Contact Information

Mobile Home Park Details

  • Price: $630,000
  • Listing ID: 2927569
  • Posted On: May 16, 2023
  • Updated On: May 16, 2023

Description

Listing Broker: Paul
Contact Paul Schaaf: +1-678-932-0200

Adventure RV Park is approximately a mile outside city limits of Beckley -- a hub of Southern West Virginia, which boasts numerous outdoor attractions like New River Gorge National Park and Winterplace Ski Resort. This quaint and quiet park offers a multi-purpose operation that includes Mobile Homes, RVs, and Cabins. The property resides in a well-traveled area for vacationers, just off I-77, within close proximity to modern conveniences suitable for affordable housing.

Current ownership runs a transparent business that focuses on community and tenants, and in doing so, they have allocated approximately $160,000 towards the following capital expenditures: new electric and water mains/lines, remodeled bathhouse, road improvements, remodeling homes, and new roofing (maintenance building).

The property is serviced by city water/sewer on a master meter. All sites have full hookups available with the exception of the cabins (which furnish electric only). The park utilizes dumpster trash that is serviced once a week, and there are no on-site amenities present.
Roads are paved and in good overall condition, with a recent sealing so no immediate CapEx is necessary. The park is responsible for landscape and the owner self-manages the maintenance with a contractor who provides a discount to tenants.

There are a total of 53 spaces comprised of 30 mobile homes or RV lots, 18 RV only lots, and 5 Cabins. There is also 1 bathhouse/laundry facility and a maintenance building (10’ x 40’). Current mobile home lot rents are $250/month (includes water/sewer, landscape - mowing/weeding), RV lot rents are $575/month (includes water/sewer, landscape, electric, and trash), and cabin rents average $250/month (includes electric heat). All long-term tenants are on month-to-month leases. Occupancy hovers between 30%-40% year-round, leaving plenty of room for growth to in-fill spaces. In addition, current rents are below-market and billing back tenants will encourage more cash flow.

Adventure RV Park is being offered at $630,000. Cash or bank financing preferred, however, Seller will consider holding a note with a significant down payment.

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Park Information

Number of MH Lots: 53
Average MH Lot Rent: $386
Size: 7 acre(s)

Utility Information

Water: City
Sewer: City

Park-Owned Homes

Number of Park-owned Homes: 7

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