SELLING ASSIGNMENT | 131 Pad Long-Term RV Park, Off-Market | Ocean Park, WA

PROPERTY AVAILABLE FOR IMMEDIATE ASSIGNMENT

We are offering up for immediate assignment a 131 unit long-term RV park in Ocean Park, WA.

The park was found off-market via cold calling and is owned by an elderly couple who run the park as a “mom n’ pop”. They do not advertise the park and thus are experiencing severe vacancy due to lack of involvement, with only 25 pads occupied.

This project is a relatively simple play as the value-add here is to just fill the empty pads by marketing the park to the local area. There is another park directly north of this park that is nearly 100% occupied.

You can see the park and the adjacent occupied park on Google Maps here: https://www.google.com/maps/place/Ocean+Park+Resort/@46.4898212,-124.0468618,284m/data=!3m1!1e3!4m8!3m7!1s0x0:0xf22b6c5b648e70fb!5m2!4m1!1i2!8m2!3d46.4899206!4d-124.0473128

Asking price is $1.8M. Includes assignment fee.

Here are some high level financials:
Trailing 12-Mo Gross Revenue = $277,616
Operating Expenses = $166,890
Net Operating Income = $110,712

Closing date is Dec 31. Links below are for the property overview, along with the financials.

Trailing 12 Month Actuals + 2020 Proforma

Park Overview

Please reach out to gabe@greatnorthwesthomebuyers.com or txt 253-569-6237 if interested.

Serious inquiries only.