Brokers Recount California RV Park Sale
Editor’s Note: What’s an RV park going for these days? MHRV Advisors based in San Diego, Calif., offered a look behind a fourth-quarter 2009 RV park sale in Southern California in the following news release.
The sale of a 72-space RV park for sale in Ventura County, Calif., was sold and completed on Oct. 20.
Vince Reynolds and Norman Sangalang of MHRV Advisors represented the buyer and seller in the transaction. The terms of the RV Park sale was all cash for the improvements only at $7,222 per space as the RV park was on a ground lease. There was also substantial amount of acreage for tent camping and dry camping.
The campground is located on 70 acres subject to a ground lease with the county of Ventura. The park has 16 full hookup RV spaces, 56 RV spaces with water and electric hookups, a large tent camping area and clubhouse.
“It’s hard to believe, but there are only five other (private) RV parks in Ventura County, everything is government-owned. The buyer is a veteran of the RV park and campground industry and knows the attraction of an RV park to the Gold Coast, even if it’s in 12 miles from the actual coastline.” said Reynolds.
Sangalang added, “This transaction had its obstacles; we had to negotiate the purchase price and terms which was impacted by the lengthy county lease-assumption approval process. However, the buyer was patient and was able to establish a great relationship with the county. Because of their background and the location of the RV park, I believe there are going to have a very successful RV park and campground.
MHRV Advisors is the leading park brokers specializing in mobile home parks for sale, park financing loans in addition to RV parks for sale and loans throughout California, Arizona and Nevada and have personally sold or refinanced hundreds of mobile home and RV parks since 1993. For further information contact MHRV Advisors at (858) 456-5110 or