Woodson Bridge RV Park

List Price $4,995,000

25433 South Ave, Corning, CA 96021

Exclusive Listing
Jason Lippe
619.839.0619
jlippe@avinerealestate.com

Tim Ryan
310.862.6103
tim@avinerealestate.com

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Price
$4,995,000

Total Sites
125

Price/Site
$39,960

Price/Acre
$620,497

Occupancy
89%

Lot Size
8.05 Acres

Designation
All Age

Year Built
1953

NOI (Current Budget)
$443,147

Cap Rate (Current Budget)
8.87%

NOI (Pro Forma Y1)
$506,317

Cap Rate (Pro Forma Y1)
10.14%

INVESTMENT HIGHLIGHTS

❑ CURRENT CAP RATE – Current cap rate of 8.87% based on current budget NOI of $443,147 and purchase price of $4,995,000. Going-in cash-on-cash yield over 10% based on financing at 60% LTV, 7% interest rate, and 30 year amortization schedule.

❑ INCOME STREAMS – Income is generated from a variety of streams including MH space rents, long-term RVs, daily RVs, service fees for facilities and maintenance, guest access, storage, and more. Income from the convenience store is excluded from the financials.

❑ LONG TERM COMMUNITY – Of the 125 total sites, 110 are dedicated for long-term RV/MH, and 89% of those are occupied. The long-term residents provide a stable income base to support the Property’s operations.

❑ LIGHT VALUE-ADD – The Property is approaching stabilization with rents and occupancy in line with the market. There is upside potential in generating income from the convenience store as well as gradual increases to occupancy and rental rates.

❑ TENANT OWNED HOMES – All of the occupied homes are owned by their residents, reducing the owner's maintenance responsibility and overall management burden.

❑ SCENIC LOCATION – Woodson Bridge RV Park enjoys over 1,000 feet of frontage on the Sacramento River, offering scenic views and enhancing demand for the Property.

EXECUTIVE SUMMARY

Woodson Bridge RV Park is a 125-site community, located in Corning, Tehama County, CA and offered at $4,995,000. The Property consists of 110 long-term RV/MH sites, 14 transient RV sites, a 2-bed 2-bath site- built residence with 2-car garage, a convenience store, clubhouse, maintenance garage, and common area facilities including bathrooms, showers, and laundry. The community is income producing with pricing reflecting a 8.87% current cap rate. There is light value-add upside through convenience store income optimization as well as gradual rent and occupancy growth.

98 of the 110 long-term RV/MH sites are occupied at an average space rent of $612 per month, with all occupied homes owned by their residents. The 14 transient RV/MH sites generate supplemental income. The Property is HCD permitted for 134 total RV/MH sites (31 MH, 96 RV w/Drain, 7 RV w/o Drain), with 10 sites currently inactive. Additional income is generated from service fees for community facilities, maintenance, guest access, storage, and other ancillary charges. Income from the on-site convenience store is excluded from the financials, representing financial upside for a new owner. The store inventory and other personal property are excluded from the offering price and subject to negotiation. PG&E electricity is submetered and billed back to residents, residents obtain their own propane, and private well water, septic, and trash service are included in the rent.

The Property is currently managed by the owner, who resides on-site in an RV during the week with support from four staff members responsible for the convenience store, check-ins/reception, maintenance, and other day-to-day operations. The Current Budget assumes a transition to third-party off-site management combined with a new on-site manager compensated at $60,000 per year plus free occupancy of the site-built residence.

Woodson Bridge RV Park is strategically positioned to capture both long-term housing demand and seasonal recreational tourism along the Sacramento River. The Property enjoys over 1,000 feet of river frontage, providing scenic views and a natural amenity base that supports both resident retention and daily RV demand. Corning sits at the heart of one of California's primary olive and orchard agriculture regions, with steady workforce housing demand from the surrounding agricultural and food processing sectors.

Woodson Bridge RV Park offers a rare combination of strong current return, tenant-owned home stability, and identifiable upside.

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