NEW OWNERS HAVE CHANGE IN STORE FOR RECENTLY REBUILT RV PARK

The sale of the Cherry Valley RV Park (formally known as Oak Valley RV Park) located at 36805 Brookside Ave., Beaumont (Cherry Valley), California was completed on January 25th, 2003 for $1,250,000. Vince Reynolds and Norman Sangalang of MHRV Advisors represented both parties in this transaction.

The park was built in the mid 1970's and consists of 100 full hook-up spaces with 76 pull-thrus & several tent sites. The property is situated on 9.74 acres, .22 acres for the well and some additional acreage for future expansion. The park was completely renovated by the Seller prior to sale and the Buyers plans include converting the property into a membership park. Amenities at the park include a pool, recreation room, spa, horseshoes, fishing pond, and laundry room. The park is situated along the I-10 freeway between Riverside and Palm Springs. Numerous shade trees, ponds and grassy areas provide a scenic atmosphere for park visitors.

Because the park was under renovations the sales price was primarily based upon a price per space which equated to $12,500 per space. The sales price was well below the replacement costs for a new RV park assuming that a new location could be found. The price of land in the area and development costs make new RV parks cost probative diminishing the likelihood that another RV park will be built in the Beaumont/Cherry Valley vicinity in the foreseeable future.

"The strength of the location and condition of the Cherry Valley RV Resort allowed the property to remain operational without any serious attention given to the advertising or marketing efforts. The new owners are experienced park operators and are looking at capitalizing on the areas growth.," said Sangalang.

Vince Reynolds also commented, "The sellers of the park have owned the property for just over a year and have been busy cleaning the park up and basically putting a new look on everything in and around the park. Their plans are to rebrand the park and enjoy the benefits of the areas booming development. Timing is everything and another opportunity closer to home presented itself at the same time the buyers approached us about purchasing the park."

Vince Reynolds sells and finances mobile home and RV parks exclusively throughout the states of California, Arizona and Nevada. Vince has sold 60 RV and mobile home parks in the past 8 years with dozens of others financed. For further information please contact Vince at (866) 459-MHRV 6478.