Contact Information

Mobile Home Park Details

  • Price: $3,000,000
  • Property ID: 1422624
  • Posted On: Apr 14, 2021
  • Updated On: Apr 14, 2021

Property Description

Property Agent: Eric Wanck
Call Eric: +1 678-932-0200

Windemere Cove RV Resort is a stunning lakeside community overlooking Lake Guntersville. This all-age RV Resort is located 45 miles east of Huntsville and has a total of 106 RV lots residing on 15.39 acres. With a Good Sam rating of 10, 9.5, 10, this community is exceptionally maintained, with a newly-renovated clubhouse, pool, boat slip, and boat storage. There are only three other RV resorts in Alabama with that high of a rating.
Windemere Cove ownership has focused on selling individual RV lots to owners. With limited options for lakeside-deeded property, the owners have sold 48 of the 106 master-planned RV lots. This is the only park on Lake Guntersville where an individual can stay year-round. Of the remaining 58 lots, the average asking price is $54,400 per lot. A full sell-out would yield over $3,150,000 in sales. A total of 5 lots are being sold on seller held notes with a balance of $142,000 +/-. That balance will be assumed in the sale. The remaining lots currently for sale are available for lease with rates ranging from $430-$580/month. Lot owners also have the option to rent out their pads monthly. Windemere Cove handles the management of these lots and retains 30% of rents as their management fee. The community has an HOA due of $125/month, which has only been raised once in 10 years. Ownership believes these fees could be $225-$250 per month if one desired. The boat storage currently has a waiting list with monthly rates at just $75.00. Elsewhere in the area, $125-$150/month is not uncommon for boat storage on the water, which offers a quick value add to a new investor to boost monthly income.
The existing 106 RV lots is know as Phase I, and there is an adjoining 17.25 acres known as Phase II. This acreage has unrestricted zoning that could be used to expand the park into an additional 150 lots, and those lots could be sold outright or utilized as a more traditional RV park and rented weekly or monthly. The roads have already been cut out, removed, and relaid with chert base, and are ready for paving. Beyond a park, this land could be used for a housing subdivision, convenience store, a restaurant, or a fishing lodge, as long as health permits are sought and approved.
Windemere Cove RV Resort has a full time manager on site. City water and septic are well maintained and the park has absolutely no deferred maintenance. RV lots are 40x80' and consists of a 60'x15' level concrete pad with a stamped border. 100 amp hookups and all underground utility services to each site.
This exceptional RV resort community is being offered at $3,000,000. The seller maintains professional books and records and additonal information is available upon request. No site visits are permissable without prior Broker approval.

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Park Information

Average MH Lot Rent: $580
Size: 33 acre(s)

RV Information

Number of RV Lots: 106

Utility Information

Water: City
Sewer: Septic

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