25433 South AVE, Corning, CA 96021
25433 South AVE, Corning, CA 96021
25433 South AVE, Corning, CA 96021
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Sharad Gupta

Sharad Gupta

+1(408) 401-1003
Listed by Tim Ryan, DRE #02097345 • Avine Real Estate
$4,799,000
Est. payment /mo
8 Sqft Lot
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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID CROC26117144

Year Built 1953

Lot Size 8 Sqft

Source California Regional MLS

Property Description

Seller is not considering offers based on seller financing. Do not visit the property without scheduling with the listing agent. Woodson Bridge RV Park is a 125-site community, located in Corning, Tehama County, CA and offered at $4,799,000. 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 currently self-managed by the owner, and generated approximately $650,000 of net operating income in the trailing twelve months. The financial underwriting assumes an increased operating expense load, and reduced income from the convenience store, resulting in current budget net operating income of $482,230. Even at this conservatively underwritten income level, the pricing equates to a 10.05% cap rate. 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 se

Location

State CA

County Tehama

Area Pl01 - Tehama County

Interior

Laundry Laundry Area, Community Facility

Exterior

Garage Spaces 2.0

Pool None

Building

Sewer Sewer Available at Site

Water Well

Others

Tax ID 079220002000

Special Listing Condition Not Applicable

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Sharad Gupta
Sharad Gupta

Broker License ID: 02213637

+1(408) 401-1003

5201 Great America Pkwy, Santa Clara, CA 95054, USA

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25433 South AVE

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