7501 Lower River Rd - Specialty FOR SALE


Grants Pass, OR 97526
$2,800,000 USD
503-221-2261
7501 Lower River Rd, Grants Pass, OR for Sale
$2,800,000 USD
Specialty - FOR SALE
1/4
null | 7.56% Cap Rate

7501 Lower River Rd
Grants Pass, OR 97526


HIGHLIGHTS

  • Current rents at Whitehorse are $500 with other RV parks in the market with similar feel and amenities at $700- $750.
  • Attractive On-site amenities, including, BBQ/picnic area, storage sheds, dog park and more.
  • Long- term RV Park with low maintenance overhead and managerial upkeep which reduces operating expenses.

OVERVIEW

Constructed in 1991, the property is located 12 miles west of Grants Pass adjacent to Whitehorse County Park and sits at the entrance to the scenic Rogue River. Surrounded by mature trees of the Pacific Northwest, the Park offers a variety of amenities, including on-site mailboxes, a park area with barbeque, a dog park, and more. The park also features separate men's and women's restrooms. Recent improvements include the installation of six new coin-operated laundry units, added sheds to most spaces, re-graveling of sites, and the installation of a new Orenco septic system with five tanks. Utilities include sub-metered electricity (with tenants responsible for their pro rata share), well water, and a septic system. The Park has historically maintained high occupancy rates, frequently with a waiting list. Currently, there are four vacant spaces while the Owners have worked on improvements. These vacancies provide an opportunity for a new Owner to immediately raise rents by leasing the vacant spaces, thereby increasing cash flow. The two apartments, approximately 750 SF and 1,400 SF, provide flexibility to serve as rental options or as an ideal space for an owner/manager to operate the Park.

FOR SALE DETAILS

PRICE

$2,800,000 USD

PRICE/SF

$13 USD /SF

CAP RATE

7.56%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

White Horse RV Park- Long-term

PROPERTY TYPE

Specialty

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1991

SPRINKLERS

-

PARKING SPACES

46

LAND DETAILS

LAND ACRES

5 AC

LAND SF

217,800 SF

ZONING

RR2.5

APN/PARCEL ID

R318732

ASK ABOUT THIS PROPERTY

Tom SaundersKidder MathewsMore Info
503-221-2261

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Tom SaundersKidder MathewsMore Info
503-221-2261

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.