Newer Arizona RV Park - 9% cap rate

Built in 2007, this is a fully stabilized RV park with plenty of upside on the table. The park is easy to operate and runs more like a mobile home park (with longer term residents). The park is full-service, with 92 LARGE spaces on 8.38 acres, with a clubhouse, kitchen, laundry, pool table, private showers/restrooms, pool, and spa at 2,900 elevation. The park is on all city services, has cable TV and wi-fi at each space, located just a mile from the main intersection in Safford with major retailers for resident needs. Recent improvements include landscaping, new block walls, remodeled clubhouse and pool, new entry, signage, pavement resealing, and more. At $2,650,00 the park is operating at a 9% cap rate on 2019 actual financials. With some simple operational changes, there is easily room to grow bottom line NOI by 20+% which would bring the pro forma cap rate to 11.5%. Seller WILL NOT CARRY. Seller is open to working with a broker, but will need to work directly with the buyer throughout a transaction. Seller has received multiple loan quotes of 65-70% LTV, 5.0% int, 20-25 yr am Preference will be given to CASH buyers Property is for sale by the owner. Seller would like to have the park in escrow by March 1st, and encourages all interested parties to submit an offer.