Mobile Home Park Details

  • Listing ID: 2927569
  • Posted On: May 16, 2023
  • Updated On: Aug 15, 2023


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

RALEIGH COUNTY - Adventure RV Park is approximately a mile outside the city limits of Beckley, hub of Southern West Virginia. The area boasts numerous outdoor attractions like New River Gorge National Park and Winterplace Ski Resort. The latest economic development – Mountain Valley Pipeline -- resumes construction, and the project is expected to employ more than 3,700 workers, with an estimated capital expense of $1.58 billion that will generate $82mm of tax revenue in West Virginia.

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 just off I-77, within proximity to modern conveniences suitable for affordable housing and contractors.
Adventure RV is a well-maintained park that focuses on a clean and safe community. Operations run smoothly due to ownership deploying approximately $160k since 2019 towards the following: New electric and water mains/lines, Remodeled Bathhouse, Road Improvements, Remodeling Homes, and New Roofing (maintenance building).

Adventure RV Park features 53 spaces comprised of 30 mobile home (MH) or RV capable lots, 18 RV only lots, and 5 Cabins. There is also 1 bathhouse-laundry facility and a maintenance building (10 x 40). The property is serviced by city water/sewer on a master meter. All sites contain full utility hookups, apart from the Cabins that furnish electric only. The park utilizes dumpster trash that is serviced once a week. 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, with a maintenance contractor discount offered to a tenant that is willing stay aboard if new ownership desires.

The current MH lot rents are $250/mo. – includes water/sewer, landscape (mowing & weeding), and trash. The current RV lot rents are $575/mo. – includes water/sewer, landscape, electric, and trash. Lastly, the Cabin rents average $200/mo. – includes electric heat. All long-term tenants are on month-to-month leases, and occupancy continues to rise with the latest pipeline developments and owners expect to be full by year-end. The monthly Revenue for August is expected to be above $12k, and 12-month revenue is approximately $93k.

This park is primed for stronger cash flow in Q4 and 2024. In addition, multiple value-add opportunities exist by raising under market rents and billing back tenants for utilities. Adventure RV Park is being offered at $630,000. Seller will consider holding a note with a down payment of 35%.

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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

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