TITLE:
New Orleans 270 Pad RV Park, Class B Capital JV Partner
CONTROL:
Exclusive
VALUE:
$5,500,000
LOAN:
$0
EQUITY:
$5,500,000
TYPE:
Mobile Home/RV
HAVE:
270 Pad value-add RV park with 100+ seasonal memberships, grocery store, activity center, concert series and more just 1-hour north of New Orleans, Louisiana. Value-add through adding back in $400,000 of off-book cash flow and modernizing and systemizing.
WEBSITE URL:
ADDRESS:
17145 Million Dollar Road, Covington, Louisiana
BENEFITS TO NEW OWNER:
Wholesale Price
Cash Flow
Value-add exit
OTHER FILES:
GROSS SCHEDULED INCOME:
$1,250,000 Actual
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$1,250,000
EXPENSES:
$690,000
NOI:
$560,000
DEBT SERVICE:
$0
CASH FLOW:
$560,000
CAP RATE:
10.18%
BENEFITS SOUGHT:
Acquisition fee
Build experience & resume
Cash Flow
CAN ADD:
Equity for our stake in the deal
Operator
Real Estate Attorney & Civil Engineer
REMARKS:
Have the property under contract via a wholesaling team. Would like to acquire and learn the business working with an experienced team. We are fine taking a back seat to an experienced operator/capital team for us to learn.
COUNSELOR:
Cara Kennedy
Great Lakes Real Estate Exchange
PO Box 430676
Pontiac, Michigan, 48343
