Property Details for 15 Gilmore Rd

Year built

1962

Construction

WOOD

Lot size

0.72 lot acres

Property size

1,698 SF

Property type

Mobile home & RV parks

APN

041-191-004-000

APU

41191004000

Description

This exceptional investment opportunity presents Rivers Edge RV Park, a thriving 59-unit mobile home and RV park situated on 3.14 acres in Red Bluff, California. Boasting a 90% occupancy rate and a strong NOI of $122,637, this park offers a compelling 5.30% cap rate. The property includes 53 RV spaces, three 1-bedroom/1-bathroom cottages, a duplex unit, a 3-bedroom/2-bathroom single-family residence, and a manager's house with an integrated office. All units generate substantial rental income, with RV spaces commanding monthly rents between $575 and $600, cottages ranging from $700 to $845, the single-family residence at $1,400, and the duplex averaging $833 per month. The park benefits from city services including water, sewer, and trash, with PGE providing a master meter. Individual tenant electric sub-metering is in place, along with tenant chargebacks for trash and sewer. Conveniently located along the Sacramento River, the park is ideally positioned near numerous recreational attractions, ensuring consistent demand. The property features underground utilities, asphalt roads, gravel areas, vehicle storage, and four fire hydrants. The park is zoned C-2 and comprises three separate APNs (041-191-003, 004, 006). This well-maintained park presents a rare opportunity for a strong, cash-flowing investment with significant upside potential. The asking price is $2,300,000, translating to an attractive price per pad of $38,983.05. The property is available for a 1031 exchange.

Location Insight

City

Red Bluff

County

Tehama

State

California

Longitude

-122.228

Latitude

40.1785

CBSA code

39780

CBSA name

RED BLUFF, CA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments