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41620 FM510, Los Fresnos, TX 78566, USA

$550,000

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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: ● 6 developed acres: electric, water, 3 septics ● Single Family Home: 3 bed 2 bath, 1,464 sq ft ● Doublewide Home: 3 bed 2 bath, 1,248 sq ft ● Two Park Model Homes: 400 sqft each ● 12 RV Spots: 20 X 15 Pads, 100 amp pedestals ● Large Storage Building + Unfinished Efficiency Apartment Location: The best part about the property is its location ● 15 minutes from South Padre Island (Massive vacation, tourism, travel destination) ● 30 minutes from Brownsville (Rapidly growing economy including Elon Musk’s SpaceX) ● 40 minutes from McAllen/Edinburg (Exploding economic and population growth) ● 30 minutes from Donna (Hot spot for RV travelers and a popular ‘winter Texan’ destination) Recommended repairs: ● Level land around RV pads to reduce puddles when it rains: $15-20K Optional renovations: ● Finish Efficiency Apartment: $15-20K ● Add 38 additional RV spots: $190-$200K (Entire park is wired to fit 50 total RV spots) ● 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 ● $300K down, $250K financed ● 10 yrs amortized ● 3.5% interest ● 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 ● Single Family Home: Currently rents for $1,300/mo ● Two Park Model Homes: Currently rent for $750/mo each Unrealized additional income that can be captured without renovations: $8,500/mo ● 12 active RV Spots: $350 a month ● Doublewide:$1,300 per month
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