hello everyone, I’ve been looking at a rv park on lake fork tx here are the details.
24 lots 19 occupied annually leased at 2200 a month ( one of the lots goes for 2500)
one park owned mobile home (in excellent condition)
property includes a 3 bedroom 2 bath house.
tenants pay electric 30 and 50 amp breakers.
4 acres of land.
seller says he brought in 66k last year was renting the house and the mobile home for 1k a month the house is now empty.
18k in expenses.
lake fork is a world class bass fishing lake the tenants are all weekenders from Dallas
so the park wont take as much maintenance as most rv parks. every other rv park on the lake is full with a waiting list and rented annually.
24k of revenue was generated from the home and mobile quite a large chunk!
seller is asking 500k
i have it valued at 400k
thanks for any feedback.