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Listed by Tim Ryan, DRE #02097345 • Avine Real Estate
$4,799,000
Est. payment /mo
8 Sqft Lot
Price Dropped by $196K
25433 South AVE Corning, CA 96021
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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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