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2005 RIVERFRONT RV PARK IS PRIMED FOR UPSIDE

The RV Park for sale in the city of Reedley, CA, Fresno County sold on April 18, 2005 for $950,000.  Vince Reynolds and Norman Sangalang of MHRV Advisors represented the Seller in this transaction.

The park consists of over 110 RV  and tent sites. The property is located on the banks of the Kings River with just over 20 acres of useable land.  The park has approximately 12 full-hookup spaces and the rest have water and electric or just water. All of the spaces have a park like setting with lots of trees and grass areas surrounding them.  Amenities include a full service store, gas dock, boat launch, sand beaches, lagoon and restroom facilities.  Monthly space rents were at $375 with all utilities.  Daily rates average approximately $40.00. The park is nearly 100% occupied from Memorial Day through Labor Day.

The buyer did not have use for mobile home park financing as it was an all cash sale.

Vince Reynolds commented, “Fee simple riverfront property is becoming harder and harder to obtain these days.  This park has an incredible on the water location and just needs to be upgraded to take full advantage of it.  Its proximity to Northern LA county and expanding Central Valley population centers will allow the new owner to cash in on the increased boating along the scenic Kings River.”

Norman Sangalang added, “The sellers had owned the property for several years but partnership disputes and unstable management had never allowed them to take the park to the next level. The new owner will be onsite and has plans for significant upgrades.  Reedley and the surrounding Fresno area are growing rapidly and this site will most likely become a residential development in the next few years.”

Reynolds continued, “We had several offers on this property but none of the buyers could get comfortable with the area.  The buyer is from Fresno and had been going to the park for a long time.  He knows from the customer side just what the park will need with regards to improvements.”

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