171 Frances Dr Three Rivers, TX 78071-3211

Property Details for 171 Frances Dr

Lot size

7.39 lot acres

Property size

1,178 SF

Property type

Commercial real estate

APN

2450-0004-0085-00

APU

24500004008500

Description

This exceptional investment opportunity presents the Gilmore Heritage RV Park, a thriving 32-unit Class B multifamily property situated on 7.39 acres in Three Rivers, Texas. Currently generating a 6.43% cap rate and a NOI of $43,048, this park offers significant upside potential with a pro-forma cap rate of 14.29% and a pro-forma NOI of $95,688. The park comprises 28 RV spaces, two charming tiny home cabins, and a substantial 1,100 square foot, two-bedroom, one-bathroom home with an attached office. Additional improvements include a 1,500 square foot building featuring an 800 square foot apartment, a 600 square foot area suitable for storage or an extra bedroom, and a 10x10 laundry room. The park is conveniently located just one hour from both San Antonio and Corpus Christi, offering easy access to major Texas cities. Infrastructure includes city water and an aerobic septic system, along with gravel roads throughout the property. This turnkey operation presents a rare chance to acquire a well-established RV park with substantial growth potential in a desirable location. The strong pro-forma numbers suggest a significant return on investment for the savvy investor. The property is located at 171 Frances Dr, Three Rivers, TX 78071. The asking price is $669,500.