500 Riviera Dr Blythe, CA 92225-4135
- Sports & entertainment properties
- 9.18 lot acres
Current Use by Public Records
- The Cove RV Resort / Campground / Rv Park
Property Details for 500 Riviera Dr
- Lot size
- 9.18 lot acres
- Property type
- Sports & entertainment properties
- APN
- 009-603-080
- APU
- 9603080
Description
This exceptional investment opportunity presents The Cove RV Resort, a well-established, 157-unit RV park situated on the Colorado River in Blythe, California. Built in 1970 and renovated in 2017, this Class B property boasts 21.55 acres of land and features four single-story buildings. The resort caters to both short-term and long-term guests, offering a range of amenities including a pool, laundry facilities, bathhouse, office, store, and ample RV and boat storage (80 covered spaces). A private cove and boat dock provide direct river access. The property operates under a ground lease expiring February 27, 2044 (20 years remaining). The current NOI is $199,172, with a pro-forma NOI of $228,837, resulting in a current cap rate of 11% and a pro-forma cap rate of 13.08%. The asking price is $1,750,000, or $11,146.50 per unit. The property is zoned for commercial use and includes the assumption of a $300,000 note for the solar array. The resort's location just off Interstate 10 provides convenient access for travelers. With qualified on-site management already in place, this property offers significant potential for increased profitability under active ownership. An expansion opportunity exists for an additional 81 sites. This is a stabilized investment with strong potential for future growth.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $360,000
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Location Insight
- Map
- Local Demand
- City
- Blythe
- County
- Riverside
- State
- California
- Longitude
- -114.535
- Latitude
- 33.6045
- CBSA code
- 40140
- CBSA name
- RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA
