from Brownsville (Rapidly growing economy including Elon Muskās SpaceX)
ā 40 minutes from McAllen/Edinburg (Exploding economic and population growth)
ā 30 minutes from Donna (Hot spot for RV travelers and a popular āwinter Texanā
destination)
Recommended repairs:
ā Level land around RV pads to reduce puddles when it rains: $15-20K Optional renovations:
ā Finish Efficiency Apartment: $15-20K
ā Add 38 additional RV spots: $190-$200K (Entire park is wired to fit 50 total RV spots)
ā Improve landscaping and cosmetics: $10K
Purchase Price: $550K Owner Finance Terms:
Expenses: $1,100 - $1,200/mo
- Taxes = $250
- Insurance = $200
- Water/Electric = $400
- Lawn care = $250-$350
Sale Price
ā $300K down, $250K financed
ā 10 yrs amortized
ā 3.5% interest
ā Monthly principal + interest payment = $2,472.15
Financials
The owner is an older gentleman who stopped marketing/promoting the RV park after COVID. He currently only rents out the permanent buildings to tenants and invests nothing into the park besides minor repairs. Everything is off-the-books; no lease agreements in place.
Current Active Income: $2,800/mo
ā Single Family Home: Currently rents for $1,300/mo
ā Two Park Model Homes: Currently rent for $750/mo each
Unrealized additional income that can be captured without renovations: $8,500/mo
ā 12 active RV Spots: $350 a month
ā Doublewide:$1,300 per month