Listing by: Dustin Cheatham, Upside Real Estate, 530-355-6881
0 Beds
n/a Full bath
n/a SqFt
Active
Discover an exceptional investment opportunity with this well-established RV park, boasting a robust history of consistent income. Catering to a long-term, diverse tenant base, the park offers a relaxed shady campground setting. Currently, there are 21 permitted spaces, plus a versatile bonus space #0, totaling 22 spaces. Five of these spaces feature breathtaking lake views, enhancing their appeal and rental value. Currently, all tenants are long- term. Vacancies fill up quickly with little need to advertise. AGR is $142,500. NOI $102,205, CAP 8% GRM 9. A more detailed brochure is available upon request. Each space is equipped with all-new submetered electricity pedestals and two hose bibs. There park has conventional septic and there are mobile pump-out services available. The park amenities include well-maintained male and female restrooms with showers, a new 100-gallon water heater, and a coin-operated laundry facility. Upgrades include all-new underground water & electricity infrastructure including new 50, 30, 20 amp pedestals. Two new recently installed 400 amp main panels ensure reliable service to all tenants and enough power for expansion. A key feature of this property is the undeveloped acreage. The seller has secured a current permit from the California Department of Housing and Community Development authorizing the addition of 15 new spaces. This permit is transferable to the buyer, presenting a unique opportunity for expansion. The sale includes comprehensive engineered plans, a significant investment exceeding $100,000. Additionally, the permit and plans cover the installation of septic systems for four existing spaces enhancing the property's infrastructure. A copy of the permit is available upon request. This presents a lucrative opportunity for expansion, whether as long-term rentals, or short-term rentals with potential rates starting at $50 per night. The location is prime, just 2 miles from Lime Saddle boat marina, 20 miles from Chico, and 10 minutes from Butte College, making it ideal for both tourists and residents. The undeveloped acreage could also be used for boat storage or tent camping. Situated just south of the city limits of the town of Paradise, this property enjoys a mild climate with little chance of winter snow. This is a rare chance to acquire a high-performing asset with significant growth potential. Take advantage of this remarkable opportunity to maximize your investment portfolio.
Property Details | ||
---|---|---|
Price | $1,295,000 | |
Property Style | Multi-Family | |
Lot Size Area | 239580 | |
Lot Size Area Units | Square Feet | |
Acres | 5.5 | |
Property Type | Land | |
Features | Electricity Connected,Propane,Underground Utilities,Water Connected | |
Exterior Features | Biking,BLM/National Forest,Fishing,Foothills,Golf,Hiking,Lake,Hunting,Watersports | |
View | Lake | |
Waterfront | Fishing in Community,Lake,Navigable Water | |
Lot Description | Sprinkler System | |
Association Fee | 0 | |
Geographic Data | ||
Directions | Near the Nelson Bar boat ramp. On Pentz Rd, north of Sunview Drive but south of Sierra Del Sol. | |
County | Butte | |
Latitude | 39.693191 | |
Longitude | -121.573116 | |
Address Information | ||
Address | 3922 Pentz Road, Paradise, CA 95969 | |
Postal Code | 95969 | |
City | Paradise | |
State | CA | |
Country | United States | |
Listing Information | ||
Listing Office | Upside Real Estate | |
Listing Agent | Dustin Cheatham | |
Listing Agent Phone | 530-355-6881 | |
Attribution Contact | 530-355-6881 | |
Compensation Disclaimer | The offer of compensation is made only to participants of the MLS where the listing is filed. | |
Special listing conditions | Standard | |
Ownership | None | |
MLS Information | ||
Days on market | 117 | |
MLS Status | Active | |
Listing Date | Jul 26, 2024 | |
Listing Last Modified | Nov 20, 2024 | |
Tax ID | 041460019000 | |
MLS # | SN24154393 |
This information is believed to be accurate, but without any warranty.