North Redding RV Village

List Price $1,400,000

14216 Bear Mountain Rd, Redding, CA 96003

Exclusive Listing
Tim Ryan & Jason Lippe

Price
$1,400,000

Total Sites
71 Existing
(97 HCD)

Price/Site
$19,718

Price/Acre
$27,706

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Occupancy
38%

Lot Size
50.53 Acres

Designation
All Age

Year Built
1967

Value Add
Yes

Seller Financing
Yes

NOI (Pro Forma)
$152,564

Cap Rate (Pro Forma)
10.90%

INVESTMENT HIGHLIGHTS

❑ Financing – Seller financing is being offered with an amount of $1,000,000, 5.5% interest only rate, and 5 year term with $400,000 down payment.

❑ Infill Opportunity – 43 vacant sites and 1 vacant site-built home in need of repairs present the opportunity for the new owner to increase occupancy by infill.

❑ HCD Permitted Sites – HCD Permitted for 97 total sites, consisting of 2 MH, 76 RV lots with drain and 19 RV lots without drain. Current use is 64 RV lots, 2 MH, and 4 park-owned cabins placed in RV lots, in addition to 1 site-built house.

❑ Below-Market Rents – The current average RV space rent is $494, more than 40% lower than the comparable set average of $851.

❑ Price per Site – Offered for $19,718 per site, almost 50% lower than the comparable set average of $38,781.

❑ Location – Scenic setting within a 20-minute drive of major services in the City of Redding, outdoor recreation at Shasta Lake, and employment throughout Shasta County.

❑ Amenities – Large management building/office, swimming pool, restroom building, extensive grounds.

❑ Land Area – 50+ acre property presents the opportunity

EXECUTIVE SUMMARY

North Redding RV Village is a 71-site, all-age community spanning over 50 acres, located in Shasta County, CA. The property is being offered for $1,400,000 ($19,718 per site) with seller financing of $1,000,000 available at an interest only rate of 5.50%, requiring a $400,000 down payment.

North Redding RV Village is currently 38% occupied by long-term tenants; there are 43 vacant sites and 1 vacant site-built house, offering significant upside through home infill. North Redding RV Village is HCD permitted for 97 total sites, presenting the opportunity for expansion. In-place rents are more than 40% below comparable communities, creating strong value add potential through rental increases.

North Redding RV Village is serviced by PG&E for electricity, and a private well and septic system. North Redding RV Village’s entry has asphalt and concrete streets and the resident areas have gravel. There are several amenities at the property including a swimming pool, an office building with laundry and manager’s quarters, and a restroom building.

North Redding RV Village also has a site-built house in need of repairs and four park-owned cabins that are rented out to long-term residents. North Redding RV Village enjoys a scenic location just a 5-minute drive from outdoor recreation at Shasta Lake. The property is also located within 10 minutes of multiple country clubs and an on-ramp for the I-5 Interstate Highway. For major services and employment, North Redding RV Village can access the 90,000+ population, City of Redding within a 20-minute drive.

Please do not visit, drive through, call, or disturb the property or its residents without prior approval from the listing broker.

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