5 STAR RV PARK RESORT IN RIVERSIDE, CA FOR SALE SOLD BY MHRV ADVISORS

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) October 20, 2009 -- The 240 space 5 Star RV Resort for sale in Palm Desert, California (Riverside County) sold and was completed on April 24, 2009. Vince Reynolds and Norman Sangalang of MHRV Advisors represented the traction of this RV Park. The sale terms of the sale was $5,000,000 all cash, or $16,860 per space in with the additional 48 enclosed storage units and 9 manufactured homes.

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5 STAR RV PARK RESORT IN RIVERSIDE, CA FOR SALE SOLD BY MHRV ADVISORS

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The resort currently sits on 24 acres with 240 RV spaces and features resort style amenities, championship tennis courts and 2 hole golf area. The resort was built in phases beginning in 1991 and evolved into a 82 acre 9 hole golf and RV resort with 760 full hook-up spaces.

“The RV Park acquired in 2004 sale by a development group with plans to redevelop the entire property into a planned unit development. In 2006, 520 of the spaces and 7 holes of the golf course were demolished to make way for condos and houses with plans to demolish the remaining spaces and amenities in 2007 (the park completely closed in 2007). The turn in the housing market essentially buried those plans and the development group re-opened the park in fall of 2007” said Reynolds.

Sangalang added, “Even with all the changes the park has gone through since 2004 adding spaces, then destroying spaces, to closing the park and then re-opening the park. RV’ers still came back to the resort because of its location, 5 star reputation and incredible amenity package. The buyer plans on increasing off-season occupancy and adding longer term seasonal renters. It’s hard to believe that the park was completely closed down in May of 2007 with notifications to the visitors not to return and reopen that same year in November of 2007 with 100% occupancy for the 07-08 snowbird season.

Vince Reynolds and Norman Sangalang specialize in Mobile Home Parks For Sale, Park Financing Loans and RV parks for sale and loans exclusively throughout the states of California, Arizona and Nevada and have sold or refinanced over 100 MH and RV parks over the past few years. For further information please contact MHRV Advisors at (858) 456-5110 or visit MHRV Advisors
http://www.mhrvadvisors.com

More information can be found online at http://www.mhrvadvisors.com

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